Wellington Management Group LLP Acquires 365,761 Shares of Manulife Financial Co. (NYSE:MFC)

Wellington Management Group LLP boosted its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 131.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 644,602 shares of the financial services provider's stock after acquiring an additional 365,761 shares during the quarter. Wellington Management Group LLP's holdings in Manulife Financial were worth $19,072,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MFC. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Manulife Financial by 1,210.7% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,161,059 shares of the financial services provider's stock worth $30,922,000 after purchasing an additional 1,072,474 shares during the last quarter. Legal & General Group Plc raised its position in shares of Manulife Financial by 0.5% in the 2nd quarter. Legal & General Group Plc now owns 14,783,400 shares of the financial services provider's stock worth $393,592,000 after acquiring an additional 75,244 shares in the last quarter. Toronto Dominion Bank lifted its position in Manulife Financial by 3.2% during the second quarter. Toronto Dominion Bank now owns 24,057,503 shares of the financial services provider's stock valued at $640,411,000 after buying an additional 750,422 shares during the period. Sumitomo Life Insurance Co. purchased a new stake in shares of Manulife Financial in the 2nd quarter worth about $794,000. Finally, DRW Securities LLC purchased a new position in Manulife Financial during the 3rd quarter valued at about $1,008,000. 52.56% of the stock is owned by institutional investors.

Manulife Financial Trading Up 0.4 %

NYSE:MFC traded up $0.11 during mid-day trading on Friday, reaching $30.93. The company's stock had a trading volume of 5,946,048 shares, compared to its average volume of 2,538,545. The firm's fifty day moving average price is $31.19 and its two-hundred day moving average price is $28.29. The stock has a market cap of $54.19 billion, a P/E ratio of 14.94, a PEG ratio of 1.16 and a beta of 1.09. Manulife Financial Co. has a 12-month low of $20.78 and a 12-month high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.30. The firm had revenue of $10.69 billion for the quarter, compared to analysts' expectations of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same period in the prior year, the firm earned $0.69 EPS. Analysts predict that Manulife Financial Co. will post 2.72 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.296 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.18 annualized dividend and a dividend yield of 3.83%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.29. Manulife Financial's dividend payout ratio is presently 57.00%.

Analyst Upgrades and Downgrades

Separately, Barclays began coverage on Manulife Financial in a research report on Thursday, September 5th. They issued an "equal weight" rating on the stock. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Manulife Financial currently has an average rating of "Buy" and an average target price of $37.50.

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.