Manulife Financial Corporation (NYSE:MFC) has a beta value of 1.13 and has seen 0.64 million shares traded in the recent trading session. The company, currently valued at $33.21B, closed the recent trade at $17.80 per share which meant it gained $0.12 on the day or 0.68% during that session. The MFC stock price is -24.66% off its 52-week high price of $22.19 and 16.18% above the 52-week low of $14.92. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.13 million shares traded. The 3-month trading volume is 3.58 million shares.
The consensus among analysts is that Manulife Financial Corporation (MFC) is a Hold stock at the moment, with a recommendation rating of 2.50. 2 analysts rate the stock as a Sell, while 3 rate it as Overweight. 7 out of 15 have rated it as a Hold, with 3 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $0.53.
Manulife Financial Corporation (NYSE:MFC) trade information
Sporting 0.68% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 11/22/22 when the MFC stock price touched $17.80 or saw a rise of 0.06%. Year-to-date, Manulife Financial Corporation shares have moved -7.29%, while the 5-day performance has seen it change 0.11%. Over the past 30 days, the shares of Manulife Financial Corporation (NYSE:MFC) have changed 9.81%. Short interest in the company has seen 20.74 million shares shorted with days to cover at 5.16.
Wall Street analysts have a consensus price target for the stock at $19.52, which means that the shares’ value could jump 8.81% from the levels at last check today. The projected low price target is $17.24 while the price target rests at a high of $23.20. In that case, then, we find that the latest price level in today’s session is -30.34% off the targeted high while a plunge would see the stock lose 3.15% from the levels at last check today.
Manulife Financial Corporation (MFC) estimates and forecasts
Figures show that Manulife Financial Corporation shares have underperformed across the wider relevant industry. The company’s shares have gained 0.74% over the past 6 months, with this year growth rate of -12.36%, compared to -10.50% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are -11.70% and -9.10% for the next quarter. Revenue growth from the last financial year stood is estimated to be 10.60%.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 20.10% over the past 5 years. Earnings growth for 2022 is a modest 20.70% while over the next 5 years, the company’s earnings are expected to increase by 7.40%.
Manulife Financial Corporation is expected to release its next earnings report between February 07 and February 13 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.98 at a share yield of 5.52%. The company’s dividend yield has gone up over the past 12 months.
Manulife Financial Corporation (NYSE:MFC)’s Major holders
Insiders own 0.01% of the company shares, while shares held by institutions stand at 53.36% with a share float percentage of 53.37%. Investors are also buoyed by the number of investors in a company, with Manulife Financial Corporation having a total of 793 institutions that hold shares in the company. The top two institutional holders are Royal Bank of Canada with over 166.52 million shares worth more than $2.89 billion. As of Jun 29, 2022, Royal Bank of Canada held 8.77% of shares outstanding.
The other major institutional holder is Bank of Montreal/Can/, with the holding of over 81.32 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $1.41 billion and represent 4.28% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard International Stock Index-Total Intl Stock Indx and Income Fund of America Inc. As of Jul 30, 2022, the former fund manager holds about 1.34% shares in the company for having 25.48 million shares of worth $466.72 million while later fund manager owns 14.75 million shares of worth $231.06 million as of Sep 29, 2022, which makes it owner of about 0.78% of company’s outstanding stock.