Desjardins Reduces Earnings Estimates for Manulife Financial

Manulife Financial Co. (TSE:MFC - Free Report) NYSE: MFC - Stock analysts at Desjardins decreased their Q1 2025 earnings estimates for Manulife Financial in a research report issued to clients and investors on Thursday, April 17th. Desjardins analyst D. Young now anticipates that the financial services provider will earn $0.96 per share for the quarter, down from their prior estimate of $1.02. The consensus estimate for Manulife Financial's current full-year earnings is $3.61 per share.

A number of other equities analysts also recently commented on the stock. CIBC raised their price objective on shares of Manulife Financial from C$47.00 to C$48.00 in a report on Friday, February 21st. TD Securities upped their price objective on Manulife Financial from C$48.00 to C$49.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Barclays decreased their price target on Manulife Financial from C$49.00 to C$45.00 in a research note on Friday, April 11th. Jefferies Financial Group reduced their target price on shares of Manulife Financial from C$51.00 to C$46.00 in a research note on Monday. Finally, Royal Bank of Canada set a C$51.00 price objective on shares of Manulife Financial and gave the stock an "outperform" rating in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$46.10.

Manulife Financial Price Performance

Shares of MFC traded up C$1.37 on Friday, reaching C$41.76. 2,627,358 shares of the stock traded hands, compared to its average volume of 6,803,048. The firm has a market cap of C$73.25 billion, a price-to-earnings ratio of 12.99, a P/E/G ratio of 1.01 and a beta of 1.06. Manulife Financial has a 12 month low of C$31.52 and a 12 month high of C$46.42. The stock's 50-day moving average price is C$42.26 and its 200-day moving average price is C$43.08.

Insider Buying and Selling

In related news, Director Brooks Tingle sold 3,866 shares of Manulife Financial stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of C$43.43, for a total value of C$167,882.21. Also, Senior Officer Steve Finch sold 11,598 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of C$43.43, for a total value of C$503,646.63. In the last 90 days, insiders sold 18,683 shares of company stock valued at $816,102. Company insiders own 0.03% of the company's stock.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 19th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend was Wednesday, March 5th. This is a boost from Manulife Financial's previous quarterly dividend of $0.40. Manulife Financial's dividend payout ratio (DPR) is currently 49.79%.

About Manulife Financial

Manulife provides life insurance and wealth management products and services to individuals and group customers in Canada, the United States, and Asia. Manulife is one of Canada's Big Three Life Insurance companies (the other two are Sun Life and Great West Life). As of Dec. 31, 2021, Manulife reported assets under management or administration of about CAD $1.4 trillion.