Genus Capital Management Inc. Has $811,000 Stock Position in Manulife Financial Corp $MFC

Genus Capital Management Inc. decreased its stake in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 48.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 25,410 shares of the financial services provider’s stock after selling 23,490 shares during the period. Genus Capital Management Inc.’s holdings in Manulife Financial were worth $811,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Eastern Bank lifted its position in Manulife Financial by 156.1% during the 2nd quarter. Eastern Bank now owns 968 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 590 shares during the period. William B. Walkup & Associates Inc. acquired a new position in Manulife Financial during the 1st quarter valued at about $43,000. Oliver Lagore Vanvalin Investment Group acquired a new position in Manulife Financial during the 2nd quarter valued at about $55,000. Carderock Capital Management Inc. acquired a new position in Manulife Financial during the 2nd quarter valued at about $58,000. Finally, Kozak & Associates Inc. acquired a new position in Manulife Financial during the 2nd quarter valued at about $61,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Price Performance

Shares of MFC stock opened at $33.33 on Thursday. The stock has a market cap of $56.32 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 1.13 and a beta of 0.98. The stock has a 50-day moving average of $31.68 and a 200-day moving average of $31.26. Manulife Financial Corp has a one year low of $25.92 and a one year high of $33.36.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.02). Manulife Financial had a return on equity of 15.77% and a net margin of 10.46%.The business had revenue of $11.30 billion for the quarter. During the same period last year, the firm posted $0.91 earnings per share. As a group, research analysts anticipate that Manulife Financial Corp will post 2.87 earnings per share for the current year.

Analysts Set New Price Targets

MFC has been the topic of a number of research reports. Morgan Stanley set a $47.00 target price on shares of Manulife Financial in a research report on Tuesday, October 7th. Weiss Ratings restated a “buy (a-)” rating on shares of Manulife Financial in a research report on Wednesday, October 8th. UBS Group initiated coverage on shares of Manulife Financial in a research report on Thursday, October 16th. They set a “buy” rating on the stock. Finally, Royal Bank Of Canada cut their target price on shares of Manulife Financial from $51.00 to $49.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat.com, the company 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.