M&G Plc Lowers Position in Manulife Financial Co. (NYSE:MFC)

M&G Plc cut its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 8.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,585,421 shares of the financial services provider’s stock after selling 228,285 shares during the period. M&G Plc owned 0.14% of Manulife Financial worth $77,530,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Grove Bank & Trust bought a new position in shares of Manulife Financial during the second quarter valued at approximately $25,000. West Financial Advisors LLC bought a new position in shares of Manulife Financial during the third quarter valued at approximately $26,000. Addison Advisors LLC increased its position in shares of Manulife Financial by 77.2% during the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 467 shares in the last quarter. HHM Wealth Advisors LLC increased its position in shares of Manulife Financial by 119.0% during the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 600 shares in the last quarter. Finally, Sachetta LLC increased its position in shares of Manulife Financial by 209.5% during the second quarter. Sachetta LLC now owns 1,170 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 792 shares in the last quarter. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MFC has been the subject of several analyst reports. Barclays initiated coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They set an “equal weight” rating for the company. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $35.67.

Manulife Financial Trading Up 4.3 %

NYSE:MFC opened at $31.29 on Thursday. The company has a 50 day simple moving average of $29.21 and a two-hundred day simple moving average of $26.96. The company has a market cap of $55.04 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.08 and a beta of 1.08. Manulife Financial Co. has a 12 month low of $18.05 and a 12 month high of $31.40.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.27. The business had revenue of $9.41 billion during the quarter, compared to analysts’ expectations of $8.95 billion. Manulife Financial had a return on equity of 16.16% and a net margin of 9.18%. During the same quarter in the prior year, the business posted $0.62 earnings per share. Research analysts forecast that Manulife Financial Co. will post 2.74 earnings per share for the current year.

About Manulife Financial

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.