1832 Asset Management buys $538,791,575 stake in Manulife Financial Corporation (USA) (MFC)

Manulife Financial Corporation (USA) (MFC) : 1832 Asset Management scooped up 928,388 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 Aug 12, 2016. The investment management firm now holds a total of 41,066,431 shares of Manulife Financial Corporation (USA) which is valued at $538,791,575.Manulife Financial Corporation (USA) makes up approximately 2.02% of 1832 Asset Management’s portfolio.

Other Hedge Funds, Including , Agf Investments reduced its stake in MFC by selling 374,328 shares or 8.54% in the most recent quarter. The Hedge Fund company now holds 4,009,325 shares of MFC which is valued at $55,128,219. Manulife Financial Corporation (USA) makes up approx 0.60% of Agf Investments’s portfolio.

Manulife Financial Corporation (USA) opened for trading at $13.67 and hit $13.8 on the upside on Monday, eventually ending the session at $13.76, with a gain of 0.36% or 0.05 points. The heightened volatility saw the trading volume jump to 14,39,484 shares. Company has a market cap of $27,147 M.

On the company’s financial health, Manulife Financial Corporation (USA) reported $0.40 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $0.45.Analysts expectations of $ 12930.07.During the same quarter in the previous year, the company posted $0.44 EPS.

Many Wall Street Analysts have commented on Manulife Financial Corporation (USA). Manulife Financial Corporation (USA) was Resumed by BofA/Merrill to “Buy” on Aug 24, 2016. Manulife Financial Corporation (USA) was Downgraded by Macquarie to ” Neutral” on Aug 4, 2016. Manulife Financial Corporation (USA) was Downgraded by CIBC to ” Sector Perform” on Aug 4, 2016.

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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