Manulife Financial (TSE:MFC) Reaches New 12-Month High – Should You Buy?

Manulife Financial Co. (TSE:MFC) (NYSE:MFC)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$58.21 and last traded at C$58.09, with a volume of 121771 shares traded. The stock had previously closed at C$57.81.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. National Bank Financial lifted their target price on Manulife Financial from C$56.00 to C$59.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Desjardins set a C$58.00 price target on Manulife Financial and gave the stock a “buy” rating in a research report on Friday, April 17th. Finally, TD decreased their price target on shares of Manulife Financial from C$59.00 to C$58.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$57.00.

Manulife Financial Trading Down 0.1%

The firm’s 50 day simple moving average is C$54.23 and its 200-day simple moving average is C$51.23. The stock has a market capitalization of C$96.21 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 1.01 and a beta of 0.73.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its quarterly earnings data on Wednesday, May 13th. The financial services provider reported C$1.06 EPS for the quarter. The company had revenue of C$2.15 billion during the quarter. Manulife Financial had a net margin of 11.97% and a return on equity of 12.60%. As a group, equities research analysts predict that Manulife Financial Co. will post 3.6104452 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Rahul Madhav Joshi sold 25,000 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of C$54.29, for a total transaction of C$1,357,250.00. Following the completion of the transaction, the insider directly owned 77,185 shares of the company’s stock, valued at approximately C$4,190,373.65. This represents a 24.47% decrease in their ownership of the stock. Also, Director Aimee Decamillo sold 18,000 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of C$51.77, for a total value of C$931,860.00. Following the transaction, the director directly owned 4,996 shares of the company’s stock, valued at C$258,642.92. This trade represents a 78.27% decrease in their ownership of the stock. Over the last ninety days, insiders have sold 136,834 shares of company stock worth $7,311,659. Insiders own 0.03% of the company’s stock.

Manulife Financial Company Profile

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.