why Manulife Financial Corp. [MFC] is a Good Choice for Investors After New Price Target of $22.51

Manulife Financial Corp. [NYSE: MFC] gained 1.39% on the last trading session, reaching $21.92 price per share at the time. The company report on January 24, 2024 at 7:30 AM that Manulife Investment Management Announces Cash Distributions for Manulife Exchange Traded Funds.

C$ unless otherwise stated                                            TSX/NYSE/PSE: MFC     SEHK: 945.

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Manulife Investment Management today announced the January 2024 cash distributions for Manulife exchange traded funds (ETFs) that distribute monthly. Unitholders of record of the Manulife ETFs at the close of business on January 31, 2024, will receive cash distributions payable on February 14, 2024.

If compared to the average trading volume of 3.25M shares, MFC reached a trading volume of 8200904 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Manulife Financial Corp. [MFC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MFC shares is $22.51 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 2.29. 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.

RBC Capital Mkts have made an estimate for Manulife Financial Corp. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 12, 2023.

The Average True Range (ATR) for Manulife Financial Corp. is set at 0.31, with the Price to Sales ratio for MFC stock in the period of the last 12 months amounting to 1.26. The Price to Book ratio for the last quarter was 1.32. Price to Free Cash Flow for MFC in the course of the last twelve months was 2.84.

Trading performance analysis for MFC stock

Manulife Financial Corp. [MFC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.38. With this latest performance, MFC shares gained by 0.09% in over the last four-week period, additionally plugging by 10.26% over the last 6 months – not to mention a rise of 13.93% 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 64.85, with the RSI for the last a single of trading hit 67.73, and the three-weeks RSI is set at 64.21 for Manulife Financial Corp. [MFC]. The present Moving Average for the last 50 days of trading for this stock 20.70, while it was recorded at 21.53 for the last single week of trading, and 19.29 for the last 200 days.

Manulife Financial Corp. [MFC]: A deeper dive into fundamental analysis

Manulife Financial Corp.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.07.

Manulife Financial Corp. [MFC]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Manulife Financial Corp. posted 0.66/share EPS, while the average EPS was predicted by analysts to be reported at 0.61/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.20%. 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 Corp. go to 2.84%.

An analysis of Institutional ownership at Manulife Financial Corp. [MFC]

The top three institutional holders of MFC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MFC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MFC stock with ownership which is approximately 5.8325%.