RBC Global Asset Management, Inc. recently announced the acquisition of new stake in Manulife Financial Corp. (NYSE:MFC). The institutional investor has increased its shareholding in the Financial company by 1.91% to 118.82 million shares with purchase of 2.22 million shares. This fresh investment now brings its stake to 6.50% valued currently at $2.33 billion. In addition, The Vanguard Group, Inc. raised its holdings by 0.5 million to 46.28 million shares. And BMO Asset Management Corp. has lifted its position by 16.91% or 4.6 million shares – to 31.81 million shares.
Currently, there are 1.86B common shares owned by the public and among those 1.80B shares have been available to trade.
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The top 3 mutual fund holders in Manulife Financial Corp. are Vanguard Total International Stoc, Government Pension Fund – Global, and Harding Loevner International Equ. Vanguard Total International Stoc owns 25.27 million shares of the company’s stock, all valued at over $495.11 million. The company bought an additional 0.21 million shares recently to bring their total holdings to about 1.38% of the shares outstanding. Government Pension Fund – Global bought 3.73 million shares to see its total holdings expand to 22.3 million shares valued at over $436.87 million and representing 1.22% of the shares outstanding. Harding Loevner International Equ sold -1.29 million shares to bring its total holdings to over 18.65 million shares at a value of $365.3 million. Harding Loevner International Equ now owns shares totaling to 1.02% of the shares outstanding.
However, the script later moved the day high at 21.73, up 2.99%. The company’s stock has a 5-day price change of 3.78% and 11.74% over the past three months. MFC shares are trading 21.64% year to date (YTD), with the 12-month market performance up to 24.07% higher. It has a 12-month low price of $17.07 and touched a high of $21.43 over the same period. MFC has an average intraday trading volume of 3.16 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.71%, 14.80%, and 14.92% respectively.
Institutional ownership of Manulife Financial Corp. (NYSE: MFC) shares accounts for 51.82% of the company’s 1.86B shares outstanding. Mutual fund holders own 20.78%, while other institutional holders and individual stakeholders account for 30.85% and — respectively.
It has a market capitalization of $39.20B and a beta (3y monthly) value of 1.08. The stock’s trailing 12-month PE ratio is 10.82, while the earnings-per-share (ttm) stands at $2.00. The company has a PEG of 3.81 and the debt-to-equity ratio at 0.27. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.81% over the week and 1.49% over the month.
Analysts forecast that Manulife Financial Corp. (MFC) will achieve an EPS of $0.64 for the current quarter, $0.67 for the next quarter and $2.72 for 2024. The lowest estimate earnings-per-share for the quarter is $0.61 while analysts give the company a high EPS estimate of $0.65. Comparatively, EPS for the current quarter was $0.66 a year ago. Earnings per share for the fiscal year are expected to increase by 6.21%, and 7.86% over the next financial year. EPS should shrink at an annualized rate of 2.84% over the next five years, compared to 30.24% over the past 5-year period.
