Manulife Financial Co. (NYSE:MFC) Shares Acquired by Cidel Asset Management Inc.

Cidel Asset Management Inc. grew its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.1% in the 4th quarter, HoldingsChannel reports. The firm owned 494,733 shares of the financial services provider’s stock after acquiring an additional 5,226 shares during the quarter. Cidel Asset Management Inc.’s holdings in Manulife Financial were worth $15,191,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MFC. National Bank of Canada FI lifted its stake in Manulife Financial by 13.5% during the third quarter. National Bank of Canada FI now owns 28,063,936 shares of the financial services provider’s stock valued at $829,374,000 after buying an additional 3,329,892 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Manulife Financial by 8.1% during the third quarter. Geode Capital Management LLC now owns 8,273,260 shares of the financial services provider’s stock valued at $247,473,000 after acquiring an additional 616,517 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Manulife Financial by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,186,930 shares of the financial services provider’s stock valued at $153,455,000 after acquiring an additional 158,216 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Manulife Financial by 1.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,035,663 shares of the financial services provider’s stock worth $60,202,000 after purchasing an additional 36,838 shares during the period. Finally, Franklin Resources Inc. grew its position in Manulife Financial by 16.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,988,200 shares of the financial services provider’s stock worth $61,426,000 after purchasing an additional 279,418 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Stock Up 0.4 %

MFC opened at $30.14 on Friday. The firm has a market capitalization of $52.11 billion, a P/E ratio of 14.56, a PEG ratio of 1.04 and a beta of 1.09. The stock has a fifty day moving average of $30.73 and a 200-day moving average of $29.43. Manulife Financial Co. has a 12-month low of $21.95 and a 12-month high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The firm had revenue of $10.69 billion during the quarter, compared to the consensus estimate of $9.73 billion. During the same period in the prior year, the business earned $0.69 EPS. On average, analysts expect that Manulife Financial Co. will post 2.67 earnings per share for the current fiscal year.

About Manulife Financial

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.