Voya Investment Management LLC raised its stake in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 11.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,128 shares of the financial services provider’s stock after acquiring an additional 4,215 shares during the period. Voya Investment Management LLC’s holdings in Manulife Financial Corp were worth $789,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Andra AP fonden raised its holdings in Manulife Financial Corp by 10.1% in the 2nd quarter. Andra AP fonden now owns 178,400 shares of the financial services provider’s stock valued at $3,347,000 after acquiring an additional 16,400 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Manulife Financial Corp by 1.3% in the 2nd quarter. Wells Fargo & Company MN now owns 13,554,829 shares of the financial services provider’s stock valued at $254,288,000 after acquiring an additional 176,947 shares in the last quarter. Flippin Bruce & Porter Inc. raised its holdings in Manulife Financial Corp by 5.8% in the 2nd quarter. Flippin Bruce & Porter Inc. now owns 175,510 shares of the financial services provider’s stock valued at $3,293,000 after acquiring an additional 9,555 shares in the last quarter. Renaissance Group LLC raised its holdings in Manulife Financial Corp by 3.6% in the 2nd quarter. Renaissance Group LLC now owns 858,327 shares of the financial services provider’s stock valued at $16,102,000 after acquiring an additional 29,911 shares in the last quarter. Finally, Bridgewater Associates LP acquired a new position in Manulife Financial Corp in the 2nd quarter valued at $7,131,000. 46.12% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on MFC shares. Zacks Investment Research raised Manulife Financial Corp from a “sell” rating to a “hold” rating and set a $22.00 price objective for the company in a report on Monday, July 10th. BidaskClub raised Manulife Financial Corp from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Morgan Stanley lifted their price objective on Manulife Financial Corp from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. Finally, ValuEngine cut Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a report on Monday, September 18th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $24.50.

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Manulife Financial Corp (NYSE:MFC) opened at 20.22 on Tuesday. Manulife Financial Corp has a 52 week low of $14.15 and a 52 week high of $20.89. The stock has a 50 day moving average price of $20.28 and a 200 day moving average price of $19.10. The company has a market cap of $40.00 billion, a price-to-earnings ratio of 13.42 and a beta of 1.29.

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, August 9th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.01. The company had revenue of $12.34 billion for the quarter, compared to analysts’ expectations of $16.09 billion. During the same quarter in the prior year, the company earned $0.40 EPS. On average, equities analysts forecast that Manulife Financial Corp will post $1.71 earnings per share for the current year.

About Manulife Financial Corp

Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.

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Institutional Ownership by Quarter for Manulife Financial Corp (NYSE:MFC)

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