Mitsubishi UFJ Trust & Banking Corp reduced its stake in Manulife Financial Co. (NYSE:MFC – Free Report) (TSE:MFC) by 24.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 840,786 shares of the financial services provider’s stock after selling 274,000 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Manulife Financial were worth $15,356,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of MFC. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Manulife Financial during the third quarter valued at approximately $27,000. Sanctuary Wealth Management L.L.C. bought a new position in shares of Manulife Financial during the fourth quarter valued at approximately $27,000. Arlington Trust Co LLC bought a new position in shares of Manulife Financial during the third quarter valued at approximately $29,000. Northwest Capital Management Inc bought a new position in shares of Manulife Financial during the second quarter valued at approximately $31,000. Finally, NBC Securities Inc. bought a new position in shares of Manulife Financial during the third quarter valued at approximately $32,000. 45.02% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on MFC shares. TheStreet raised shares of Manulife Financial from a “c+” rating to a “b” rating in a research report on Thursday, December 21st. Royal Bank of Canada raised shares of Manulife Financial from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 12th.
Manulife Financial Price Performance
Shares of Manulife Financial stock opened at $22.62 on Tuesday. The company’s fifty day simple moving average is $21.56 and its 200-day simple moving average is $19.66. The stock has a market capitalization of $40.85 billion, a PE ratio of 11.31, a P/E/G ratio of 0.85 and a beta of 1.07. Manulife Financial Co. has a 1-year low of $17.07 and a 1-year high of $22.82.
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.
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