why Manulife Financial Corporation [MFC] is a Good Choice for Investors After New Price Target of $19.20

Manulife Financial Corporation [NYSE: MFC] jumped around 0.75 points on Tuesday, while shares priced at $16.88 at the close of the session, up 4.65%. The company report on October 3, 2022 that Venerable and Manulife Expand Partnership with New York Reinsurance Transaction.

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Venerable Holdings, Inc. (“Venerable”), the leader in providing innovative risk transfer solutions to variable annuity issuers, is pleased to announce the completion of a reinsurance transaction with Manulife Financial Corporation (NYSE: MFC) (“Manulife”). The transaction involves the reinsurance of a block of New York variable annuity business from Manulife’s subsidiary John Hancock Life Insurance Company of New York (“John Hancock”) and complements the reinsurance transaction that closed between the two parties earlier this year.

“We are very pleased to partner with Manulife on this latest transaction and highly value the relationship between the two organizations,” said David Marcinek, Chairman of Venerable. “Being able to bring this deal to completion during this period of uncertain markets is a testament to the strength and skill of both parties.”.

Manulife Financial Corporation stock is now -11.48% down from its year-to-date (YTD) trading value. MFC Stock saw the intraday high of $16.90 and lowest of $16.39 per share. The company’s 52-week high price is 22.19, which means current price is +9.04% above from all time high which was touched on 02/10/22.

Compared to the average trading volume of 3.06M shares, MFC reached a trading volume of 5275065 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Manulife Financial Corporation [MFC]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MFC shares is $19.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MFC stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Scotiabank have made an estimate for Manulife Financial Corporation shares, keeping their opinion on the stock as Sector Outperform, with their previous recommendation back on July 27, 2022. The new note on the price target was released on May 13, 2022, representing the official price target for Manulife Financial Corporation stock.

The Average True Range (ATR) for Manulife Financial Corporation is set at 0.49, with the Price to Sales ratio for MFC stock in the period of the last 12 months amounting to 1.49. The Price to Book ratio for the last quarter was 0.93, with the Price to Cash per share for the same quarter was set at 8.01. Price to Free Cash Flow for MFC in the course of the last twelve months was 2.43.

How has MFC stock performed recently?

Manulife Financial Corporation [MFC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.93. With this latest performance, MFC shares dropped by -1.75% in over the last four-week period, additionally sinking by -21.20% over the last 6 months – not to mention a drop of -12.94% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MFC stock in for the last two-week period is set at 50.95, with the RSI for the last a single of trading hit 56.89, and the three-weeks RSI is set at 48.50 for Manulife Financial Corporation [MFC]. The present Moving Average for the last 50 days of trading for this stock 17.57, while it was recorded at 16.09 for the last single week of trading, and 18.92 for the last 200 days.

Manulife Financial Corporation [MFC]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Manulife Financial Corporation [MFC] shares currently have an operating margin of +14.48. Manulife Financial Corporation’s Net Margin is presently recorded at +12.01.

Return on Equity for this stock inclined to 12.83, with Return on Assets sitting at 0.83.

Earnings analysis for Manulife Financial Corporation [MFC]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MFC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Manulife Financial Corporation go to 8.60%.


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