The Manufacturers Life Insurance Company Reduces Holdings in Futu Holdings Limited (NASDAQ:FUTU)

The Manufacturers Life Insurance Company lessened its stake in shares of Futu Holdings Limited (NASDAQ:FUTU) by 81.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 24,231 shares of the company’s stock after selling 107,901 shares during the period. The Manufacturers Life Insurance Company’s holdings in Futu were worth $2,318,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FUTU. GAMMA Investing LLC raised its holdings in Futu by 181.5% during the third quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock valued at $57,000 after acquiring an additional 383 shares during the period. CWM LLC lifted its stake in shares of Futu by 67.7% in the 3rd quarter. CWM LLC now owns 743 shares of the company’s stock valued at $71,000 after purchasing an additional 300 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Futu during the second quarter worth $50,000. Venturi Wealth Management LLC bought a new position in Futu during the 3rd quarter valued at about $92,000. Finally, SG Americas Securities LLC bought a new position in shares of Futu during the second quarter valued at approximately $123,000.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Morgan Stanley raised shares of Futu from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $70.00 to $115.00 in a research note on Monday, November 18th. Citigroup cut Futu from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $79.00 to $95.00 in a research note on Tuesday, November 19th. Finally, Bank of America raised their target price on shares of Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research note on Friday, September 27th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $87.33.

Futu Trading Down 4.1 %

Shares of NASDAQ:FUTU opened at $83.27 on Monday. The company’s 50 day moving average is $96.14 and its 200 day moving average is $76.47. Futu Holdings Limited has a twelve month low of $43.61 and a twelve month high of $130.50. The company has a market cap of $11.47 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 0.88 and a beta of 0.72.

Futu Dividend Announcement

The business also recently declared a — dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 6th will be given a dividend of $2.00 per share. The ex-dividend date is Friday, December 6th.

Futu Profile

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.