Manulife Financial Corp. [MFC] Stock trading around $24.20 per share: What’s Next?

Manulife Financial Corp. [NYSE: MFC] stock went on a downward path that fall over -0.37% on Thursday, amounting to a one-week price increase of more than 1.00%. The company report on March 13, 2024 at 1:00 PM that Manulife Chief Financial Officer, Colin Simpson to participate in fireside chat at National Bank of Canada’s 22nd Annual Financial Services Conference.

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

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Colin Simpson, Chief Financial Officer, Manulife, will participate in a fireside chat at National Bank of Canada’s 22nd Annual Financial Services Conference.

Over the last 12 months, MFC stock rose by 28.72%. The one-year Manulife Financial Corp. stock forecast points to a potential upside of 7.32. The average equity rating for MFC stock is currently 2.06, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $43.71 billion, with 1.81 billion shares outstanding and 1.80 billion shares in the current float. Compared to the average trading volume of 3.43M shares, MFC stock reached a trading volume of 3293710 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $26.11 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 2.06. 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.

Jefferies have made an estimate for Manulife Financial Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 22, 2024. The new note on the price target was released on December 12, 2023, representing the official price target for Manulife Financial Corp. stock.

The Average True Range (ATR) for Manulife Financial Corp. is set at 0.40, with the Price to Sales ratio for MFC stock in the period of the last 12 months amounting to 1.63. The Price to Book ratio for the last quarter was 1.43. Price to Free Cash Flow for MFC in the course of the last twelve months was 2.91.

MFC Stock Performance Analysis:

Manulife Financial Corp. [MFC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.00. With this latest performance, MFC shares gained by 9.01% in over the last four-week period, additionally plugging by 28.38% over the last 6 months – not to mention a rise of 28.72% 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 62.64, with the RSI for the last a single of trading hit 62.29, and the three-weeks RSI is set at 63.20 for Manulife Financial Corp. [MFC]. The present Moving Average for the last 50 days of trading for this stock 22.74, while it was recorded at 23.99 for the last single week of trading, and 19.97 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 0.06.


With the latest financial reports released by the company, Manulife Financial Corp. posted 0.6/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 fail the estimates by a Surprise Factor of -1.60%. 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%.