Analysts Set Expectations for MFC FY2024 Earnings

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) – Stock analysts at National Bank Financial reduced their FY2024 EPS estimates for Manulife Financial in a research note issued on Tuesday, January 14th. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will post earnings per share of $2.64 for the year, down from their previous forecast 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 (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.70 by $0.30. The business had revenue of $10.69 billion for the quarter, compared to analysts’ expectations of $9.73 billion. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. During the same quarter in the previous year, the company earned $0.69 EPS.

Manulife Financial Trading Up 0.4 %

Shares of Manulife Financial stock opened at $30.81 on Friday. The firm has a market cap of $53.26 billion, a PE ratio of 14.88, a PEG ratio of 1.01 and a beta of 1.09. The stock has a 50 day moving average of $31.37 and a 200 day moving average of $29.05. Manulife Financial has a 12 month low of $20.78 and a 12 month high of $33.07.

Institutional Investors Weigh In On Manulife Financial

A number of hedge funds have recently bought and sold shares of MFC. National Bank of Canada FI increased its holdings in shares of Manulife Financial by 13.5% in the 3rd quarter. National Bank of Canada FI now owns 28,063,936 shares of the financial services provider’s stock worth $829,374,000 after buying an additional 3,329,892 shares during the last quarter. Toronto Dominion Bank increased its stake in Manulife Financial by 3.2% during the second quarter. Toronto Dominion Bank now owns 24,057,503 shares of the financial services provider’s stock worth $640,411,000 after acquiring an additional 750,422 shares during the last quarter. 1832 Asset Management L.P. raised its position in Manulife Financial by 34.3% during the second quarter. 1832 Asset Management L.P. now owns 19,723,609 shares of the financial services provider’s stock valued at $525,042,000 after purchasing an additional 5,036,716 shares during the period. Legal & General Group Plc lifted its stake in shares of Manulife Financial by 0.5% in the 2nd quarter. Legal & General Group Plc now owns 14,783,400 shares of the financial services provider’s stock valued at $393,592,000 after purchasing an additional 75,244 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Manulife Financial by 8.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,273,260 shares of the financial services provider’s stock worth $247,473,000 after purchasing an additional 616,517 shares during the period. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, November 20th were given a $0.296 dividend. This represents a $1.18 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend was Wednesday, November 20th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s payout ratio is currently 59.42%.

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.