Manulife Financial (New York Stock Exchange: MFC – Get a rating) (TSE:MFC) – Desjardins research analysts released their Q2 2022 EPS estimates for Manulife Financial shares in a research note released Thursday, May 12. Desjardins analyst D. Young expects the financial services provider to post earnings per share of $0.62 for the quarter. Desjardins currently has a “Hold” rating on the stock. Desjardins also released estimates for Manulife Financial’s Q3 2022 profit at $0.66 EPS, Q4 2022 profit at $0.66 EPS and full-year 2022 profit at $2.54 EPS.
MFC has been the subject of several other research reports. Zacks Investment Research restated a “hold” rating on Manulife Financial shares in a Thursday, March 17 report. StockNews.com upgraded Manulife Financial from a “hold” rating to a “buy” rating in a Monday, May 9 research report. Canaccord Genuity Group downgraded Manulife Financial from a buy rating to a hold rating in a research report on Friday. Scotiabank cut its target price on Manulife Financial from C$28.00 to C$27.00 in a research report on Friday. Finally, TD Securities cut its target price on Manulife Financial from C$37.00 to C$34.00 in a research report on Thursday. One equity research analyst has assigned the stock a sell rating, nine have issued a hold rating and four have assigned the stock a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $29.50.
NYSE MFC opened at $17.44 on Monday. The company has a market capitalization of $33.64 billion, a price/earnings ratio of 4.69, a P/E/G ratio of 0.62 and a beta of 1.22. Manulife Financial has a 52-week low of $16.63 and a 52-week high of $22.19. The company has a 50-day moving average price of $20.32 and a 200-day moving average price of $19.99.
Several hedge funds and other institutional investors have recently changed their holdings in the company. Renaissance Technologies LLC purchased a new position in Manulife Financial stock during Q1 for $52,082,000. Edgestream Partners LP bought a new position in Manulife Financial stock during Q1 worth $602,000. Mariner LLC increased its position in Manulife Financial shares by 94.8% during the first quarter. Mariner LLC now owns 25,527 shares of the financial services provider valued at $545,000 after buying an additional 12,422 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Manulife Financial stock during Q1 valued at $34,806,000. Finally, Estabrook Capital Management acquired a new equity stake in Manulife Financial during the 1st quarter at a value of $169,000. 47.04% of the shares are currently held by hedge funds and other institutional investors.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 20. Shareholders of record on Wednesday, May 25 will receive a dividend of $0.257. The ex-dividend date is Tuesday, May 24. This represents an annualized dividend of $1.03 and a yield of 5.89%. Manulife Financial’s dividend payout ratio is currently 27.96%.
About Manulife Financial (Get a rating)
Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States and internationally. The Company operates through wealth and asset management businesses; Insurance and annuity products; And the Corporate and Other segments. The Wealth and Asset Management Business segment provides mutual funds and exchange-traded funds, group retirement and savings products and institutional asset management services through agents and from company-affiliated broker-dealers, securities brokerage firms and financial advisers, pension plan consultants and banks.
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