Manulife Financial (MFC) – Research Analysts’ Weekly Ratings Changes

A number of research firms have changed their ratings and price targets for Manulife Financial (NYSE: MFC):

  • 5/25/2022 – Manulife Financial was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. They now have a $15.00 price target on the stock. According to Zacks, “Margin contraction and unfavorable interest coverage ratio concerns Manulife. The global equity market remains volatile and weak, which put pressure on capital position forcing the company to raise its reserves for guaranteeing future liabilities. Shares have outperformed the industry in year to date. Its Asia business continues to be the major contributor to earnings. New business volumes and positive net flows in its wealth and asset management businesses are other catalysts. Manulife's inorganic growth also impresses. Manulife focuses to expedite growth in highest potential businesses and targets two-third of core earnings from these businesses. It completed 2022 portfolio optimization target of $5 billion of capital, aims expense efficiency ratio of less than 50% by 2022 and core EPS growth between 10-12% over the medium term.”
  • 5/17/2022 – Manulife Financial was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 5/13/2022 – Manulife Financial was downgraded by analysts at Canaccord Genuity Group Inc. from a “buy” rating to a “hold” rating.
  • 5/13/2022 – Manulife Financial was downgraded by analysts at Canaccord Genuity Group Inc. from a “buy” rating to a “hold” rating.
  • 5/13/2022 – Manulife Financial was downgraded by analysts at Desjardins from a “buy” rating to a “hold” rating.
  • 5/13/2022 – Manulife Financial had its price target lowered by analysts at Royal Bank of Canada from C$29.00 to C$26.00.
  • 5/13/2022 – Manulife Financial had its price target lowered by analysts at Scotiabank from C$28.00 to C$27.00.
  • 5/12/2022 – Manulife Financial was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating.
  • 5/12/2022 – Manulife Financial had its price target lowered by analysts at National Bank Financial from C$28.00 to C$26.00.
  • 5/12/2022 – Manulife Financial had its price target lowered by analysts at TD Securities from C$37.00 to C$34.00.
  • 5/9/2022 – Manulife Financial was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 5/2/2022 – Manulife Financial had its price target lowered by analysts at Scotiabank from C$30.00 to C$28.00.
  • 4/14/2022 – Manulife Financial was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 3/31/2022 – Manulife Financial is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.

Shares of MFC stock opened at $18.09 on Friday. Manulife Financial Co. has a 12 month low of $16.63 and a 12 month high of $22.19. The stock has a market cap of $34.81 billion, a P/E ratio of 4.86, a P/E/G ratio of 0.68 and a beta of 1.22. The company has a 50 day simple moving average of $19.95 and a two-hundred day simple moving average of $19.86.

Manulife Financial (NYSE:MFCGet Rating) (TSE:MFC) last announced its earnings results on Wednesday, May 11th. The financial services provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.05). The business had revenue of $11.77 billion for the quarter, compared to analyst estimates of $14.82 billion. On average, sell-side analysts predict that Manulife Financial Co. will post 2.61 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 20th. Shareholders of record on Wednesday, May 25th will be given a $0.257 dividend. The ex-dividend date is Tuesday, May 24th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 5.68%. Manulife Financial’s payout ratio is currently 27.69%.

Several institutional investors and hedge funds have recently bought and sold shares of MFC. Vanguard Group Inc. boosted its position in shares of Manulife Financial by 3.2% during the first quarter. Vanguard Group Inc. now owns 65,706,458 shares of the financial services provider’s stock worth $1,402,832,000 after acquiring an additional 2,032,695 shares during the last quarter. Beutel Goodman & Co Ltd. lifted its position in Manulife Financial by 12.5% during the first quarter. Beutel Goodman & Co Ltd. now owns 25,986,356 shares of the financial services provider’s stock valued at $554,414,000 after purchasing an additional 2,891,888 shares during the last quarter. Norges Bank bought a new position in Manulife Financial during the fourth quarter valued at $362,442,000. CIBC Asset Management Inc lifted its position in Manulife Financial by 5.7% during the first quarter. CIBC Asset Management Inc now owns 17,265,085 shares of the financial services provider’s stock valued at $368,598,000 after purchasing an additional 934,381 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its position in Manulife Financial by 3.1% during the first quarter. 1832 Asset Management L.P. now owns 15,972,867 shares of the financial services provider’s stock valued at $336,417,000 after purchasing an additional 479,636 shares during the last quarter. Institutional investors and hedge funds own 47.04% of the company’s stock.

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 Corporate and Other segments. The Wealth and Asset Management Businesses segment provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks.

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