Cormark Lifts Earnings Estimates for Manulife Financial

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) – Investment analysts at Cormark boosted their FY2025 EPS estimates for Manulife Financial in a research note issued to investors on Thursday, February 20th. Cormark analyst L. Persaud now anticipates that the financial services provider will earn $2.93 per share for the year, up from their prior estimate of $2.85. The consensus estimate for Manulife Financial’s current full-year earnings is $2.87 per share.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.07. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The firm had revenue of $9.31 billion during the quarter.

MFC has been the subject of several other research reports. Scotiabank restated an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. Royal Bank of Canada upped their price objective on shares of Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $45.50.

Manulife Financial Stock Down 4.6 %

MFC opened at $30.36 on Monday. Manulife Financial has a twelve month low of $22.61 and a twelve month high of $33.07. The company has a 50-day moving average price of $30.32 and a 200 day moving average price of $29.83. The company has a market cap of $52.32 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 1.11 and a beta of 1.09.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.3094 dividend. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.24 annualized dividend and a dividend yield of 4.08%. Manulife Financial’s dividend payout ratio is 59.42%.

Institutional Trading of Manulife Financial

Hedge funds have recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in shares of Manulife Financial in the 3rd quarter valued at approximately $26,000. Crews Bank & Trust purchased a new stake in shares of Manulife Financial in the 4th quarter valued at approximately $26,000. Capital Performance Advisors LLP purchased a new stake in shares of Manulife Financial in the 3rd quarter valued at approximately $30,000. Fortitude Family Office LLC purchased a new stake in shares of Manulife Financial in the 3rd quarter valued at approximately $31,000. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of Manulife Financial in the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

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.