Harvest Portfolios Group Inc. Trims Holdings in Manulife Financial Co. (NYSE:MFC)

Harvest Portfolios Group Inc. lowered its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 2.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,125 shares of the financial services provider’s stock after selling 2,400 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Manulife Financial were worth $2,930,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Foster & Motley Inc. grew its position in shares of Manulife Financial by 1.1% in the 3rd quarter. Foster & Motley Inc. now owns 330,254 shares of the financial services provider’s stock worth $9,759,000 after acquiring an additional 3,714 shares in the last quarter. Crestwood Advisors Group LLC lifted its stake in Manulife Financial by 0.6% during the third quarter. Crestwood Advisors Group LLC now owns 440,436 shares of the financial services provider’s stock worth $13,015,000 after purchasing an additional 2,738 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Manulife Financial by 29.3% in the third quarter. Van ECK Associates Corp now owns 343,736 shares of the financial services provider’s stock worth $10,325,000 after purchasing an additional 77,864 shares during the period. Farther Finance Advisors LLC increased its stake in Manulife Financial by 40.8% during the third quarter. Farther Finance Advisors LLC now owns 3,328 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 964 shares during the last quarter. Finally, Americana Partners LLC raised its holdings in shares of Manulife Financial by 0.5% during the third quarter. Americana Partners LLC now owns 69,967 shares of the financial services provider’s stock worth $2,068,000 after purchasing an additional 364 shares during the period. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Trading Up 1.7 %

NYSE MFC opened at $30.51 on Wednesday. The company has a 50-day moving average price of $29.13 and a two-hundred day moving average price of $26.93. The stock has a market cap of $53.66 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 1.07 and a beta of 1.08. Manulife Financial Co. has a 52 week low of $18.05 and a 52 week high of $30.86.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.27. Manulife Financial had a return on equity of 16.16% and a net margin of 9.18%. The firm had revenue of $9.41 billion for the quarter, compared to the consensus estimate of $8.95 billion. During the same quarter in the previous year, the business earned $0.62 EPS. As a group, equities research analysts expect that Manulife Financial Co. will post 2.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. Barclays began coverage on Manulife Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating for the company. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $35.67.

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.