National Bank Financial Comments on MFC FY2024 Earnings

Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC - Equities researchers at National Bank Financial decreased their FY2024 earnings per share (EPS) estimates for shares of Manulife Financial in a note issued to investors on Tuesday, January 14th. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will earn $2.64 per share for the year, down from their previous estimate of $2.74. The consensus estimate for Manulife Financial's current full-year earnings is $2.71 per share. National Bank Financial also issued estimates for Manulife Financial's Q4 2024 earnings at $0.67 EPS and FY2025 earnings at $2.93 EPS.

Manulife Financial Trading Down 0.8 %

Shares of Manulife Financial stock traded down $0.26 during mid-day trading on Friday, reaching $30.58. 1,430,420 shares of the stock were exchanged, compared to its average volume of 1,539,420. Manulife Financial has a fifty-two week low of $20.78 and a fifty-two week high of $33.07. The company has a market cap of $52.86 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 1.01 and a beta of 1.09. The firm has a 50-day simple moving average of $31.34 and a 200 day simple moving average of $29.06.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MFC. Brooklyn Investment Group bought a new position in Manulife Financial in the 3rd quarter valued at $26,000. West Financial Advisors LLC bought a new position in shares of Manulife Financial in the third quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new position in Manulife Financial during the 3rd quarter worth about $30,000. Fortitude Family Office LLC acquired a new position in Manulife Financial during the 3rd quarter worth about $31,000. Finally, Tsfg LLC grew its holdings in Manulife Financial by 103.8% during the 3rd quarter. Tsfg LLC now owns 1,404 shares of the financial services provider's stock worth $42,000 after acquiring an additional 715 shares during the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th were issued a dividend of $0.296 per share. This is a positive change from Manulife Financial's previous quarterly dividend of $0.29. The ex-dividend date was Wednesday, November 20th. This represents a $1.18 annualized dividend and a dividend yield of 3.87%. Manulife Financial's dividend payout ratio (DPR) is presently 59.42%.

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.