Manulife Financial Corp (MFC) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd cut its position in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 612,261 shares of the financial services provider’s stock after selling 666 shares during the period. Gulf International Bank UK Ltd’s holdings in Manulife Financial Corp were worth $11,481,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in MFC. Vanguard Group Inc. boosted its stake in Manulife Financial Corp by 4.7% in the first quarter. Vanguard Group Inc. now owns 42,156,733 shares of the financial services provider’s stock worth $747,861,000 after buying an additional 1,901,343 shares during the period. FMR LLC boosted its stake in Manulife Financial Corp by 14.8% in the first quarter. FMR LLC now owns 41,809,722 shares of the financial services provider’s stock worth $741,656,000 after buying an additional 5,378,760 shares during the period. Causeway Capital Management LLC boosted its stake in Manulife Financial Corp by 196.6% in the first quarter. Causeway Capital Management LLC now owns 15,761,517 shares of the financial services provider’s stock worth $279,609,000 after buying an additional 10,447,098 shares during the period. Wellington Management Group LLP boosted its stake in Manulife Financial Corp by 51.9% in the first quarter. Wellington Management Group LLP now owns 14,767,058 shares of the financial services provider’s stock worth $261,385,000 after buying an additional 5,046,441 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in Manulife Financial Corp by 2.0% in the first quarter. Wells Fargo & Company MN now owns 13,377,882 shares of the financial services provider’s stock worth $237,324,000 after buying an additional 263,922 shares during the period. Hedge funds and other institutional investors own 48.45% of the company’s stock.

Manulife Financial Corp (NYSE:MFC) traded up 0.15% during midday trading on Friday, hitting $20.14. 1,982,164 shares of the company were exchanged. Manulife Financial Corp has a 1-year low of $12.92 and a 1-year high of $20.23. The stock has a 50 day moving average of $18.54 and a 200-day moving average of $18.16. The stock has a market capitalization of $39.81 billion, a price-to-earnings ratio of 16.45 and a beta of 1.28.

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A number of research firms recently commented on MFC. Zacks Investment Research raised shares of Manulife Financial Corp from a “sell” rating to a “hold” rating and set a $22.00 price target on the stock in a report on Monday, July 10th. BidaskClub raised shares of Manulife Financial Corp from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Manulife Financial Corp in a report on Wednesday, May 3rd. Finally, ValuEngine cut shares of Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Manulife Financial Corp presently has a consensus rating of “Buy” and an average price target of $22.00.

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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