Manulife Financial Co. (NYSE:MFC) Shares Purchased by Trust Co. of Vermont

Trust Co. of Vermont increased its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 44.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,208 shares of the financial services provider’s stock after acquiring an additional 675 shares during the quarter. Trust Co. of Vermont’s holdings in Manulife Financial were worth $59,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fortis Group Advisors LLC raised its stake in Manulife Financial by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 1,210 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 605 shares during the period. Bruce G. Allen Investments LLC raised its stake in Manulife Financial by 73.6% during the first quarter. Bruce G. Allen Investments LLC now owns 1,156 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 490 shares during the period. Accordant Advisory Group Inc bought a new position in Manulife Financial in the 1st quarter worth about $30,000. Creekmur Asset Management LLC bought a new position in Manulife Financial in the 4th quarter worth about $30,000. Finally, Goodman Advisory Group LLC bought a new position in Manulife Financial in the 4th quarter worth about $32,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Price Performance

Shares of Manulife Financial stock traded down $0.33 on Wednesday, hitting $24.32. The company had a trading volume of 1,004,659 shares, compared to its average volume of 2,825,105. The business has a 50-day simple moving average of $26.06 and a 200-day simple moving average of $24.71. The company has a market cap of $43.40 billion, a PE ratio of 14.33, a PEG ratio of 0.94 and a beta of 1.09. Manulife Financial Co. has a 52 week low of $17.07 and a 52 week high of $27.51.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, May 8th. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.04. The firm had revenue of $9.49 billion during the quarter, compared to analysts’ expectations of $8.85 billion. Manulife Financial had a net margin of 9.28% and a return on equity of 16.27%. On average, equities research analysts predict that Manulife Financial Co. will post 2.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MFC has been the subject of several recent analyst reports. National Bank Financial upgraded shares of Manulife Financial from a “sector perform” rating to an “outperform” rating in a research report on Thursday, May 9th. TD Securities upped their target price on shares of Manulife Financial from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.00.

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.