1832 Asset Management buys $555.1 Million stake in Manulife Financial Corporation (USA) (MFC)

Manulife Financial Corporation (USA) (MFC) : 1832 Asset Management scooped up 5,472,614 additional shares in Manulife Financial Corporation (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 40,138,043 shares of Manulife Financial Corporation (USA) which is valued at $555.1 Million.Manulife Financial Corporation (USA) makes up approximately 2.20% of 1832 Asset Management’s portfolio.

Other Hedge Funds, Including , Mackenzie Financial Corp sold out all of its stake in MFC during the most recent quarter. The investment firm sold 16,461,559 shares of MFC which is valued $227.7 Million.Schroder Investment Management Group boosted its stake in MFC in the latest quarter, The investment management firm added 2,058,100 additional shares and now holds a total of 2,072,500 shares of Manulife Financial Corporation (USA) which is valued at $28.7 Million. Manulife Financial Corporation (USA) makes up approx 0.06% of Schroder Investment Management Group’s portfolio.Td Asset Management Inc boosted its stake in MFC in the latest quarter, The investment management firm added 494,847 additional shares and now holds a total of 60,870,096 shares of Manulife Financial Corporation (USA) which is valued at $866.8 Million. Manulife Financial Corporation (USA) makes up approx 1.64% of Td Asset Management Inc’s portfolio.Thompson Davis reduced its stake in MFC by selling 778 shares or 93.29% in the most recent quarter. The Hedge Fund company now holds 56 shares of MFC which is valued at $797.Aperio Group boosted its stake in MFC in the latest quarter, The investment management firm added 114,044 additional shares and now holds a total of 589,423 shares of Manulife Financial Corporation (USA) which is valued at $8.7 Million. Manulife Financial Corporation (USA) makes up approx 0.07% of Aperio Group’s portfolio.

Manulife Financial Corporation (USA) opened for trading at $14.09 and hit $14.37 on the upside on Friday, eventually ending the session at $14.33, with a gain of 2.07% or 0.29 points. The heightened volatility saw the trading volume jump to 19,82,467 shares. Company has a market cap of $28,264 M.

On the company’s financial health, Manulife Financial Corporation (USA) reported $0.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.43.Analysts expectations of $ 12685.80.During the same quarter in the previous year, the company posted $0.39 EPS.

Manulife Financial Corp is a Canada-based financial services and life insurance company. The Company offers financial protection and wealth management products and services. It caters to personal and business clients. It also provides asset management services to institutional customers. Its operating segments are Asia Canadian and U.S. Divisions and the Corporate and Other segment. Its Asia Canadian and U.S. Divisions segment offers protection and wealth management services such as life insurance and individual group long-term care insurance annuities pension contracts and mutual fund products and services retirement products and deposit and credit products to Canadian customers among others. The Company’s Corporate and Other segment consists of investment performance on assets backing capital net of amounts allocated to operating division and financing costs external asset management business and property and casualty (P&C) reinsurance business among others.

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