Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC - Investment analysts at National Bank Financial lifted their FY2024 EPS estimates for shares of Manulife Financial in a report released on Wednesday, November 6th. National Bank Financial analyst G. Dechaine now forecasts that the financial services provider will post earnings per share of $2.74 for the year, up from their previous estimate of $2.67. The consensus estimate for Manulife Financial's current full-year earnings is $2.74 per share. National Bank Financial also issued estimates for Manulife Financial's Q4 2024 earnings at $0.69 EPS and FY2025 earnings at $3.10 EPS.
Other equities research analysts have also recently issued research reports about the stock. Dbs Bank upgraded shares of Manulife Financial to a "strong-buy" rating in a research report on Thursday, August 8th. Barclays began coverage on shares of Manulife Financial in a research note on Thursday, September 5th. They set an "equal weight" rating on the stock. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Manulife Financial has a consensus rating of "Buy" and an average target price of $35.67.
Get Our Latest Stock Report on Manulife Financial
Manulife Financial Trading Down 1.5 %
Shares of NYSE:MFC traded down $0.49 during trading on Friday, hitting $31.80. 1,458,018 shares of the company's stock were exchanged, compared to its average volume of 2,536,172. Manulife Financial has a 1-year low of $18.42 and a 1-year high of $32.94. The firm has a 50-day moving average price of $29.39 and a two-hundred day moving average price of $27.06. The firm has a market cap of $55.93 billion, a P/E ratio of 18.38, a PEG ratio of 1.08 and a beta of 1.08.
Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.64 by $0.27. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. The company had revenue of $9.41 billion during the quarter, compared to analysts' expectations of $8.95 billion. During the same quarter in the previous year, the company earned $0.62 EPS.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. Norden Group LLC bought a new stake in shares of Manulife Financial in the first quarter worth $620,000. Private Advisor Group LLC lifted its position in shares of Manulife Financial by 295.4% in the first quarter. Private Advisor Group LLC now owns 60,860 shares of the financial services provider's stock worth $1,521,000 after purchasing an additional 45,469 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Manulife Financial by 7,887.4% in the first quarter. BNP Paribas Financial Markets now owns 34,346 shares of the financial services provider's stock worth $858,000 after purchasing an additional 33,916 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Manulife Financial by 38.9% in the first quarter. Janney Montgomery Scott LLC now owns 123,344 shares of the financial services provider's stock worth $3,082,000 after purchasing an additional 34,545 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in Manulife Financial by 4.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 14,538 shares of the financial services provider's stock worth $363,000 after buying an additional 576 shares during the last quarter. Institutional investors own 52.56% of the company's stock.
Manulife Financial Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be paid a $0.296 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.18 dividend on an annualized basis and a yield of 3.72%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.29. Manulife Financial's payout ratio is presently 67.05%.
About Manulife Financial
(
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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.
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