Brokers

Brokers Set Expectations for Manulife Financial Co.’s FY2023 Earnings (NYSE:MFC)


Manulife Financial Co. (NYSE:MFCGet Rating) (TSE:MFC) – Equities research analysts at National Bank Financial lifted their FY2023 earnings per share estimates for Manulife Financial in a research note issued to investors on Wednesday, May 11th. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will earn $2.55 per share for the year, up from their prior forecast of $2.54.

Several other analysts also recently weighed in on MFC. Zacks Investment Research reiterated a “hold” rating on shares of Manulife Financial in a research report on Thursday, March 17th. Scotiabank cut their target price on Manulife Financial from C$28.00 to C$27.00 in a research note on Friday. Canaccord Genuity Group lowered Manulife Financial from a “buy” rating to a “hold” rating in a research note on Friday. Desjardins lowered Manulife Financial from a “buy” rating to a “hold” rating in a research note on Friday. Finally, BMO Capital Markets downgraded Manulife Financial from an “outperform” rating to a “market perform” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $29.50.

Shares of MFC opened at $17.44 on Monday. The company has a market cap of $33.64 billion, a PE ratio of 4.69, a P/E/G ratio of 0.62 and a beta of 1.22. The business has a fifty day moving average of $20.32 and a 200 day moving average of $19.99. Manulife Financial has a 52-week low of $16.63 and a 52-week high of $22.19.

Large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its position in shares of Manulife Financial by 9.1% in the 4th quarter. Russell Investments Group Ltd. now owns 2,254,585 shares of the financial services provider’s stock worth $43,032,000 after purchasing an additional 187,234 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Manulife Financial by 0.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 12,213,095 shares of the financial services provider’s stock worth $232,904,000 after acquiring an additional 49,144 shares during the period. Brinker Capital Investments LLC lifted its stake in shares of Manulife Financial by 12.3% in the 4th quarter. Brinker Capital Investments LLC now owns 11,825 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 1,299 shares during the period. Lincluden Management Ltd. acquired a new stake in Manulife Financial during the fourth quarter valued at approximately $33,952,000. Finally, Assenagon Asset Management S.A. lifted its stake in Manulife Financial by 477.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 232,712 shares of the financial services provider’s stock valued at $4,438,000 after purchasing an additional 192,384 shares during the last quarter. Institutional investors and hedge funds own 47.04% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 20th. Stockholders of record on Wednesday, May 25th will be paid a dividend of $0.257 per share. The ex-dividend date of this dividend is Tuesday, May 24th. This represents a $1.03 annualized dividend and a dividend yield of 5.89%. Manulife Financial’s dividend payout ratio is presently 27.96%.

About Manulife Financial (Get Rating)

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, 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 provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks.

See Also

Earnings History and Estimates for Manulife Financial (NYSE:MFC)



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