Agf Investments Lowers stake in Manulife Financial Corporation (USA) (MFC)

Manulife Financial Corporation (USA) (MFC) : Agf Investments reduced its stake in Manulife Financial Corporation (USA) by 8.54% during the most recent quarter end. The investment management company now holds a total of 4,009,325 shares of Manulife Financial Corporation (USA) which is valued at $55,128,219 after selling 374,328 shares in Manulife Financial Corporation (USA) , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Manulife Financial Corporation (USA) makes up approximately 0.60% of Agf Investments’s portfolio.

Other Hedge Funds, Including , 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.Jones Collombin Investment Counsel Inc boosted its stake in MFC in the latest quarter, The investment management firm added 28,762 additional shares and now holds a total of 812,272 shares of Manulife Financial Corporation (USA) which is valued at $11,249,967. Manulife Financial Corporation (USA) makes up approx 3.25% of Jones Collombin Investment Counsel Inc’s portfolio. Simplex Trading added MFC to its portfolio by purchasing 639 company shares during the most recent quarter which is valued at $8,805. Cutler Group Lp sold out all of its stake in MFC during the most recent quarter. The investment firm sold 961 shares of MFC which is valued $12,954.

Manulife Financial Corporation (USA) closed down -0.74 points or -5.38% at $13.01 with 37,93,605 shares getting traded on Thursday. Post opening the session at $13.15, the shares hit an intraday low of $12.94 and an intraday high of $13.21 and the price fluctuated in this range throughout the day.Shares ended Thursday 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 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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