Advisory Resource Group Lowers Position in Manulife Financial Co. (NYSE:MFC)

Advisory Resource Group cut its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 7.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,873 shares of the financial services provider’s stock after selling 2,716 shares during the quarter. Advisory Resource Group’s holdings in Manulife Financial were worth $1,071,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in Manulife Financial in the third quarter worth about $26,000. Crews Bank & Trust purchased a new stake in Manulife Financial in the fourth quarter worth about $26,000. Capital Performance Advisors LLP purchased a new stake in Manulife Financial in the third quarter worth about $30,000. Fortitude Family Office LLC purchased a new stake in Manulife Financial in the third quarter worth about $31,000. Finally, Golden State Wealth Management LLC purchased a new stake in Manulife Financial in the fourth quarter worth about $35,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Price Performance

NYSE:MFC opened at $30.14 on Friday. Manulife Financial Co. has a 1-year low of $21.95 and a 1-year high of $33.07. The company has a 50-day moving average of $30.68 and a 200 day moving average of $29.45. The firm has a market cap of $51.94 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.04 and a beta of 1.09.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.30. The business had revenue of $10.69 billion during the quarter, compared to the consensus estimate of $9.73 billion. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. During the same period in the previous year, the company posted $0.69 earnings per share. Sell-side analysts anticipate that Manulife Financial Co. will post 2.65 EPS for the current fiscal year.

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.