Cormark Forecasts Increased Earnings for Manulife Financial

Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC - Cormark raised their FY2025 earnings per share (EPS) estimates for Manulife Financial in a report issued on Thursday, November 7th. Cormark analyst L. Persaud now expects that the financial services provider will post earnings of $2.92 per share for the year, up from their previous estimate of $2.87. The consensus estimate for Manulife Financial's current full-year earnings is $2.75 per share.

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 EPS for the quarter, topping the consensus estimate of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The business had revenue of $10.69 billion for the quarter, compared to analysts' expectations of $9.73 billion. During the same quarter in the previous year, the firm posted $0.69 earnings per share.

MFC has been the subject of several other reports. Dbs Bank raised Manulife Financial to a "strong-buy" rating in a report on Thursday, August 8th. Barclays assumed coverage on Manulife Financial in a report on Thursday, September 5th. They set an "equal weight" rating for the company. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Manulife Financial presently has an average rating of "Buy" and a consensus price target of $37.50.

Manulife Financial Trading Up 1.9 %

Manulife Financial stock traded up $0.61 during midday trading on Monday, hitting $32.40. The stock had a trading volume of 1,423,037 shares, compared to its average volume of 2,531,066. The stock has a market cap of $56.99 billion, a P/E ratio of 15.36, a P/E/G ratio of 1.15 and a beta of 1.08. Manulife Financial has a 12 month low of $18.56 and a 12 month high of $32.94. The business has a fifty day moving average price of $29.39 and a 200 day moving average price of $27.11.

Institutional Investors Weigh In On Manulife Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Toronto Dominion Bank raised its stake in Manulife Financial by 57.9% during the 1st quarter. Toronto Dominion Bank now owns 23,307,081 shares of the financial services provider's stock valued at $582,444,000 after purchasing an additional 8,548,114 shares during the period. 1832 Asset Management L.P. raised its stake in Manulife Financial by 103.1% during the 1st quarter. 1832 Asset Management L.P. now owns 14,686,893 shares of the financial services provider's stock valued at $367,025,000 after purchasing an additional 7,456,712 shares during the period. National Bank of Canada FI raised its stake in Manulife Financial by 14.8% during the 1st quarter. National Bank of Canada FI now owns 28,803,968 shares of the financial services provider's stock valued at $749,435,000 after purchasing an additional 3,720,693 shares during the period. M&G Plc acquired a new stake in Manulife Financial during the 1st quarter valued at $75,231,000. Finally, Acadian Asset Management LLC raised its stake in Manulife Financial by 288.4% during the 2nd quarter. Acadian Asset Management LLC now owns 3,943,509 shares of the financial services provider's stock valued at $104,966,000 after purchasing an additional 2,928,316 shares during the period. Institutional investors and hedge funds own 52.56% of the company's stock.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be given a $0.296 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 3.65%. This is an increase from Manulife Financial's previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, November 20th. Manulife Financial's dividend payout ratio is 56.04%.

About Manulife Financial

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.