Wellington Management Group LLP Acquires 16,457 Shares of Manulife Financial Co. (NYSE:MFC)

Wellington Management Group LLP lifted its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 424,195 shares of the financial services provider’s stock after acquiring an additional 16,457 shares during the period. Wellington Management Group LLP’s holdings in Manulife Financial were worth $9,419,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Anchor Investment Management LLC purchased a new position in Manulife Financial during the 4th quarter valued at about $27,000. Fortis Group Advisors LLC increased its holdings in Manulife Financial by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 1,210 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 605 shares during the period. Trust Co. of Vermont lifted its stake in Manulife Financial by 478.5% in the 3rd quarter. Trust Co. of Vermont now owns 1,533 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 1,268 shares in the last quarter. Creekmur Asset Management LLC bought a new position in Manulife Financial in the 4th quarter valued at $30,000. Finally, Goodman Advisory Group LLC purchased a new position in shares of Manulife Financial during the 4th quarter valued at $32,000. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, National Bank Financial upgraded Manulife Financial from a “sector perform” rating to an “outperform” rating in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $33.33.

Manulife Financial Price Performance

Shares of NYSE:MFC opened at $26.51 on Friday. Manulife Financial Co. has a one year low of $17.07 and a one year high of $26.81. The firm has a market capitalization of $47.44 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 0.97 and a beta of 1.09. The company’s fifty day moving average price is $25.27 and its 200-day moving average price is $23.73.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.04. Manulife Financial had a return on equity of 16.27% and a net margin of 9.28%. The business had revenue of $9.49 billion for the quarter, compared to the consensus estimate of $8.85 billion. As a group, equities research analysts expect that Manulife Financial Co. will post 2.74 EPS for the current year.

Manulife Financial Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.38%. The ex-dividend date was Tuesday, May 21st. Manulife Financial’s dividend payout ratio is currently 67.44%.

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.