Fox Run Management L.L.C. purchased a new stake in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 14,300 shares of the financial services provider’s stock, valued at approximately $290,000.
Several other institutional investors and hedge funds also recently made changes to their positions in MFC. JPMorgan Chase & Co. boosted its holdings in shares of Manulife Financial Corp by 651.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,888,701 shares of the financial services provider’s stock valued at $110,471,000 after purchasing an additional 5,105,478 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Manulife Financial Corp in the 2nd quarter worth about $64,849,000. Vanguard Group Inc. increased its position in shares of Manulife Financial Corp by 4.5% in the 2nd quarter. Vanguard Group Inc. now owns 44,039,248 shares of the financial services provider’s stock worth $826,177,000 after purchasing an additional 1,882,515 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Manulife Financial Corp in the 1st quarter worth about $18,803,000. Finally, Hexavest Inc. increased its position in shares of Manulife Financial Corp by 12,241.3% in the 2nd quarter. Hexavest Inc. now owns 994,218 shares of the financial services provider’s stock worth $18,610,000 after purchasing an additional 986,162 shares during the last quarter. Institutional investors own 46.12% of the company’s stock.
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Shares of Manulife Financial Corp (NYSE MFC) opened at $20.83 on Friday. The company has a market capitalization of $40.95 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 1.25 and a beta of 1.32.
Manulife Financial Corp (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.01. The firm had revenue of $12.34 billion during the quarter, compared to analyst estimates of $16.09 billion. During the same quarter in the previous year, the business earned $0.40 EPS. research analysts predict that Manulife Financial Corp will post 1.75 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Manulife Financial Corp from a “sell” rating to a “hold” rating and set a $22.00 price objective for the company in a research report on Monday, July 10th. BidaskClub raised shares of Manulife Financial Corp from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Morgan Stanley boosted their price objective on shares of Manulife Financial Corp from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, October 5th. Finally, ValuEngine downgraded shares of Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 18th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Manulife Financial Corp has a consensus rating of “Buy” and an average price target of $24.50.
Manulife Financial Corp Profile
Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.
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