Manulife Financial (NYSE:MFC) Stock

Manulife Financial

Manulife Financial provides life insurance, annuities, and asset management products to individuals and group customers in Canada, the United States, and Asia. Its investment management business contributes approximately 20% of its earnings and has around CAD 1.05 trillion in assets under management and administration as of the end of 2023. The US business, which primarily operates under the John Hancock brand, contributes about 27% of earnings and is mainly focused on providing insurance products for estate, business, and income protection. The Asia segment provides insurance products and insurance-based wealth accumulation products in over 11 countries and contributes around 30% of earnings. The Canadian business segment contributes approximately 23% of earnings.

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Shares of Manulife Financial Corporation (NYSE: MFC) closed at $28.87 on Thursday, near its 52-week high of $28.89. A strong-performing Asia business, expanding Wealth and Asset Management business and a solid capital position are driving the stock price higher.

MFC Stock Near 52-Week High: Should You Buy or Wait for a Pullback?

Earnings Beats

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Manulife Financial Corporation (NYSE: MFC) delivered second-quarter 2024 core earnings of 66 cents per share, which beat the Zacks Consensus Estimate by 3.1%. The bottom line improved 6.4% year over year.

Manulife Q2 Earnings Beat Estimates, NBV Sales Rise Y/Y

Manulife Financial Corporation Common Stock

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Manulife Financial Corporation ("Manulife") announced today that it has&nbsp;entered into an automatic share repurchase plan (the "automatic plan") under which its designated broker will repurchase Manulife's common shares pursuant to its previously announced normal course issuer bid ("NCIB"). The actual number of common shares purchased under the automatic plan, the timing of such purchases and the price at which common shares are purchased will depend upon future market conditions. The automatic plan, which was pre-cleared by the TSX, provides for the potential repurchase of common shares at any time, including when Manulife ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules, or otherwise.

Buybacks

Manulife Initiates Automatic Share Repurchase Plan Under Normal Course Issuer Bid; No Terms Disclosed

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Shares of companies in the broader financial sector are trading lower amid overall market weakness on US consumer and economic concerns.

RBC Capital analyst Darko Mihelic maintains Manulife Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MFC#NYSE">MFC</a>) with a Outperform and raises the price target from $49 to $51.

Price Target

RBC Capital Maintains Outperform on Manulife Financial, Raises Price Target to $51

U.S. stocks were lower, with the Dow Jones falling over 1% on Thursday.
Shares of Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) rose sharply during Thursday's session after the company reported third-quarter financial results and beat its adjusted EPADS and <a href="https://www.benzinga.com/news/earnings/25/02/43846533/alibaba-q3-earnings-revenue-and-eps-beat-eyes-global-e-commerce-profitability-in-fy25-increase-investments-in-ai">revenue estimates</a>.
The Jack Ma co-founded e-commerce giant reported fiscal third-quarter 2024 revenue growth of 8% year-on-year to $38.38 billion, beating the analyst consensus estimate of $38.19 billion. Adjusted earnings per ADS of $2.93 beat the analyst consensus estimate of $2.66. Adjusted net income rose 7% Y/Y to $7 billion.
Alibaba Group shares jumped 9.5% to $137.77 on Thursday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Herbalife Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLF#NYSE">HLF</a>) shares jumped 42.5% to $8.01 after the company reported fourth-quarter EPS and revenue above estimates.</li>
<li>Unity Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>) gained 26.6% to $27.19 after the company reported better-than-expected quarterly financial results.</li>
<li>Pediatrix Medical Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MD#NYSE">MD</a>) rose 20.5% to $17.01 after the company reported better-than-expected quarterly financial results.</li>
<li>FTAI Aviation Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTAI#NASDAQ">FTAI</a>) gained 13.8% to $143.11 after the company determined that allegations from recent short seller reports were without merit and said it expects to file its 10-K on time.</li>
<li>Hasbro, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>) gained 13.4% to $69.36 after the company reported better-than-expected quarterly financial results.</li>
<li>Shake Shack Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHAK#NYSE">SHAK</a>) rose 12.7% to $125.32 after the company reported quarterly EPS and revenue above estimates.</li>
<li>Bausch Health Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHC#NYSE">BHC</a>) gained 10.7% to $7.21 after the company reported better-than-expected quarterly sales.</li>
<li>Manulife Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MFC#NYSE">MFC</a>) rose 7.3% to $31.96 after the company announced a dividend raise and a reduction in its shares outstanding through a normal course issuer bid.</li>
<li>STMicroelectronics N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) gained 6.2% to $28.13. The company is preparing to launch its next-generation technologies aimed at improving optical connections within data centers and AI clusters.</li>
</ul>
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Manulife Financial shares are trading higher after the company announced a dividend raise and a reduction in its shares outstanding through a normal course issuer bid.

Manulife's Board of Directors today announced an increase of 10.0% or 4 cents per share to its quarterly common shareholders' dividend resulting in a dividend of $0.44 per share on the common shares of Manulife, payable on and after March 19, 2025, to shareholders of record at the close of business on March 5, 2025.

On February 19, 2025, Manulife Increased Common Shareholders' Dividend From C$0.40 To C$0.44 Per Share

On February 19, 2025, Manulife Financial Reported Q4 2024 Adj. EPS $0.74, Sales $1.530B (Converted To USD)

Manulife Financial Corporation ("Manulife") announced today that it intends to launch a Normal Course Issuer Bid ("NCIB") permitting the purchase for cancellation of up to 51.5&nbsp;million of its common shares, representing approximately 3%&nbsp;of Manulife's issued and outstanding common shares. As at February 12, 2025, Manulife had 1,723,281,035&nbsp;common shares issued and outstanding.&nbsp; Manulife has received approval for the NCIB from the Office of the Superintendent of Financial Institutions Canada and from the Toronto Stock Exchange ("TSX").

On February 19, 2025, Manulife Announced Normal Course Issuer Bid Permitting The Purchase For Cancellation Of Up To 51.5M Of Its Common Shares, Representing ~3% Of Manulife's Issued And Outstanding Common Shares

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Earnings Scheduled For February 19, 2025

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Shares of companies within the banking and financial sector are trading lower amid overall market weakness as investors react to developments regarding advancements in Chinese artificial intelligence. Additionally, investors could be assessing the economic impact of potential tariffs and trade uncertainty.

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Shares of banking and financial services stocks are trading higher following strong bank earnings.

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Shares of insurance stocks are trading lower amid California wildfires.

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Shares of financial companies are trading lower amid overall market weakness following the Fed's rate decision to cut rates by 25 basis points.

Manulife has been notified of an unsolicited mini-tender offer made by New York Stock and Bond LLC (New York Stock and Bond) to purchase up to 50,000 Manulife common shares, or less than 0.003% of the common shares outstanding, at a price of USD$12.50 per share.
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Manulife is in no way associated with New York Stock and Bond and does not recommend or endorse acceptance of this unsolicited offer.
Manulife cautions shareholders that the mini-tender offer has been made at a price below the current market price for Manulife shares. The offer represents a discount of approximately 60.76%&nbsp;and 60.80%, respectively, below the closing prices of Manulife common shares on the TSX and NYSE on November 27, 2024, the last trading day before the mini-tender offer was commenced, and a discount of 61.43% and 61.42%, respectively,&nbsp;below the closing prices on the TSX and NYSE on December 6, 2024.
Mini-tender offers are designed to seek less than 5% of a company's outstanding shares, avoiding disclosure and procedural requirements applicable to most bids under Canadian and U.S. securities regulations. The Canadian Securities Administrators (CSA) and the U.S. Securities and Exchange Commission (SEC) have expressed serious concerns about mini-tender offers, including the possibility that investors might tender to such offers without understanding the offer price relative to the actual market price of their securities.

Management

Manulife Has Been Notified Of An Unsolicited Mini-Tender Offer Made By New York Stock And Bond LLC To Purchase Up To 50K Manulife Common Shares At A Price Of $12.50 Per Share; Manulife Cautions Shareholders That The Mini-Tender Offer Has Been Made At A Price Below The Current Market Price For Manulife Shares

RBC Capital analyst Darko Mihelic reiterates Manulife Financial (TSX:<a class="ticker" href="https://www.benzinga.com/stock/MFC#TSX">MFC</a>) with a Outperform and maintains C$49 price target.

Reiteration

TSX:MFC

RBC Capital Reiterates Outperform on Manulife Financial, Maintains C$49 Price Target

To support this transition, following Gori's retirement he has agreed to serve as an Advisor through August 31, 2025.

Manulife Financial President And CEO Roy Gori Intends To Retire, Effective May 8, 2025, With Phil Witherington Appointed As His Successor

Manulife Financial shares are trading higher after the company reported better-than-expected Q3 adjusted EPS, with sales in line with estimates.

Manulife Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MFC#NYSE">MFC</a>) reported quarterly earnings of $0.73 per share which beat the analyst consensus estimate of $0.67 by 8.96 percent. This is a 6.41 percent increase over earnings of $0.69 per share from the same period last year. The company reported quarterly sales of $1.51 billion which met the analyst consensus estimate. This is a 13.32 percent increase over sales of $1.33 billion the same period last year.

Manulife Financial Q3 Adj $0.73 Beats $0.67 Estimate, Sales $1.51B Inline

Manulife Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MFC#NYSE">MFC</a>) reported quarterly earnings of $1.00 per share which beat the analyst consensus estimate of $0.94 by 6.38 percent. The company reported $1.800 billion in sales this quarter. This is a 35.44 percent increase over sales of $1.329 billion the same period last year.

Manulife Financial Q3 2024 Adj. EPS $1.00 Beats $0.94 Estimate, Sales $1.800B Up From $1.329B YoY

Manulife Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MFC#NYSE">MFC</a>) will release its quarterly earnings report on Wednesday, 2024-11-06. Here's a brief overview for investors ahead of the announcement.
Analysts anticipate Manulife Financial to report an earnings per share (EPS) of $0.67.
The announcement from Manulife Financial is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Overview of Past Earnings</h3>
During the last quarter, the company reported an EPS beat by $0.02, leading to a 2.57% increase in the share price on the subsequent day.
Here's a look at Manulife Financial's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.65</td>
<td>0.67</td>
<td>0.63</td>
<td>0.610</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.67</td>
<td>0.70</td>
<td>0.68</td>
<td>0.686</td>
</tr>
<tr>
<td>Price Change %</td>
<td>3.0%</td>
<td>5.0%</td>
<td>10.0%</td>
<td>3.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730836926_0_0.png" alt="eps graph" />
<h3>Market Performance of Manulife Financial's Stock</h3>
Shares of Manulife Financial were trading at $29.7 as of November 04. Over the last 52-week period, shares are up 66.34%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/MFC/earnings">To track all earnings releases for Manulife Financial visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What's Next: Manulife Financial's Earnings Preview

Insurance

Press Releases

Manulife Financial Corporation announces Dividend Rates on Non-cumulative Rate Reset Class 1 Shares Series 19 and Non-cumulative Floating Rate Class 1 Shares Series 20

Manulife announces Normal Course Issuer Bid

Manulife Reports Full Year and Fourth Quarter 2024 Results

Manulife declares preferred share dividends

Manulife increases common shareholders' dividend by 10.0%

Manulife files 2024 Audited Annual Financial Statements and Related MD&A

Nancy Carroll and John Montalbano appointed to Manulife's Board of Directors

Mutual Funds

Manulife Investment Management Announces February 2025 Cash Distributions for Manulife Exchange Traded Funds and ETF Series of Manulife Funds

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