First National Bank of Omaha cut its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 213,931 shares of the financial services provider’s stock after selling 2,875 shares during the quarter. First National Bank of Omaha’s holdings in Manulife Financial were worth $3,927,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of MFC. Enterprise Trust & Investment Co bought a new stake in Manulife Financial in the second quarter worth about $25,000. Kayne Anderson Rudnick Investment Management LLC purchased a new position in Manulife Financial in the 2nd quarter worth about $30,000. Cullen Frost Bankers Inc. increased its stake in Manulife Financial by 72.7% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,900 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 800 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new position in Manulife Financial in the 2nd quarter worth about $38,000. Finally, Manchester Financial Inc. purchased a new position in Manulife Financial in the 2nd quarter worth about $41,000. Hedge funds and other institutional investors own 42.41% of the company’s stock.
MFC traded up $0.18 during trading on Friday, reaching $19.73. The company had a trading volume of 1,545,041 shares, compared to its average volume of 1,356,064. The firm’s 50-day simple moving average is $18.38 and its 200 day simple moving average is $17.84. The company has a market cap of $40.66 billion, a price-to-earnings ratio of 9.35, a PEG ratio of 0.86 and a beta of 1.43. Manulife Financial Co. has a 12-month low of $13.33 and a 12-month high of $20.08.
Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, November 6th. The financial services provider reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.21. Manulife Financial had a return on equity of 13.27% and a net margin of 9.36%. The company had revenue of $17.14 billion for the quarter. During the same period last year, the firm earned $0.75 EPS. Analysts anticipate that Manulife Financial Co. will post 2.23 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on the company. Zacks Investment Research raised Manulife Financial from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Tuesday, July 23rd. Canaccord Genuity lifted their price target on Manulife Financial from $32.00 to $33.00 in a research note on Monday, October 28th. Finally, ValuEngine raised Manulife Financial from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Manulife Financial currently has an average rating of “Buy” and an average target price of $27.50.
Manulife Financial Company Profile
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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