Manulife Financial Corp. (NYSE:MFC) Shareholder Pcj Investment Counsel Ltd Trimmed Position as Price Declined by $12.70 Million

May 17, 2018 - By Elliot Rainer

Manulife Financial Corporation (NYSE:MFC) Corporate Logo

Based on the latest 2018Q1 regulatory filing with the SEC, Pcj Investment Counsel Ltd reduced its stake in Manulife Financial Corp. (NYSE:MFC) by 21.56%. 705,610 shares were sold by Pcj Investment Counsel Ltd as the company’s stock declined 12.62% with the market. At the end of 2018Q1, the 2.57M shares of the life insurance company held by the institutional investor were valued at $47.64 million, down from 3.27M at the end of the previous reported quarter. For a total of 1.89M shares it increased its holding in Bank Of Nova Scotia (NYSE:BNS) by 169,480 shares in the quarter, and has risen its stake in Canadian Pacific Railway Ltd. (NYSE:CP).

Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States.The firm is valued at $38.41 billion. It offers various individual life, and individual and group long-term care insurance through insurance agents, brokers, banks, financial planners, and direct marketing.The P/E ratio is 26.06. The firm also provides pension contracts and mutual fund services and products; various retirement products to group benefit plans; and annuities, single premium, and banking products, such as deposit and credit products to Canadian customers, as well as non-guaranteed, partially guaranteed, and fully guaranteed investment options through general and separate account products.

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