Jarislowsky Fraser Ltd buys $591,023,271 stake in Manulife Financial Corporation (USA) (MFC)

Manulife Financial Corporation (USA) (MFC) : Jarislowsky Fraser Ltd scooped up 394,103 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 Nov 14, 2016. The investment management firm now holds a total of 34,603,236 shares of Manulife Financial Corporation (USA) which is valued at $591,023,271.Manulife Financial Corporation (USA) makes up approximately 3.99% of Jarislowsky Fraser Ltd’s portfolio.

Other Hedge Funds, Including , Wall Street Access Asset Management boosted its stake in MFC in the latest quarter, The investment management firm added 9,250 additional shares and now holds a total of 169,997 shares of Manulife Financial Corporation (USA) which is valued at $2,903,549. Manulife Financial Corporation (USA) makes up approx 1.67% of Wall Street Access Asset Management’s portfolio. Motco added MFC to its portfolio by purchasing 640 company shares during the most recent quarter which is valued at $9,350.Flippin Bruce Porter Inc boosted its stake in MFC in the latest quarter, The investment management firm added 15,550 additional shares and now holds a total of 133,705 shares of Manulife Financial Corporation (USA) which is valued at $1,906,633. Manulife Financial Corporation (USA) makes up approx 0.54% of Flippin Bruce Porter Inc’s portfolio.Spot Trading L.l.c reduced its stake in MFC by selling 22,244 shares or 49.94% in the most recent quarter. The Hedge Fund company now holds 22,298 shares of MFC which is valued at $319,530. Manulife Financial Corporation (USA) makes up approx 0.05% of Spot Trading L.l.c’s portfolio.

Manulife Financial Corporation (USA) opened for trading at $16.83 and hit $17.045 on the upside on Monday, eventually ending the session at $16.99, with a gain of 0.87% or 0.1472 points. The heightened volatility saw the trading volume jump to 22,71,863 shares. Company has a market cap of $33,525 M.

On the company’s financial health, Manulife Financial Corporation (USA) reported $0.49 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Nov 10, 2016. Analyst had a consensus of $0.45.Analysts expectations of $ 7278.06.During the same quarter in the previous year, the company posted $0.43 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 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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