Hollencrest Securities LLC Continues to Hold Position in Manulife Financial Co. (MFC)

Hollencrest Securities LLC held its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,786 shares of the financial services provider’s stock at the end of the first quarter. Hollencrest Securities LLC’s holdings in Manulife Financial were worth $1,256,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MFC. FMR LLC increased its stake in Manulife Financial by 61.7% in the fourth quarter. FMR LLC now owns 36,430,962 shares of the financial services provider’s stock worth $648,766,000 after buying an additional 13,900,003 shares in the last quarter. Viking Global Investors LP purchased a new stake in Manulife Financial during the fourth quarter worth $95,361,000. Russell Investments Group Ltd. purchased a new stake in Manulife Financial during the fourth quarter worth $67,552,000. Norges Bank purchased a new stake in Manulife Financial during the fourth quarter worth $25,346,000. Finally, Dimensional Fund Advisors LP increased its stake in Manulife Financial by 42.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,464,885 shares of the financial services provider’s stock worth $61,744,000 after buying an additional 1,025,535 shares in the last quarter. 49.00% of the stock is owned by institutional investors and hedge funds.

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

Manulife Financial Co. (NYSE:MFC) traded down 0.70% during trading on Friday, hitting $17.13. The company’s stock had a trading volume of 1,411,511 shares. The firm has a 50 day moving average of $17.68 and a 200 day moving average of $17.34. Manulife Financial Co. has a 12 month low of $12.55 and a 12 month high of $19.52. The firm has a market cap of $33.84 billion, a P/E ratio of 16.30 and a beta of 1.53.

Manulife Financial (NYSE:MFC) last released its earnings results on Thursday, February 9th. The financial services provider reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.08. Manulife Financial had a return on equity of 10.21% and a net margin of 4.63%. The business had revenue of ($2,602.65) million for the quarter, compared to the consensus estimate of $12.18 billion. During the same period in the previous year, the company posted $0.42 earnings per share. Equities research analysts predict that Manulife Financial Co. will post $1.63 earnings per share for the current year.

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Separately, Zacks Investment Research raised shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Tuesday, January 10th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Manulife Financial has an average rating of “Buy” and an average target price of $21.80.

About Manulife Financial

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.

5 Day Chart for NYSE:MFC

Want to see what other hedge funds are holding MFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manulife Financial Co. (NYSE:MFC) (TSE:MFC).

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