Mackenzie Financial Corp adds Manulife Financial Corporation (USA) (MFC) to its portfolio

Manulife Financial Corporation (USA) (MFC) : Mackenzie Financial Corp added new position in Manulife Financial Corporation (USA) during the most recent quarter end. The investment management firm now holds 17,359,645 shares of Manulife Financial Corporation (USA) which is valued at $227,758,542 , the company said in a statement filed on Aug 12, 2016 with the SEC.Manulife Financial Corporation (USA) makes up approximately 1.24% of Mackenzie Financial Corp’s portfolio.

Other Hedge Funds, Including , Korea Investment Corp boosted its stake in MFC in the latest quarter, The investment management firm added 41,100 additional shares and now holds a total of 103,700 shares of Manulife Financial Corporation (USA) which is valued at $1,360,544. Manulife Financial Corporation (USA) makes up approx 0.01% of Korea Investment Corp’s portfolio.Pinebridge Investments boosted its stake in MFC in the latest quarter, The investment management firm added 14,425 additional shares and now holds a total of 27,841 shares of Manulife Financial Corporation (USA) which is valued at $365,274. Manulife Financial Corporation (USA) makes up approx 0.02% of Pinebridge Investments’s portfolio.Greystone Managed Investments reduced its stake in MFC by selling 2,377,114 shares or 21.06% in the most recent quarter. The Hedge Fund company now holds 8,912,622 shares of MFC which is valued at $117,913,989. Manulife Financial Corporation (USA) makes up approx 4.61% of Greystone Managed Investments’s portfolio.Ngam Advisors boosted its stake in MFC in the latest quarter, The investment management firm added 38,331 additional shares and now holds a total of 553,701 shares of Manulife Financial Corporation (USA) which is valued at $7,613,389. Manulife Financial Corporation (USA) makes up approx 0.10% of Ngam Advisors’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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