Goelzer Investment Management Inc. Takes $221,000 Position in Manulife Financial Co. (MFC)

Goelzer Investment Management Inc. bought a new stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 13,090 shares of the financial services provider’s stock, valued at approximately $221,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BancorpSouth Bank lifted its position in Manulife Financial by 0.6% in the 1st quarter. BancorpSouth Bank now owns 123,735 shares of the financial services provider’s stock valued at $2,093,000 after acquiring an additional 680 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Manulife Financial by 6.7% in the 1st quarter. Jones Financial Companies Lllp now owns 11,218 shares of the financial services provider’s stock valued at $190,000 after acquiring an additional 701 shares in the last quarter. Advisor Partners LLC lifted its position in Manulife Financial by 6.4% in the 1st quarter. Advisor Partners LLC now owns 12,526 shares of the financial services provider’s stock valued at $212,000 after acquiring an additional 758 shares in the last quarter. Cetera Advisors LLC lifted its position in Manulife Financial by 3.6% in the 4th quarter. Cetera Advisors LLC now owns 23,280 shares of the financial services provider’s stock valued at $328,000 after acquiring an additional 816 shares in the last quarter. Finally, CWM LLC lifted its position in Manulife Financial by 69.4% in the 4th quarter. CWM LLC now owns 2,300 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 942 shares in the last quarter. Institutional investors own 47.64% of the company’s stock.

Manulife Financial stock opened at $17.56 on Wednesday. Manulife Financial Co. has a 52 week low of $13.33 and a 52 week high of $19.63. The company has a market cap of $33.81 billion, a price-to-earnings ratio of 8.32, a PEG ratio of 0.79 and a beta of 1.39.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, May 1st. The financial services provider reported $0.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.24. Manulife Financial had a net margin of 10.43% and a return on equity of 13.69%. The firm had revenue of $1.74 billion for the quarter. During the same period in the prior year, the business earned $0.64 EPS. Manulife Financial’s quarterly revenue was up 25.5% compared to the same quarter last year. On average, sell-side analysts forecast that Manulife Financial Co. will post 2.19 earnings per share for the current year.

Several equities analysts recently weighed in on MFC shares. Zacks Investment Research raised shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Tuesday, March 26th. 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. Finally, ValuEngine raised shares of Manulife Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Manulife Financial currently has a consensus rating of “Hold” and a consensus target price of $25.50.

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Manulife Financial Company 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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