Pcj Investment Counsel Ltd Position in Manulife Financial Corp. (NYSE:MFC) Lowered as Price Declined

May 17, 2018 - By Victoria Pittman

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%. The company’s stock declined 12.62% with the market as Pcj Investment Counsel Ltd sold 705,610 shares. The institutional investor is holding 2.57 million shares, compared to the 3.27 million from the previous quarter. And the reported value of the life insurance company is $47.64 million for the 2018Q1. For a total of 1.54M shares it increased its holding in Brookfield Asset Management Inc. (NYSE:BAM) by 407,460 shares in the quarter, and has risen its stake in Canadian Natural Resources Ltd. (NYSE:CNQ).

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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