Manulife Financial Co. to Post Q4 2024 Earnings of $0.68 Per Share, National Bank Financial Forecasts (NYSE:MFC)

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) – Analysts at National Bank Financial upped their Q4 2024 earnings per share (EPS) estimates for shares of Manulife Financial in a note issued to investors on Wednesday, May 8th. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will earn $0.68 per share for the quarter, up from their previous estimate of $0.67. National Bank Financial has a “Outperform” rating on the stock. The consensus estimate for Manulife Financial’s current full-year earnings is $2.70 per share. National Bank Financial also issued estimates for Manulife Financial’s FY2025 earnings at $2.96 EPS.

A number of other equities research analysts have also issued reports on the company. Jefferies Financial Group initiated coverage on Manulife Financial in a research report on Thursday, February 22nd. They issued a “buy” rating for the company. Desjardins upgraded Manulife Financial from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. Finally, BMO Capital Markets upgraded Manulife Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $31.00 to $35.00 in a report on Thursday, February 15th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Manulife Financial currently has an average rating of “Moderate Buy” and a consensus price target of $33.33.

Manulife Financial Trading Up 5.1 %

MFC stock opened at $25.73 on Friday. The firm has a 50-day moving average of $23.95 and a two-hundred day moving average of $21.96. Manulife Financial has a 12 month low of $17.07 and a 12 month high of $25.78. The company has a market cap of $46.20 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 0.89 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, February 14th. The financial services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. The business had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $7.57 billion. Manulife Financial had a net margin of 10.42% and a return on equity of 15.98%.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, February 28th were paid a dividend of $0.298 per share. This is a boost from Manulife Financial’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.19 annualized dividend and a yield of 4.63%. Manulife Financial’s dividend payout ratio (DPR) is 61.66%.

Institutional Trading of Manulife Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Manulife Financial during the fourth quarter valued at about $473,568,000. FIL Ltd boosted its position in shares of Manulife Financial by 750.5% during the 4th quarter. FIL Ltd now owns 9,910,281 shares of the financial services provider’s stock worth $218,990,000 after purchasing an additional 8,745,071 shares during the period. TD Asset Management Inc increased its holdings in Manulife Financial by 26.5% in the 4th quarter. TD Asset Management Inc now owns 37,066,418 shares of the financial services provider’s stock valued at $823,074,000 after purchasing an additional 7,766,870 shares during the last quarter. CIBC Asset Management Inc raised its position in Manulife Financial by 47.4% in the fourth quarter. CIBC Asset Management Inc now owns 20,710,186 shares of the financial services provider’s stock valued at $459,108,000 after purchasing an additional 6,663,997 shares during the period. Finally, Public Sector Pension Investment Board lifted its stake in Manulife Financial by 694.2% during the third quarter. Public Sector Pension Investment Board now owns 3,984,024 shares of the financial services provider’s stock worth $73,139,000 after purchasing an additional 3,482,367 shares in the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Company 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.