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Manulife Financial Corporation (NYSE:MFC) Shares Are Down -3.63 Percent In A Week – But Can The Gains Continue?

In recent trading session, Manulife Financial Corporation (NYSE:MFC) saw 1.07 million shares changing hands at last check today with its beta currently measuring 1.15. Company’s recent per share price level of $16.50 trading at -$0.24 or -1.43% at last check today assigns it a market valuation of $32.16B. That most recent trading price of MFC’s stock is at a discount of -34.48% from its 52-week high price of $22.19 and is indicating a premium of 1.39% from its 52-week low price of $16.27. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 2.66 million shares which gives us an average trading volume of 3.15 million if we extend that period to 3-months.

For Manulife Financial Corporation (MFC), analysts’ consensus is at an average recommendation of a Hold while assigning it a mean rating of 2.50. Splitting up the data highlights that, out of 16 analysts covering the stock, 1 rated the stock as a Sell while 4 recommended an Overweight rating for the stock. 8 suggested the stock as a Hold whereas 3 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.6 in the current quarter.

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Manulife Financial Corporation (NYSE:MFC) trade information

Upright in the red during last session for losing -1.43%, in the last five days MFC remained trading in the red while hitting it’s week-highest on Monday, 09/19/22 when the stock touched $16.50 price level, adding 5.44% to its value on the day. Manulife Financial Corporation’s shares saw a change of -12.22% in year-to-date performance and have moved -3.63% in past 5-day. Manulife Financial Corporation (NYSE:MFC) showed a performance of -5.64% in past 30-days. Number of shares sold short was 21.11 million shares which calculate 4.6 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $21.05 to the stock, which implies a rise of 21.62% to its recent value today. Analysts have been projecting $18.05 as a low price target for the stock while placing it at a high target of $24.32. It follows that stock’s current price would drop -47.39% in reaching the projected high whereas dropping to the targeted low would mean a loss of -9.39% for stock’s current value.

Manulife Financial Corporation (MFC) estimates and forecasts

Statistics highlight that Manulife Financial Corporation is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -20.10% of value to its shares in past 6 months, showing an annual growth rate of -3.09% while that of industry is -14.10. Apart from that, the company came lowering its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to decrease by -9.10% in the current quarter and calculating 8.30% increase in the next quarter. This year revenue growth is estimated to rise 11.00% from the last financial year’s standing.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 20.10% during past 5 years. In 2022, company’s earnings growth rate is likely to be around 20.70% while estimates for its earnings growth in next 5 years are of 8.60%.

MFC Dividends

Manulife Financial Corporation is more likely to be releasing its next quarterly report between February 08 and February 14 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Manulife Financial Corporation (NYSE:MFC)’s Major holders

Insiders are in possession of 0.02% of company’s total shares while institution are holding 54.67 percent of that, with stock having share float percentage of 54.68%. Investors also watch the number of corporate investors in a company very closely, which is 54.67% institutions for Manulife Financial Corporation that are currently holding shares of the company. Royal Bank of Canada is the top institutional holder at MFC for having 161.56 million shares of worth $3.45 billion. And as of Mar 30, 2022, it was holding 8.45% of the company’s outstanding shares.

The second largest institutional holder is Bank of Montreal/Can/, which was holding about 84.4 million shares on Mar 30, 2022. The number of shares represents firm’s hold over 4.42% of outstanding shares, having a total worth of $1.8 billion.

On the other hand, Vanguard International Stock Index-Total Intl Stock Indx and Income Fund of America Inc are the top two Mutual Funds which own company’s shares. As of Apr 29, 2022, the former fund manager was holding 25.16 million shares of worth $492.21 million or 1.32% of the total outstanding shares. The later fund manager was in possession of 17.66 million shares on Jun 29, 2022, making its stake of worth around $306.07 million in the company or a holder of 0.92% of company’s stock.

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