Manulife Financial Co. (MFC) Position Lifted by TD Asset Management Inc.
TD Asset Management Inc. lifted its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 0.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,791,986 shares of the financial services provider’s stock after buying an additional 82,979 shares during the period. Manulife Financial makes up 1.3% of TD Asset Management Inc.’s investment portfolio, making the stock its 15th largest holding. TD Asset Management Inc.’s holdings in Manulife Financial were worth $825,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc increased its holdings in shares of Manulife Financial by 2.7% in the third quarter. Vanguard Group Inc now owns 51,586,191 shares of the financial services provider’s stock worth $922,361,000 after buying an additional 1,333,916 shares during the period. Fox Run Management L.L.C. purchased a new position in Manulife Financial during the 4th quarter valued at about $290,000. Virtu Financial LLC purchased a new position in Manulife Financial during the 4th quarter valued at about $149,000. BB&T Corp increased its holdings in Manulife Financial by 5.5% during the 4th quarter. BB&T Corp now owns 79,501 shares of the financial services provider’s stock valued at $1,128,000 after purchasing an additional 4,121 shares during the period. Finally, Grace & White Inc. NY increased its holdings in Manulife Financial by 29.7% during the 4th quarter. Grace & White Inc. NY now owns 500,850 shares of the financial services provider’s stock valued at $7,107,000 after purchasing an additional 114,600 shares during the period. 47.64% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:MFC traded down $0.02 during mid-day trading on Monday, reaching $17.27. 64,945 shares of the company’s stock traded hands, compared to its average volume of 2,619,905. Manulife Financial Co. has a 12-month low of $13.33 and a 12-month high of $19.63. The company has a market cap of $33.79 billion, a PE ratio of 8.20, a P/E/G ratio of 0.79 and a beta of 1.39.
A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Manulife Financial from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Tuesday, March 26th. Barclays restated a “buy” rating and set a $29.00 price target on shares of Manulife Financial in a report on Sunday, May 5th. Finally, ValuEngine upgraded Manulife Financial from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Manulife Financial currently has a consensus rating of “Hold” and an average target price of $25.50.
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About Manulife Financial
Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.
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