Cormark Forecasts Stronger Earnings for Manulife Financial

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) – Investment analysts at Cormark increased their FY2025 earnings estimates for shares of Manulife Financial in a note issued to investors on Thursday, November 7th. Cormark analyst L. Persaud now forecasts that the financial services provider will post earnings per share of $2.92 for the year, up from their previous estimate of $2.87. The consensus estimate for Manulife Financial’s current full-year earnings is $2.75 per share.

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

MFC has been the topic of several other reports. Barclays started coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They set 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 given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $37.50.

Manulife Financial Price Performance

Manulife Financial stock opened at $31.79 on Monday. The stock’s 50 day moving average price is $29.39 and its 200 day moving average price is $27.08. Manulife Financial has a 1-year low of $18.42 and a 1-year high of $32.94. The company has a market cap of $55.92 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 1.15 and a beta of 1.08.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be issued a $0.296 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.72%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, November 20th. Manulife Financial’s payout ratio is 56.04%.

Institutional Investors Weigh In On Manulife Financial

A number of institutional investors have recently modified their holdings of MFC. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Manulife Financial by 1,210.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,161,059 shares of the financial services provider’s stock valued at $30,922,000 after purchasing an additional 1,072,474 shares during the last quarter. Bessemer Group Inc. boosted its stake in Manulife Financial by 2,913.7% in the 1st quarter. Bessemer Group Inc. now owns 86,615 shares of the financial services provider’s stock worth $2,163,000 after purchasing an additional 83,741 shares during the period. Legal & General Group Plc grew its holdings in shares of Manulife Financial by 0.5% during the second quarter. Legal & General Group Plc now owns 14,783,400 shares of the financial services provider’s stock valued at $393,592,000 after buying an additional 75,244 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Manulife Financial by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 72,289,251 shares of the financial services provider’s stock valued at $1,806,508,000 after purchasing an additional 727,764 shares during the period. Finally, Intech Investment Management LLC acquired a new position in Manulife Financial in the 1st quarter valued at approximately $1,705,000. Institutional investors own 52.56% of the company’s stock.

About Manulife Financial

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.