Manulife Financial (TSE:MFC) Sets New 52-Week High – What’s Next?

Manulife Financial Co. (TSE:MFC) (NYSE:MFC)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as C$53.86 and last traded at C$53.47, with a volume of 888619 shares traded. The stock had previously closed at C$53.41.

Wall Street Analysts Forecast Growth

MFC has been the topic of a number of research analyst reports. Canadian Imperial Bank of Commerce upgraded shares of Manulife Financial from a “hold” rating to an “outperform” rating and raised their price objective for the stock from C$50.00 to C$58.00 in a report on Thursday, January 8th. Barclays raised their price objective on shares of Manulife Financial from C$49.00 to C$52.00 in a report on Friday, January 9th. Scotiabank raised their price objective on shares of Manulife Financial from C$55.00 to C$56.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. TD Securities dropped their price objective on shares of Manulife Financial from C$60.00 to C$59.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Finally, Royal Bank Of Canada lifted their price target on shares of Manulife Financial from C$52.00 to C$55.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$56.63.

Manulife Financial Trading Down 0.4%

The business’s 50-day moving average price is C$49.12 and its 200 day moving average price is C$49.07. The company has a market cap of C$88.96 billion, a P/E ratio of 17.33, a P/E/G ratio of 1.01 and a beta of 0.71. The company has a debt-to-equity ratio of 28.80, a quick ratio of 2.58 and a current ratio of 2.12.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its earnings results on Wednesday, February 11th. The financial services provider reported C$1.12 EPS for the quarter. The business had revenue of C$22.03 billion during the quarter. Manulife Financial had a net margin of 10.91% and a return on equity of 11.34%. As a group, analysts expect that Manulife Financial Co. will post 3.6104452 earnings per share for the current year.

Manulife Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Thursday, March 19th were issued a dividend of $0.485 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $1.94 annualized dividend and a dividend yield of 3.6%. Manulife Financial’s payout ratio is presently 57.33%.

Insider Activity at Manulife Financial

In related news, Director Adam Thomas Wise sold 3,500 shares of Manulife Financial stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of C$46.47, for a total transaction of C$162,645.00. Following the completion of the sale, the director owned 2,497 shares of the company’s stock, valued at approximately C$116,035.59. The trade was a 58.36% decrease in their position. Insiders own 0.03% of the company’s stock.

About Manulife Financial

Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com. One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities.