National Bank Financial Weighs in on Manulife Financial Co.'s Q2 2024 Earnings (NYSE:MFC)

Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC - Research analysts at National Bank Financial lowered their Q2 2024 EPS estimates for Manulife Financial in a report released on Thursday, April 25th. National Bank Financial analyst G. Dechaine now expects that the financial services provider will earn $0.63 per share for the quarter, down from their prior forecast of $0.64. The consensus estimate for Manulife Financial's current full-year earnings is $2.70 per share. National Bank Financial also issued estimates for Manulife Financial's Q3 2024 earnings at $0.66 EPS and FY2025 earnings at $2.90 EPS.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group initiated coverage on shares of Manulife Financial in a research report on Thursday, February 22nd. They set a "buy" rating on the stock. Desjardins raised Manulife Financial from a "hold" rating to a "buy" rating in a research report on Thursday, February 15th. Finally, BMO Capital Markets raised Manulife Financial from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $31.00 to $35.00 in a research report on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $33.33.

Manulife Financial Price Performance

Shares of NYSE:MFC traded up $0.14 on Monday, hitting $23.61. 1,723,463 shares of the company's stock were exchanged, compared to its average volume of 3,175,984. Manulife Financial has a 12 month low of $17.07 and a 12 month high of $25.14. The business's 50 day simple moving average is $24.00 and its two-hundred day simple moving average is $21.66. The stock has a market capitalization of $42.52 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 0.87 and a beta of 1.08.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.05. The business had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $7.57 billion. Manulife Financial had a net margin of 10.42% and a return on equity of 15.98%.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, February 28th were issued a $0.298 dividend. This is an increase from Manulife Financial's previous quarterly dividend of $0.26. This represents a $1.19 annualized dividend and a dividend yield of 5.05%. The ex-dividend date was Tuesday, February 27th. Manulife Financial's dividend payout ratio is 61.66%.

Institutional Investors Weigh In On Manulife Financial

Hedge funds have recently added to or reduced their stakes in the business. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Manulife Financial during the 3rd quarter worth approximately $27,000. Anchor Investment Management LLC purchased a new stake in Manulife Financial during the fourth quarter worth $27,000. Fortis Group Advisors LLC grew its position in Manulife Financial by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 1,210 shares of the financial services provider's stock valued at $27,000 after buying an additional 605 shares during the period. Trust Co. of Vermont increased its holdings in Manulife Financial by 478.5% in the third quarter. Trust Co. of Vermont now owns 1,533 shares of the financial services provider's stock valued at $28,000 after buying an additional 1,268 shares in the last quarter. Finally, Arlington Trust Co LLC acquired a new position in shares of Manulife Financial in the third quarter worth about $29,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

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.