Beutel Goodman Co Ltd. Lowers stake in Manulife Financial Corporation (USA) (MFC)

Manulife Financial Corporation (USA) (MFC) : Beutel Goodman Co Ltd. reduced its stake in Manulife Financial Corporation (USA) by 0.84% during the most recent quarter end. The investment management company now holds a total of 23,312,642 shares of Manulife Financial Corporation (USA) which is valued at $338,499,562 after selling 197,905 shares in Manulife Financial Corporation (USA) , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Manulife Financial Corporation (USA) makes up approximately 3.25% of Beutel Goodman Co Ltd.’s portfolio.

Other Hedge Funds, Including , Creative Planning boosted its stake in MFC in the latest quarter, The investment management firm added 7,710 additional shares and now holds a total of 22,460 shares of Manulife Financial Corporation (USA) which is valued at $326,119. Simplex Trading sold out all of its stake in MFC during the most recent quarter. The investment firm sold 639 shares of MFC which is valued $9,208. West Oak Capital added MFC to its portfolio by purchasing 288 company shares during the most recent quarter which is valued at $4,182.

Manulife Financial Corporation (USA) closed down -0.04 points or -0.27% at $14.52 with 29,98,167 shares getting traded on Tuesday. Post opening the session at $14.56, the shares hit an intraday low of $14.49 and an intraday high of $14.68 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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