Mackenzie Financial Corp Stake in Manulife Finl Corp (MFC) Has Cut by $4.66 Million

Manulife Financial Corporation (NYSE:MFC) Logo

Mackenzie Financial Corp decreased its stake in Manulife Finl Corp (MFC) by 1.71% based on its latest 2018Q3 regulatory filing with the SEC. Mackenzie Financial Corp sold 232,791 shares as the company’s stock declined 15.74% with the market. The hedge fund held 13.39M shares of the life insurance company at the end of 2018Q3, valued at $271.70 million, down from 13.62 million at the end of the previous reported quarter. Mackenzie Financial Corp who had been investing in Manulife Finl Corp for a number of months, seems to be less bullish one the $31.15 billion market cap company. The stock increased 1.03% or $0.16 during the last trading session, reaching $15.7. About 875,452 shares traded. Manulife Financial Corporation (NYSE:MFC) has declined 28.60% since January 14, 2018 and is downtrending. It has underperformed by 28.60% the S&P500.

Mackenzie Financial Corp, which manages about $61.70 billion and $18.54B US Long portfolio, upped its stake in Priceline Grp Inc (NASDAQ:PCLN) by 9,405 shares to 32,258 shares, valued at $59.06 million in 2018Q3, according to the filing. It also increased its holding in Pepsico Inc (NYSE:PEP) by 66,220 shares in the quarter, for a total of 807,084 shares, and has risen its stake in Corelogic Inc (NYSE:CLGX).

Analysts await Manulife Financial Corporation (NYSE:MFC) to report earnings on February, 6. They expect $0.50 earnings per share, up 8.70 % or $0.04 from last year’s $0.46 per share. MFC’s profit will be $992.01M for 7.85 P/E if the $0.50 EPS becomes a reality. After $0.57 actual earnings per share reported by Manulife Financial Corporation for the previous quarter, Wall Street now forecasts -12.28 % negative EPS growth.

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