15,849 Shares in Manulife Financial Corp $MFC Bought by Trek Financial LLC

Trek Financial LLC purchased a new stake in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) during the 4th quarter, HoldingsChannel reports. The firm purchased 15,849 shares of the financial services provider’s stock, valued at approximately $575,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MFC. Canerector Inc. grew its position in Manulife Financial by 4,445.8% during the third quarter. Canerector Inc. now owns 28,184,000 shares of the financial services provider’s stock valued at $877,932,000 after buying an additional 27,564,000 shares during the period. MUFG Securities EMEA plc grew its position in Manulife Financial by 814.3% during the second quarter. MUFG Securities EMEA plc now owns 6,399,999 shares of the financial services provider’s stock valued at $204,544,000 after buying an additional 5,699,999 shares during the period. Mackenzie Financial Corp grew its position in Manulife Financial by 25.6% during the third quarter. Mackenzie Financial Corp now owns 27,822,300 shares of the financial services provider’s stock valued at $866,649,000 after buying an additional 5,671,639 shares during the period. Quadrature Capital Ltd grew its position in Manulife Financial by 13,155.3% during the third quarter. Quadrature Capital Ltd now owns 4,229,500 shares of the financial services provider’s stock valued at $131,743,000 after buying an additional 4,197,592 shares during the period. Finally, TD Asset Management Inc grew its position in Manulife Financial by 5.8% during the third quarter. TD Asset Management Inc now owns 37,638,463 shares of the financial services provider’s stock valued at $1,172,922,000 after buying an additional 2,079,330 shares during the period. Institutional investors and hedge funds own 52.56% of the company’s stock.

Wall Street Analysts Forecast Growth

MFC has been the topic of several analyst reports. Weiss Ratings lowered shares of Manulife Financial from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Scotiabank restated an “outperform” rating on shares of Manulife Financial in a research report on Wednesday, April 29th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Manulife Financial in a research report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, Manulife Financial presently has an average rating of “Buy” and an average price target of $51.50.

Manulife Financial Stock Down 0.5%

Shares of NYSE MFC opened at $39.84 on Thursday. The company’s 50-day simple moving average is $36.34 and its 200-day simple moving average is $35.98. Manulife Financial Corp has a 52-week low of $29.70 and a 52-week high of $40.41. The firm has a market cap of $66.62 billion, a price-to-earnings ratio of 17.95 and a beta of 0.87.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, February 11th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.04. Manulife Financial had a net margin of 9.18% and a return on equity of 16.43%. The business had revenue of $11.32 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the business earned $1.03 earnings per share. Equities research analysts anticipate that Manulife Financial Corp will post 3.22 EPS for the current fiscal year.

About Manulife Financial

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.