J.P. Morgan Private Wealth Advisors LLC Sells 7,105 Shares of Manulife Financial Co. (NYSE:MFC)

J.P. Morgan Private Wealth Advisors LLC lessened its holdings in shares of Manulife Financial Co. (NYSE:MFCFree Report) (TSE:MFC) by 6.5% during the 3rd quarter, Holdings Channel reports. The firm owned 102,630 shares of the financial services provider’s stock after selling 7,105 shares during the period. J.P. Morgan Private Wealth Advisors LLC’s holdings in Manulife Financial were worth $1,876,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Manulife Financial during the 4th quarter valued at approximately $406,195,000. Renaissance Technologies LLC purchased a new position in Manulife Financial during the first quarter valued at $52,082,000. Vanguard Group Inc. increased its holdings in Manulife Financial by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 65,706,458 shares of the financial services provider’s stock valued at $1,402,832,000 after acquiring an additional 2,032,695 shares during the last quarter. Harding Loevner LP lifted its stake in Manulife Financial by 23.8% in the 2nd quarter. Harding Loevner LP now owns 10,380,358 shares of the financial services provider’s stock worth $196,293,000 after purchasing an additional 1,997,743 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Manulife Financial by 103.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,377,712 shares of the financial services provider’s stock valued at $72,113,000 after purchasing an additional 1,713,488 shares during the last quarter. 45.02% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Price Performance

Manulife Financial stock opened at $22.61 on Friday. Manulife Financial Co. has a 1-year low of $17.07 and a 1-year high of $22.65. The company’s 50-day moving average is $21.51 and its 200 day moving average is $19.64. The firm has a market capitalization of $40.83 billion, a P/E ratio of 11.31, a price-to-earnings-growth ratio of 0.85 and a beta of 1.07.

Manulife Financial (NYSE:MFCGet Free Report) (TSE:MFC) last issued its quarterly earnings results on Wednesday, November 8th. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.09. Manulife Financial had a return on equity of 15.07% and a net margin of 10.79%. The firm had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $11.07 billion. Research analysts anticipate that Manulife Financial Co. will post 2.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on MFC. Royal Bank of Canada upgraded Manulife Financial from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 12th. TheStreet raised Manulife Financial from a “c+” rating to a “b” rating in a report on Thursday, December 21st.

Read Our Latest Research Report on Manulife Financial

About Manulife Financial

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding MFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manulife Financial Co. (NYSE:MFCFree Report) (TSE:MFC).

Institutional Ownership by Quarter for Manulife Financial (NYSE:MFC)

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.