1832 Asset Management L.P. Reduces $13M in Manulife Financial Corporation ($MFC)
Key Points
- 1832 Asset Management L.P. changed its Manulife Financial Corporation ($MFC) stake by 1.2% last quarter, cutting to 28,248,714 shares worth $1.13 billion.
- Wall Street's consensus rating on $MFC is Buy and an average price target of $33.98.
- $MFC last traded around $40.06.
1832 Asset Management L.P. trimmed its position in Manulife Financial Corporation ($MFC) by 1.2% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,248,714 shares of Manulife Financial Corporation after selling 329,427 shares during the quarter. 1832 Asset Management L.P.'s holdings in Manulife Financial Corporation were worth $1.13 billion as of its most recent filing.
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About Manulife Financial Corporation
Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. It operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks. The Insurance and Annuity Products segment provides deposit and credit products; and individual life insurance, individual and group long-term care insurance, and guaranteed and partially guaranteed annuity products through multiple distribution channels, including insurance agents, brokers, banks, financial planners, and direct marketing. The Corporate and Other segment is involved in the property and casualty reinsurance businesses; and run-off reinsurance operations, including variable annuities, and accident and health. The company also manages timberland and agricultural portfolios; and engages in the insurance agency, broker dealer, investment counseling, portfolio and mutual fund management, property and casualty insurance, and fund and investment management businesses. In addition, it provides integrated banking products and services, as well as offers asset management services. The company was incorporated in 1887 and is headquartered in Toronto, Canada.
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