Pinnacle Wealth Planning Services Inc. Buys New Holdings in Manulife Financial Co. (MFC)

Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 11,112 shares of the financial services provider’s stock, valued at approximately $188,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BancorpSouth Bank boosted its holdings in Manulife Financial by 0.6% during the first quarter. BancorpSouth Bank now owns 123,735 shares of the financial services provider’s stock worth $2,093,000 after buying an additional 680 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Manulife Financial by 6.7% during the first quarter. Jones Financial Companies Lllp now owns 11,218 shares of the financial services provider’s stock worth $190,000 after buying an additional 701 shares in the last quarter. Advisor Partners LLC boosted its holdings in Manulife Financial by 6.4% during the first quarter. Advisor Partners LLC now owns 12,526 shares of the financial services provider’s stock worth $212,000 after buying an additional 758 shares in the last quarter. Cetera Advisors LLC boosted its holdings in Manulife Financial by 3.6% during the fourth quarter. Cetera Advisors LLC now owns 23,280 shares of the financial services provider’s stock worth $328,000 after buying an additional 816 shares in the last quarter. Finally, CWM LLC boosted its holdings in Manulife Financial by 69.4% during the fourth quarter. CWM LLC now owns 2,300 shares of the financial services provider’s stock worth $33,000 after buying an additional 942 shares in the last quarter. 47.09% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MFC opened at $17.55 on Thursday. The stock has a market cap of $34.91 billion, a price-to-earnings ratio of 8.32, a price-to-earnings-growth ratio of 0.81 and a beta of 1.39. Manulife Financial Co. has a 12-month low of $13.33 and a 12-month high of $19.52.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, May 1st. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.24. The company had revenue of $1.74 billion during the quarter. Manulife Financial had a net margin of 10.43% and a return on equity of 13.69%. The business’s revenue was up 25.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 EPS. Equities analysts expect that Manulife Financial Co. will post 2.18 EPS for the current year.

A number of research firms recently commented on MFC. Zacks Investment Research raised shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Tuesday, March 26th. Barclays reissued a “buy” rating and set a $29.00 price objective on shares of Manulife Financial in a report on Sunday, May 5th. Finally, ValuEngine upgraded shares of Manulife Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Manulife Financial presently has an average rating of “Hold” and an average target price of $25.50.

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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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