Manulife Financial Corp. [NYSE: MFC] price plunged by -1.04 percent to reach at -$0.23. The company report on February 1, 2024 at 5:48 PM that John Hancock Investment Management Files Initial Registration Statement for New High Yield ETF Subadvised by Marathon Asset Management.
US$ unless otherwise stated TSX/NYSE/PSE: MFC SEHK: 945.
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John Hancock Investment Management, a company of Manulife Investment Management, today filed an initial registration statement with the Securities and Exchange Commission for a new actively managed John Hancock High Yield ETF (ticker: JHHY) anticipated to launch this year. The new ETF will be subadvised by Marathon Asset Management LP and is subject to all applicable regulatory approvals.
The one-year MFC stock forecast points to a potential upside of 4.12. The average equity rating for MFC stock is currently 2.14, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $22.82 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 2.14. 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 0.33, 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.
MFC Stock Performance Analysis:
Manulife Financial Corp. [MFC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.18. With this latest performance, MFC shares gained by 0.23% in over the last four-week period, additionally plugging by 13.49% over the last 6 months – not to mention a rise of 10.51% 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 58.84, with the RSI for the last a single of trading hit 57.03, and the three-weeks RSI is set at 60.25 for Manulife Financial Corp. [MFC]. The present Moving Average for the last 50 days of trading for this stock 21.01, while it was recorded at 21.98 for the last single week of trading, and 19.36 for the last 200 days.
Insight into Manulife Financial Corp. Fundamentals:
Manulife Financial Corp.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.07.
MFC Stock EPS
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%.
Manulife Financial Corp. [MFC] Institutonal Ownership Details
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%.
