Wellington Management Group LLP Acquires 8,128 Shares of Manulife Financial Co. (NYSE:MFC)

Wellington Management Group LLP grew its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 652,730 shares of the financial services provider's stock after purchasing an additional 8,128 shares during the quarter. Wellington Management Group LLP's holdings in Manulife Financial were worth $20,042,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Manulife Financial in the fourth quarter valued at about $654,751,000. FIL Ltd boosted its stake in shares of Manulife Financial by 21.7% in the 4th quarter. FIL Ltd now owns 39,610,614 shares of the financial services provider's stock valued at $1,216,880,000 after purchasing an additional 7,053,066 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Manulife Financial by 28.7% during the 4th quarter. Geode Capital Management LLC now owns 10,650,598 shares of the financial services provider's stock worth $333,291,000 after buying an additional 2,377,338 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Manulife Financial by 42.1% during the fourth quarter. Canada Pension Plan Investment Board now owns 7,427,745 shares of the financial services provider's stock worth $227,895,000 after buying an additional 2,200,000 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its holdings in Manulife Financial by 216.0% in the fourth quarter. Hillsdale Investment Management Inc. now owns 2,545,393 shares of the financial services provider's stock valued at $78,110,000 after buying an additional 1,739,853 shares during the period. Institutional investors own 52.56% of the company's stock.

Manulife Financial Stock Performance

Shares of MFC traded down $0.08 during trading hours on Wednesday, reaching $31.86. The stock had a trading volume of 309,827 shares, compared to its average volume of 2,124,216. The company's 50-day moving average is $30.38 and its two-hundred day moving average is $30.54. Manulife Financial Co. has a 12 month low of $23.30 and a 12 month high of $33.07. The stock has a market capitalization of $54.57 billion, a PE ratio of 15.39, a PEG ratio of 1.11 and a beta of 1.00.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.01). The company had revenue of $1.49 billion during the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. During the same period last year, the firm posted $0.94 earnings per share. Equities analysts anticipate that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Wednesday, May 21st will be issued a $0.3194 dividend. This is a positive change from Manulife Financial's previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, May 21st. This represents a $1.28 annualized dividend and a yield of 4.01%. Manulife Financial's payout ratio is presently 63.87%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Royal Bank of Canada increased their target price on Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a research note on Friday, February 21st. Morgan Stanley set a $46.00 target price on Manulife Financial in a research report on Monday, May 19th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Manulife Financial has a consensus rating of "Buy" and a consensus price target of $45.67.

Manulife Financial Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.