Manulife Financial Corp. [NYSE: MFC] loss -1.62% on the last trading session, reaching $23.71 price per share at the time. The company report on April 4, 2024 at 8:32 AM that Manulife Investment Management Closes Manulife Strategic Secondaries Fund L.P. as GP-led Secondary Program Reaches More Than $600 Million.
US$ unless otherwise stated.
Manulife Investment Management (Manulife IM) today announced the final closing of Manulife Strategic Secondaries Fund L.P. (the fund). The fund strategy focuses exclusively on investments in sector-leading companies backed by high-quality general partners (GPs). With this close, the total GP-led secondaries platform has reached $610 million in aggregate capital commitments from a diverse roster of third-party investors and the Manulife general account.
If compared to the average trading volume of 3.35M shares, MFC reached a trading volume of 9193644 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 $26.27 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 0.45, with the Price to Sales ratio for MFC stock in the period of the last 12 months amounting to 1.60. The Price to Book ratio for the last quarter was 1.40. Price to Free Cash Flow for MFC in the course of the last twelve months was 2.86.
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 -2.43. With this latest performance, MFC shares dropped by -0.84% in over the last four-week period, additionally plugging by 28.16% over the last 6 months – not to mention a rise of 25.65% 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 42.64, with the RSI for the last a single of trading hit 35.58, and the three-weeks RSI is set at 47.61 for Manulife Financial Corp. [MFC]. The present Moving Average for the last 50 days of trading for this stock 23.79, while it was recorded at 24.30 for the last single week of trading, and 20.48 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 0.06.
Manulife Financial Corp. [MFC]: An earnings per share (EPS) analysis
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%.
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 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in MFC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in MFC stock with ownership which is approximately 5.8386%.
