As Manulife Financial Corp. (NYSE:MFC) Price Declined, Shareholder Pcj Investment Counsel Ltd Lowered Its Position

May 17, 2018 - By Mike Johnson

Manulife Financial Corporation (NYSE:MFC) Corporate Logo

In 2018Q1 Securities and Exchange form is reported Pcj Investment Counsel Ltd’s holdings in Manulife Financial Corp. (NYSE:MFC) which was decreased by 21.56%. The company’s stock Sank 12.62% while Pcj Investment Counsel Ltd sold 705,610 shares. At the end of 2018Q1, the institutional investor held 2.57 million shares of the life insurance company, valued at $47.64M, down from 3.27 million at the end of the previous reported quarter. Pcj Investment Counsel Ltd has risen its stake in Brookfield Asset Management Inc. (NYSE:BAM) 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 worth $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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