Manulife Financial Corp. [MFC] Is Currently -0.05 below its 200 Period Moving Avg: What Does This Mean?

Manulife Financial Corp. [NYSE: MFC] loss -0.05% or -0.01 points to close at $21.86 with a heavy trading volume of 6186913 shares. The company report on February 5, 2024 at 11:01 AM that Manulife Statement on Pharmacy Choice Concerns.

We are making an update so that Canadians supported by Manulife who take specialty medications to treat serious, chronic, and often life-threatening conditions will be able to fill their prescriptions at any pharmacy of their choice. Home delivery will also continue to be an option. We will be implementing this change swiftly and will provide updates on our website.

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“Our mission is: ‘Decisions Made Easier. Lives Made Better.’ To fulfill that, we have listened to and are addressing the concerns we have heard over the past week,” said Naveed Irshad, President and CEO, Manulife Canada. “Though this change impacts only a small number of our members, it helps ensure that all Canadians we support have choice, access, and flexibility in managing their health. We are proud to partner with thousands of pharmacies across the country and contribute to a strong and healthy Canadian healthcare system.”.

The daily chart for MFC points out that the company has recorded 12.68% gains over the past six months.

If we look at the average trading volume of 3.18M shares, MFC reached to a volume of 6186913 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 $23.07 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 2.13. 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 2.83.

Trading performance analysis for MFC stock

Manulife Financial Corp. [MFC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by 0.00. With this latest performance, MFC shares gained by 1.11% in over the last four-week period, additionally plugging by 12.68% over the last 6 months – not to mention a rise of 10.96% 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 58.27, with the RSI for the last a single of trading hit 56.12, and the three-weeks RSI is set at 59.86 for Manulife Financial Corp. [MFC]. The present Moving Average for the last 50 days of trading for this stock 21.11, while it was recorded at 21.99 for the last single week of trading, and 19.38 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%.