Mn Services Vermogensbeheer B.V. Grows Position in Manulife Financial Co. (MFC)

Mn Services Vermogensbeheer B.V. boosted its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.0% in the first quarter, Holdings Channel reports. The firm owned 1,095,487 shares of the financial services provider’s stock after purchasing an additional 10,600 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Manulife Financial were worth $24,758,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Manulife Financial in the fourth quarter worth about $275,237,000. Jarislowsky Fraser Ltd lifted its position in shares of Manulife Financial by 16.4% in the fourth quarter. Jarislowsky Fraser Ltd now owns 37,491,956 shares of the financial services provider’s stock worth $531,717,000 after buying an additional 5,280,336 shares during the last quarter. Highstreet Asset Management Inc. lifted its position in shares of Manulife Financial by 101.4% in the fourth quarter. Highstreet Asset Management Inc. now owns 3,959,949 shares of the financial services provider’s stock worth $56,185,000 after buying an additional 1,994,033 shares during the last quarter. Letko Brosseau & Associates Inc. lifted its position in shares of Manulife Financial by 10.1% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 21,439,119 shares of the financial services provider’s stock worth $304,053,000 after buying an additional 1,964,748 shares during the last quarter. Finally, Vanguard Group Inc lifted its position in shares of Manulife Financial by 2.7% in the third quarter. Vanguard Group Inc now owns 51,586,191 shares of the financial services provider’s stock worth $922,361,000 after buying an additional 1,333,916 shares during the last quarter. 44.88% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial stock opened at $17.76 on Monday. The stock has a market capitalization of $34.95 billion, a PE ratio of 8.42, a price-to-earnings-growth ratio of 0.82 and a beta of 1.39. Manulife Financial Co. has a 52 week low of $13.33 and a 52 week high of $19.63.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.24. The business had revenue of $1.74 billion for the quarter. Manulife Financial had a return on equity of 13.69% and a net margin of 10.43%. The company’s revenue for the quarter was up 25.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 earnings per share. On average, research analysts predict that Manulife Financial Co. will post 2.19 EPS for the current fiscal year.

A number of brokerages have weighed in on MFC. Barclays reaffirmed a “buy” rating and issued a $29.00 price target on shares of Manulife Financial in a research report on Sunday, May 5th. Zacks Investment Research cut Manulife Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 17th. Finally, ValuEngine raised Manulife Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Manulife Financial currently has a consensus rating of “Hold” and an average price target of $25.50.

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About Manulife Financial

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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