Futu Holdings Limited (NASDAQ:FUTU) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its position in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 81.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Marshall Wace LLP grew its position in shares of Futu by 71.5% in the 2nd quarter. Marshall Wace LLP now owns 1,521,314 shares of the company's stock worth $99,813,000 after buying an additional 634,369 shares during the last quarter. E Fund Management Co. Ltd. acquired a new stake in Futu in the 2nd quarter worth approximately $31,490,000. Veritas Asset Management LLP acquired a new stake in Futu in the 3rd quarter worth approximately $39,547,000. Yong Rong HK Asset Management Ltd boosted its stake in Futu by 2,525.3% in the 3rd quarter. Yong Rong HK Asset Management Ltd now owns 393,800 shares of the company's stock worth $37,667,000 after purchasing an additional 378,800 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in Futu by 3,253,333.3% in the 2nd quarter. National Bank of Canada FI now owns 292,809 shares of the company's stock worth $18,790,000 after purchasing an additional 292,800 shares in the last quarter.

Futu Trading Up 17.8 %

NASDAQ FUTU traded up $14.81 on Monday, hitting $98.08. 9,698,918 shares of the company's stock traded hands, compared to its average volume of 2,367,026. Futu Holdings Limited has a 1-year low of $43.61 and a 1-year high of $130.50. The firm's 50-day moving average price is $96.14 and its two-hundred day moving average price is $76.47. The firm has a market capitalization of $13.51 billion, a PE ratio of 24.36, a P/E/G ratio of 0.85 and a beta of 0.72.

Futu Dividend Announcement

The firm also recently disclosed a -- dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 6th will be paid a dividend of $2.00 per share. The ex-dividend date is Friday, December 6th.

Analyst Ratings Changes

A number of analysts recently commented on FUTU shares. Bank of America lifted their target price on shares of Futu from $80.20 to $90.00 and gave the stock a "buy" rating in a research note on Friday, September 27th. Citigroup cut shares of Futu from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $79.00 to $95.00 in a research note on Tuesday, November 19th. Finally, Morgan Stanley upgraded shares of Futu from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $70.00 to $115.00 in a research note on Monday, November 18th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Futu has a consensus rating of "Moderate Buy" and an average target price of $87.33.

About Futu

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.