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

May 17, 2018 - By Elizabeth Bryant

Manulife Financial Corporation (NYSE:MFC) Corporate Logo

Pcj Investment Counsel Ltd’s holdings in Manulife Financial Corp. (NYSE:MFC) is reduced by 21.56% based on its latest 2018Q1 regulatory filing with the SEC. The company’s stock Sank 12.62% while Pcj Investment Counsel Ltd sold 705,610 shares. The life insurance company reported $47.64 million value for the 2018Q1. Now the institutional investor is holding 2.57M shares, compared to the 3.27 million from the previous quarter. Pcj Investment Counsel Ltd has risen its stake in Canadian Natural Resources Ltd. (NYSE:CNQ) and also increased its holding in Canadian Pacific Railway Ltd. (NYSE:CP) by 113,360 shares in the quarter, for a total of 527,141 shares.

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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