Equities Analysts Offer Predictions for MFC FY2024 Earnings

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) – Equities researchers at National Bank Financial reduced their FY2024 EPS estimates for shares of Manulife Financial in a research report issued on Tuesday, January 14th. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will earn $2.64 per share for the year, down from their prior 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 Trading Down 0.8 %

MFC opened at $30.58 on Friday. The company has a 50 day moving average of $31.32 and a 200 day moving average of $29.09. Manulife Financial has a 12 month low of $20.78 and a 12 month high of $33.07. The company has a market cap of $52.86 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 1.01 and a beta of 1.09.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The firm had revenue of $10.69 billion for the quarter, compared to analyst estimates of $9.73 billion. During the same period in the previous year, the company posted $0.69 earnings per share.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th were given a $0.296 dividend. This represents a $1.18 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend was Wednesday, November 20th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s payout ratio is currently 59.42%.

Hedge Funds Weigh In On Manulife Financial

Hedge funds have recently added to or reduced their stakes in the company. Atomi Financial Group Inc. raised its stake in Manulife Financial by 16.5% during the 4th quarter. Atomi Financial Group Inc. now owns 23,558 shares of the financial services provider’s stock valued at $723,000 after buying an additional 3,333 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in Manulife Financial by 1.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 93,752 shares of the financial services provider’s stock worth $2,879,000 after acquiring an additional 1,200 shares during the period. HB Wealth Management LLC boosted its stake in shares of Manulife Financial by 140.9% during the 4th quarter. HB Wealth Management LLC now owns 27,620 shares of the financial services provider’s stock worth $848,000 after acquiring an additional 16,153 shares during the last quarter. Brooklyn Investment Group grew its position in shares of Manulife Financial by 78.1% during the 4th quarter. Brooklyn Investment Group now owns 1,537 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 674 shares during the period. Finally, Merit Financial Group LLC purchased a new stake in shares of Manulife Financial in the 4th quarter worth $212,000. 52.56% of the stock is currently 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.