Burney Co. cut its stake in shares of Manulife Financial Co. (NYSE:MFC – Free Report) (TSE:MFC) by 33.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 192,097 shares of the financial services provider’s stock after selling 97,901 shares during the period. Burney Co.’s holdings in Manulife Financial were worth $3,633,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Sanctuary Wealth Management L.L.C. bought a new position in shares of Manulife Financial in the fourth quarter valued at approximately $27,000. Clearstead Advisors LLC boosted its position in Manulife Financial by 249.3% in the first quarter. Clearstead Advisors LLC now owns 1,638 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,169 shares during the last quarter. Northwest Capital Management Inc bought a new position in Manulife Financial in the 2nd quarter valued at $31,000. ING Groep NV purchased a new stake in shares of Manulife Financial during the 1st quarter valued at $39,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Manulife Financial by 79.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 2,051 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 906 shares during the period. 45.02% of the stock is owned by hedge funds and other institutional investors.
Manulife Financial Stock Up 1.7 %
NYSE MFC opened at $18.95 on Wednesday. The company has a market cap of $34.34 billion, a PE ratio of 9.47, a price-to-earnings-growth ratio of 0.76 and a beta of 1.08. Manulife Financial Co. has a 52 week low of $17.07 and a 52 week high of $20.40. The firm’s 50-day simple moving average is $18.35 and its two-hundred day simple moving average is $18.77.
Manulife Financial Cuts Dividend
Analyst Ratings Changes
Several equities analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Manulife Financial in a research report on Thursday, October 5th. They set a “hold” rating for the company. Barclays increased their target price on shares of Manulife Financial from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, August 11th. Finally, Royal Bank of Canada raised their price target on shares of Manulife Financial from $30.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Friday, November 10th.
Manulife Financial Profile
Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, 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.
- Five stocks we like better than Manulife Financial
- How to Invest in Music Stocks
- Left for dead, Tower Semiconductor is a phoenix rising
- What Are Dividend Challengers?
- 3 specialty apparel makers ready to spring higher
- What is the NASDAQ Stock Exchange?
- Boeing’s future sealed as China resumes order flow
Receive News & Ratings for Manulife Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manulife Financial and related companies with MarketBeat.com's FREE daily email newsletter.