SCHEDULE 13G/A: Manulife Group Updates Significant Stake in First Hawaiian, Inc. to 7.92%
Beneficial Ownership Amendment
Manulife Financial Corporation and its investment management subsidiaries have filed an amended Schedule 13G, disclosing a beneficial ownership of 7.92% in First Hawaiian, Inc. as of December 31, 2024.
Summary
- Manulife Financial Corporation, along with its indirect wholly-owned subsidiaries Manulife Investment Management (US) LLC (MIM (US)) and Manulife Investment Management Limited (MIML), filed an Amendment No. 3 to their Schedule 13G.
- As of December 31, 2024, MIM (US) beneficially owned 10,117,417 shares of First Hawaiian, Inc. Common Stock, representing 7.91% of the class.
- MIML beneficially owned 15,891 shares, representing 0.01% of the class.
- Manulife Financial Corporation, as the parent holding company, is deemed to have beneficial ownership of the aggregate shares held by its subsidiaries.
- The total aggregate beneficial ownership by the Manulife group in First Hawaiian, Inc. is 10,133,308 shares, which constitutes 7.92% of the outstanding Common Stock.
- The total outstanding shares of First Hawaiian, Inc. Common Stock were 127,886,167 as of October 31, 2024, based on the issuer's Form 10-Q filed on November 4, 2024.
Sentiment
Score: 5
Explanation: The document is a neutral, factual compliance filing disclosing beneficial ownership, with no positive or negative operational or financial information about the issuer or reporting entities.
Future Outlook
The document is a compliance filing and does not contain any forward-looking statements or guidance regarding the issuer's or reporting persons' future outlook.
Management Comments
- Graham Miller / Agent (Manulife Financial Corporation) signed pursuant to a Power of Attorney dated January 17, 2018.
- Kuno Tucker / Chief Compliance Officer (Manulife Investment Management Limited) signed the filing.
- Paul Donahue / Chief Compliance Officer (Manulife Investment Management (US) LLC) signed the filing.
Industry Context
This filing represents a routine disclosure by a large institutional investor, Manulife, regarding its passive ownership stake in First Hawaiian, Inc., a regional bank. Such disclosures are standard practice for investors holding more than 5% of a company's stock and provide transparency on significant institutional holdings within the financial sector.
Stakeholder Impact
- Shareholders of First Hawaiian, Inc. are informed of the current significant ownership stake held by the Manulife group, providing transparency on institutional holdings.
Key Dates
| Date | Description |
|---|---|
| January 17, 2018 | Date of Power of Attorney for Graham Miller, Agent for Manulife Financial Corporation. |
| January 29, 2018 | Date Power of Attorney was filed with the SEC as Exhibit A to Schedule 13F-NT by Manulife Financial Corporation. |
| October 31, 2024 | Date as of which First Hawaiian, Inc. reported 127,886,167 shares of Common Stock outstanding in its Form 10-Q. |
| November 4, 2024 | Date First Hawaiian, Inc. filed its Form 10-Q with the Securities and Exchange Commission. |
| December 31, 2024 | Date of event which requires the filing of this Schedule 13G/A (snapshot date for beneficial ownership). |
| February 4, 2025 | Signature date for Manulife Financial Corporation on the Joint Filing Agreement and Schedule 13G. |
| February 12, 2025 | Signature date for Manulife Investment Management Limited and Manulife Investment Management (US) LLC on the Joint Filing Agreement and Schedule 13G. |
Keywords
Manulife Financial Corporation, First Hawaiian Inc., Schedule 13G/A, Beneficial Ownership, Institutional Investor, SEC Filing, Common Stock, Investment Management, Financial Services
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