Shareholder Scotia Capital INC Has Upped Manulife Finl Corp (MFC) Position

April 23, 2018 - By Marie Mckinney

Manulife Financial Corporation (NYSE:MFC) Logo

Scotia Capital Inc increased its stake in Manulife Finl Corp (MFC) by 8.21% based on its latest 2017Q4 regulatory filing with the SEC. Scotia Capital Inc bought 764,012 shares as the company’s stock declined 12.62% with the market. The institutional investor held 10.07 million shares of the life insurance company at the end of 2017Q4, valued at $209.99 million, up from 9.30 million at the end of the previous reported quarter. Scotia Capital Inc who had been investing in Manulife Finl Corp for a number of months, seems to be bullish on the $36.07B market cap company. The stock increased 0.48% or $0.09 during the last trading session, reaching $18.91. About 448,202 shares traded. Manulife Financial Corporation (NYSE:MFC) has risen 4.92% since April 23, 2017 and is uptrending. It has underperformed by 6.63% the S&P500.

Scotia Capital Inc, which manages about $7.50B US Long portfolio, decreased its stake in Costco Whsl Corp New (NASDAQ:COST) by 24,056 shares to 132,523 shares, valued at $24.67M in 2017Q4, according to the filing. It also reduced its holding in Shaw Communications Inc (NYSE:SJR) by 406,147 shares in the quarter, leaving it with 3.39 million shares, and cut its stake in Verizon Communications Inc (NYSE:VZ).

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