Triasima Portfolio Management inc. Reduces Stake in Manulife Financial Co. (NYSE:MFC)

Triasima Portfolio Management inc. decreased its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 10.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 377,214 shares of the financial services provider’s stock after selling 44,194 shares during the quarter. Manulife Financial comprises approximately 2.2% of Triasima Portfolio Management inc.’s portfolio, making the stock its 7th largest holding. Triasima Portfolio Management inc.’s holdings in Manulife Financial were worth $11,582,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crews Bank & Trust purchased a new position in Manulife Financial during the fourth quarter worth about $26,000. Brooklyn Investment Group bought a new position in shares of Manulife Financial during the 3rd quarter worth approximately $26,000. West Financial Advisors LLC purchased a new position in shares of Manulife Financial in the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP bought a new position in shares of Manulife Financial in the third quarter valued at approximately $30,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Manulife Financial during the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Trading Up 0.4 %

Shares of Manulife Financial stock opened at $30.00 on Friday. The firm has a market capitalization of $51.85 billion, a P/E ratio of 14.49, a price-to-earnings-growth ratio of 1.04 and a beta of 1.09. The business’s fifty day simple moving average is $30.76 and its 200 day simple moving average is $29.42. 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 released its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.30. The company had revenue of $10.69 billion for the quarter, compared to analysts’ expectations of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same period in the previous year, the business posted $0.69 EPS. Analysts predict that Manulife Financial Co. will post 2.67 EPS for the current fiscal year.

Manulife Financial Company Profile

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.