LGT Financial Advisors LLC Makes New $180,000 Investment in Manulife Financial Co. (NYSE:MFC)

LGT Financial Advisors LLC acquired a new stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,108 shares of the financial services provider’s stock, valued at approximately $180,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Americana Partners LLC grew its stake in shares of Manulife Financial by 0.5% during the 3rd 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. Indiana Trust & Investment Management CO increased its holdings in Manulife Financial by 22.2% in the second quarter. Indiana Trust & Investment Management CO now owns 2,540 shares of the financial services provider’s stock valued at $68,000 after buying an additional 462 shares in the last quarter. Addison Advisors LLC boosted its stake in shares of Manulife Financial by 77.2% during the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 467 shares in the last quarter. LRI Investments LLC grew its position in shares of Manulife Financial by 8.6% during the 2nd quarter. LRI Investments LLC now owns 6,819 shares of the financial services provider’s stock valued at $182,000 after acquiring an additional 542 shares during the period. Finally, Arkadios Wealth Advisors increased its stake in shares of Manulife Financial by 1.3% in the 3rd quarter. Arkadios Wealth Advisors now owns 41,841 shares of the financial services provider’s stock valued at $1,236,000 after purchasing an additional 547 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays initiated coverage on Manulife Financial in a research report on Thursday, September 5th. They set an “equal weight” rating on the stock. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $35.67.

Manulife Financial Price Performance

NYSE MFC opened at $31.29 on Thursday. Manulife Financial Co. has a 1-year low of $18.05 and a 1-year high of $31.40. The company has a market cap of $55.04 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.08 and a beta of 1.08. The stock’s 50 day simple moving average is $29.21 and its 200-day simple moving average is $26.96.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.27. The company had revenue of $9.41 billion for the quarter, compared to analyst estimates of $8.95 billion. Manulife Financial had a return on equity of 16.16% and a net margin of 9.18%. During the same quarter last year, the firm posted $0.62 EPS. On average, equities research analysts anticipate that Manulife Financial Co. will post 2.74 EPS for the current fiscal year.

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.