Metis Global Partners LLC Raises Stock Position in Manulife Financial Corp $MFC

Metis Global Partners LLC raised its holdings in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 8.2% during the second quarter, Holdings Channel.com reports. The fund owned 80,997 shares of the financial services provider’s stock after buying an additional 6,120 shares during the period. Metis Global Partners LLC’s holdings in Manulife Financial were worth $2,590,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Manulife Financial by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 74,333,649 shares of the financial services provider’s stock valued at $2,316,162,000 after purchasing an additional 369,638 shares during the period. TD Asset Management Inc grew its holdings in Manulife Financial by 6.6% during the 1st quarter. TD Asset Management Inc now owns 37,093,064 shares of the financial services provider’s stock valued at $1,155,639,000 after buying an additional 2,289,205 shares in the last quarter. 1832 Asset Management L.P. raised its position in shares of Manulife Financial by 7.3% during the first quarter. 1832 Asset Management L.P. now owns 24,425,465 shares of the financial services provider’s stock valued at $760,853,000 after buying an additional 1,660,626 shares during the last quarter. Bank of Nova Scotia raised its position in shares of Manulife Financial by 7.2% during the first quarter. Bank of Nova Scotia now owns 13,990,810 shares of the financial services provider’s stock valued at $436,007,000 after buying an additional 937,794 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Manulife Financial by 1.0% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,447,174 shares of the financial services provider’s stock worth $356,747,000 after buying an additional 112,761 shares in the last quarter. Institutional investors own 52.56% of the company’s stock.

Analyst Ratings Changes

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

Manulife Financial Trading Up 0.6%

MFC opened at $33.37 on Monday. The stock has a 50-day moving average of $31.78 and a 200 day moving average of $31.33. Manulife Financial Corp has a 12 month low of $25.92 and a 12 month high of $33.47. The firm has a market cap of $56.38 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.13 and a beta of 0.98.

Manulife Financial 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.