Manulife Finl Corp (MFC) Holder Causeway Capital Management LLC Lifted Holding by $468.80 Million as Stock Value Declined

June 14, 2018 - By James Hentges

Manulife Financial Corporation (NYSE:MFC) Logo

Causeway Capital Management Llc increased its stake in Manulife Finl Corp (MFC) by 105.74% based on its latest 2018Q1 regulatory filing with the SEC. Causeway Capital Management Llc bought 26.04 million shares as the company’s stock declined 1.34% with the market. The institutional investor held 50.68 million shares of the life insurance company at the end of 2018Q1, valued at $941.56M, up from 24.63 million at the end of the previous reported quarter. Causeway Capital Management Llc who had been investing in Manulife Finl Corp for a number of months, seems to be bullish on the $38.02 billion market cap company. The stock increased 0.63% or $0.12 during the last trading session, reaching $19.19. About 1.23M shares traded. Manulife Financial Corporation (NYSE:MFC) has risen 9.28% since June 14, 2017 and is uptrending. It has underperformed by 3.29% the S&P500.

Causeway Capital Management Llc, which manages about $27.14 billion and $9.33 billion US Long portfolio, decreased its stake in Pdc Energy Inc (NASDAQ:PDCE) by 758,202 shares to 4.02M shares, valued at $197.09M in 2018Q1, according to the filing. It also reduced its holding in Wisdomtree Tr (EPI) by 1.11 million shares in the quarter, leaving it with 1.15 million shares, and cut its stake in Baidu Inc (NASDAQ:BIDU).

More news for Manulife Financial Corporation (NYSE:MFC) were recently published by: Seekingalpha.com, which released: “Manulife Financial – Overvalued Now, But Still An Opportunity For Growth” on May 16, 2018. Nasdaq.com‘s article titled: “New Research Coverage Highlights Cameco, GSV Capital, Janus Henderson Group, Manulife Financial, Nomad …” and published on June 08, 2018 is yet another important article.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.