Manulife Financial Corp. (MFC) Is Now En Route to Higher Prices

Manulife Financial Corp. (NYSE: MFC) is 2.35% higher on its value in year-to-date trading and has touched a low of $17.07 and a high of $22.65 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The MFC stock was last observed hovering at around $22.61 in the last trading session, with the day’s gains setting it 0.01%.

Currently trading at $22.62, the stock is 3.80% and 5.85% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.79 million and changing 0.04% at the moment leaves the stock 16.31% off its SMA200. MFC registered 16.42% gain for a year compared to 6-month gain of 16.24%. The firm has a 50-day simple moving average (SMA 50) of $1.35.

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The stock witnessed a 5.31% loss in the last 1 month and extending the period to 3 months gives it a 21.68%, and is 3.48% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.75% over the week and 1.48% over the month.

Manulife Financial Corp. (MFC) has around Nov 21 2023 employees, a market worth around $40.86B and $31.35B in sales. Current P/E ratio is 11.28 and Fwd P/E is 8.52. Profit margin for the company is 11.89%. Distance from 52-week low is 32.51% and -0.11% from its 52-week high. The company has generated returns on investments over the last 12 months (8.35%).

Manulife Financial Corp. quarterly earnings per share for the current quarter are estimated at $0.63 with sales reaching $4.62B over the same period.The EPS is expected to grow by 7.39% this year, but quarterly earnings will post 330.90% year-over-year. Quarterly sales are estimated to shrink -58.40% in year-over-year returns.

Manulife Financial Corp. (MFC) Top Institutional Holders

904 institutions hold shares in Manulife Financial Corp. (MFC), with institutional investors hold 54.44% of the company’s shares. The shares outstanding are 1.86B, and float is at 1.80B with Short Float at 0.51%. Institutions hold 54.43% of the Float.

The top institutional shareholder in the company is Royal Bank of Canada with over 161.07 million shares valued at $3.05 billion. The investor’s holdings represent 8.86% of the MFC Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 70.44 million shares valued at $1.33 billion to account for 3.88% of the shares outstanding. The other top investors are Bank of Montreal/Can/ which holds 66.71 million shares representing 3.67% and valued at over $1.26 billion, while Mackenzie Financial Corporation holds 1.75% of the shares totaling 31.72 million with a market value of $599.86 million.

Manulife Financial Corp. (MFC): Who are the competitors?

The company’s main competitors (and peers) include Aegon Ltd. ADR (AEG) that is trading 3.94% up over the past 12 months. Fairfax Financial Holdings Ltd. (FRFHF) that is 50.99% higher over the same period.