Tetrem Capital Management Ltd. buys $104.9 Million stake in Manulife Financial Corporation (USA) (MFC)

Manulife Financial Corporation (USA) (MFC) : Tetrem Capital Management Ltd. scooped up 703,739 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 13, 2016. The investment management firm now holds a total of 7,586,800 shares of Manulife Financial Corporation (USA) which is valued at $104.9 Million.Manulife Financial Corporation (USA) makes up approximately 4.16% of Tetrem Capital Management Ltd.’s portfolio.

Other Hedge Funds, Including , Alliancebernstein reduced its stake in MFC by selling 32,574 shares or 13.02% in the most recent quarter. The Hedge Fund company now holds 217,518 shares of MFC which is valued at $3 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. Kassirer Asset Management Corp added MFC to its portfolio by purchasing 11,900 company shares during the most recent quarter which is valued at $169,456. Manulife Financial Corporation (USA) makes up approx 0.20% of Kassirer Asset Management Corp’s portfolio.Heathbridge Capital Management Ltd. boosted its stake in MFC in the latest quarter, The investment management firm added 102,000 additional shares and now holds a total of 1,553,300 shares of Manulife Financial Corporation (USA) which is valued at $22.9 Million. Manulife Financial Corporation (USA) makes up approx 6.12% of Heathbridge Capital Management Ltd.’s portfolio.

Manulife Financial Corporation (USA) opened for trading at $14.82 and hit $15.06 on the upside on Wednesday, eventually ending the session at $14.94, with a gain of 1.43% or 0.21 points. The heightened volatility saw the trading volume jump to 23,66,920 shares. Company has a market cap of $29,467 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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