Vestmark Advisory Solutions Inc. Has $409,000 Stock Position in Manulife Financial Corp $MFC

Vestmark Advisory Solutions Inc. raised its position in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 65.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,789 shares of the financial services provider’s stock after purchasing an additional 5,063 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Manulife Financial were worth $409,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MFC. Eastern Bank boosted its position in Manulife Financial by 156.1% during the second quarter. Eastern Bank now owns 968 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 590 shares during the period. William B. Walkup & Associates Inc. acquired a new stake in shares of Manulife Financial in the first quarter worth $43,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Manulife Financial during the 2nd quarter worth $55,000. Carderock Capital Management Inc. bought a new position in Manulife Financial in the 2nd quarter worth $58,000. Finally, Kozak & Associates Inc. bought a new position in Manulife Financial in the 2nd quarter worth $61,000. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Stock Up 0.5%

Shares of MFC opened at $33.56 on Wednesday. The stock’s 50-day moving average price is $31.89 and its 200 day moving average price is $31.38. The firm has a market capitalization of $56.71 billion, a price-to-earnings ratio of 14.98, a P/E/G ratio of 1.13 and a beta of 0.98. Manulife Financial Corp has a 12-month low of $25.92 and a 12-month high of $33.97.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Morgan Stanley set a $47.00 price target on shares of Manulife Financial in a report on Tuesday, October 7th. Royal Bank Of Canada decreased their target price on Manulife Financial from $51.00 to $49.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Manulife Financial in a research report on Wednesday, October 8th. Finally, UBS Group initiated coverage on Manulife Financial in a research report on Thursday, October 16th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $48.00.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, 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.