The Manufacturers Life Insurance Company Has $35.06 Million Stock Position in Algonquin Power & Utilities Corp. $AQN

Key Takeaways:

• The Manufacturers Life Insurance Company decreased its stake in Algonquin Power & Utilities by 16.2%.
• The transaction involved selling 1,322,607 shares in the first quarter.
• The remaining holdings stand at 6,818,069 shares.
• The total position is valued at $35.06 million.
• The move was reported in the company’s most recent 13F filing with the SEC.

Introduction

The Manufacturers Life Insurance Company recently announced a notable shift in its investment portfolio, making changes to its stake in Algonquin Power & Utilities Corp. This development was revealed in the company’s first-quarter 13F filing, a routine disclosure to the Securities & Exchange Commission that helps investors track institutional holdings.

The 13F Filing

Under U.S. securities regulations, large institutional investors are required to submit 13F filings detailing their holdings. In this filing, The Manufacturers Life Insurance Company reported that it lowered its position in Algonquin Power & Utilities. Such filings offer a snapshot of an investor’s strategy and can signal changing views on a particular stock.

Details of the Share Reduction

According to the filing, the insurance company sold 1,322,607 shares this quarter. After this 16.2% reduction, it now holds 6,818,069 shares of Algonquin Power & Utilities Corp. At the time of reporting, the total remaining position is valued at $35.06 million.

Conclusion

This move marks a significant adjustment to The Manufacturers Life Insurance Company’s engagement with Algonquin Power & Utilities Corp. While the long-term implications of the reduction remain to be seen, filings like these provide investors with a clear view of the changing landscape in institutional holdings—a key factor in understanding market sentiment.