VeraBank N.A. Buys Shares of 6,362 Manulife Financial Corp $MFC

VeraBank N.A. bought a new position in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,362 shares of the financial services provider’s stock, valued at approximately $203,000.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC grew its position in shares of Manulife Financial by 33.9% in the 4th quarter. Brighton Jones LLC now owns 9,393 shares of the financial services provider’s stock worth $288,000 after buying an additional 2,376 shares during the last quarter. Allworth Financial LP boosted its stake in Manulife Financial by 33.3% in the first quarter. Allworth Financial LP now owns 7,418 shares of the financial services provider’s stock valued at $224,000 after acquiring an additional 1,854 shares in the last quarter. Cerity Partners LLC grew its holdings in Manulife Financial by 47.8% in the first quarter. Cerity Partners LLC now owns 172,708 shares of the financial services provider’s stock worth $5,380,000 after purchasing an additional 55,881 shares during the last quarter. CWM LLC grew its holdings in Manulife Financial by 16.7% in the first quarter. CWM LLC now owns 16,476 shares of the financial services provider’s stock worth $513,000 after purchasing an additional 2,357 shares during the last quarter. Finally, Signaturefd LLC increased its position in shares of Manulife Financial by 2.8% during the first quarter. Signaturefd LLC now owns 53,461 shares of the financial services provider’s stock worth $1,665,000 after purchasing an additional 1,461 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors.

Manulife Financial Stock Performance

Shares of MFC stock opened at $33.56 on Wednesday. Manulife Financial Corp has a fifty-two week low of $25.92 and a fifty-two week high of $33.97. The firm has a market capitalization of $56.71 billion, a PE ratio of 14.98, a P/E/G ratio of 1.13 and a beta of 0.98. The stock’s 50-day simple moving average is $31.89 and its 200-day simple moving average is $31.38.

Wall Street Analyst Weigh In

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

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.