Acadian Asset Management LLC Purchases 518,500 Shares of Manulife Financial Corp $MFC

Acadian Asset Management LLC grew its holdings in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 82.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,150,047 shares of the financial services provider’s stock after buying an additional 518,500 shares during the quarter. Acadian Asset Management LLC owned 0.07% of Manulife Financial worth $36,687,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. MUFG Securities EMEA plc grew its position in Manulife Financial by 814.3% in the second quarter. MUFG Securities EMEA plc now owns 6,399,999 shares of the financial services provider’s stock valued at $204,544,000 after acquiring an additional 5,699,999 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Manulife Financial by 134.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,444,479 shares of the financial services provider’s stock valued at $263,046,000 after buying an additional 4,840,963 shares during the period. TD Asset Management Inc increased its position in Manulife Financial by 6.6% in the first quarter. TD Asset Management Inc now owns 37,093,064 shares of the financial services provider’s stock worth $1,155,639,000 after purchasing an additional 2,289,205 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Manulife Financial by 30.0% during the first quarter. Canada Pension Plan Investment Board now owns 9,653,897 shares of the financial services provider’s stock worth $300,860,000 after buying an additional 2,226,152 shares during the last quarter. Finally, Jupiter Asset Management Ltd. raised its position in shares of Manulife Financial by 871.5% during the 1st quarter. Jupiter Asset Management Ltd. now owns 2,023,966 shares of the financial services provider’s stock valued at $63,057,000 after acquiring an additional 1,815,642 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Royal Bank Of Canada lowered 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. Morgan Stanley set a $47.00 price target on Manulife Financial in a report on Tuesday, October 7th. Weiss Ratings restated a “buy (a-)” rating on shares of Manulife Financial in a report on Wednesday, October 8th. Finally, UBS Group assumed coverage on Manulife Financial in a report on Thursday, October 16th. They set a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $48.00.

Manulife Financial Trading Up 0.6%

Shares of NYSE MFC opened at $33.37 on Monday. The firm has a market cap of $56.38 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 1.13 and a beta of 0.98. The business’s 50 day moving average is $31.78 and its 200-day moving average is $31.33. Manulife Financial Corp has a 1-year low of $25.92 and a 1-year high of $33.47.

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.