MFC FY2024 EPS Forecast Lifted by National Bank Financial

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) – National Bank Financial boosted their FY2024 EPS estimates for shares of Manulife Financial in a research report issued to clients and investors on Wednesday, November 6th. National Bank Financial analyst G. Dechaine now anticipates 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.

A number of other equities analysts have also recently issued reports on MFC. Barclays assumed coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating on the stock. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Manulife Financial presently has a consensus rating of “Buy” and an average target price of $35.67.

Manulife Financial Stock Up 3.2 %

Shares of NYSE:MFC opened at $32.29 on Friday. The stock has a market cap of $56.80 billion, a PE ratio of 18.66, a PEG ratio of 1.08 and a beta of 1.08. The company’s fifty day moving average is $29.21 and its 200 day moving average is $26.96. Manulife Financial has a 52 week low of $18.05 and a 52 week high of $32.94.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.27. The firm had revenue of $9.41 billion for the quarter, compared to analysts’ expectations of $8.95 billion. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. During the same quarter last year, the company posted $0.62 EPS.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Norden Group LLC bought a new position in shares of Manulife Financial in the first quarter worth approximately $620,000. Private Advisor Group LLC increased its stake in Manulife Financial by 295.4% in the 1st quarter. Private Advisor Group LLC now owns 60,860 shares of the financial services provider’s stock worth $1,521,000 after buying an additional 45,469 shares during the period. BNP Paribas Financial Markets increased its stake in Manulife Financial by 7,887.4% in the 1st quarter. BNP Paribas Financial Markets now owns 34,346 shares of the financial services provider’s stock worth $858,000 after buying an additional 33,916 shares during the period. Janney Montgomery Scott LLC increased its position in Manulife Financial by 38.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 123,344 shares of the financial services provider’s stock valued at $3,082,000 after purchasing an additional 34,545 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its position in Manulife Financial by 4.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 14,538 shares of the financial services provider’s stock valued at $363,000 after purchasing an additional 576 shares during the period. 52.56% of the stock is owned by hedge funds and other institutional investors.

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.