Davis Rea LTD. Acquires Shares of 10,186 Manulife Financial Co. (NYSE:MFC)

Davis Rea LTD. bought a new position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,186 shares of the financial services provider’s stock, valued at approximately $172,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mackey Komara & Dankovich LLC bought a new stake in Manulife Financial in the fourth quarter valued at $25,000. Acima Private Wealth LLC acquired a new position in shares of Manulife Financial during the fourth quarter valued at about $25,000. Enlightenment Research LLC acquired a new position in shares of Manulife Financial during the fourth quarter valued at about $30,000. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Manulife Financial during the fourth quarter valued at about $30,000. Finally, CWM LLC grew its holdings in shares of Manulife Financial by 69.4% during the fourth quarter. CWM LLC now owns 2,300 shares of the financial services provider’s stock valued at $33,000 after buying an additional 942 shares during the last quarter. 45.05% of the stock is owned by institutional investors and hedge funds.

Shares of MFC stock opened at $18.60 on Friday. Manulife Financial Co. has a 12-month low of $13.33 and a 12-month high of $19.63. The firm has a market capitalization of $36.65 billion, a PE ratio of 8.82, a PEG ratio of 0.84 and a beta of 1.39.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.24. Manulife Financial had a net margin of 12.34% and a return on equity of 13.51%. The firm had revenue of $1.74 billion during the quarter. During the same period in the previous year, the business posted $0.64 EPS. Manulife Financial’s revenue was up 25.5% on a year-over-year basis. Sell-side analysts expect that Manulife Financial Co. will post 2.18 earnings per share for the current fiscal year.

Several research analysts recently weighed in on MFC shares. Barclays restated a “buy” rating on shares of Manulife Financial in a report on Thursday, January 10th. Zacks Investment Research upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Tuesday, March 26th. Finally, ValuEngine upgraded shares of Manulife Financial from a “sell” rating to a “hold” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $24.33.

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Manulife Financial Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.

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Institutional Ownership by Quarter for Manulife Financial (NYSE:MFC)

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