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

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) reached a new 52-week high on Wednesday. The stock traded as high as C$64.28 and last traded at C$63.98, with a volume of 1,624,541 shares. The stock had previously closed at C$62.80.

Wall Street Analyst Weigh In

MFC has been the subject of a number of research reports. Scotia increased their price target on Manulife Financial from C$61.00 to C$67.00 and gave the company a “sector outperform” rating in a research note on Friday, August 7th. Barclays upped their price objective on Manulife Financial from C$56.00 to C$59.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. TD raised their target price on Manulife Financial from C$65.00 to C$67.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Scotiabank cut Manulife Financial from a “sector outperform” rating to a “hold” rating and set a C$67.00 target price for the company. in a research note on Wednesday, October 28th. Finally, BMO Capital Markets lifted their target price on Manulife Financial from C$67.00 to C$70.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$66.45.

Manulife Financial Stock Performance

The firm’s 50-day simple moving average is C$61.31 and its two-hundred day simple moving average is C$55.66. The company has a current ratio of 2.36, a quick ratio of 2.58 and a debt-to-equity ratio of 26.52. The stock has a market capitalization of C$106.16 billion, a PE ratio of 17.39, a PEG ratio of 1.01 and a beta of 0.59.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported C$1.09 earnings per share (EPS) for the quarter. Manulife Financial had a return on equity of 12.98% and a net margin of 11.62%. The firm had revenue of C$20.34 billion during the quarter. On average, equities research analysts expect that Manulife Financial Co. will post 3.61 earnings per share for the current fiscal year.

Manulife Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 21st. Investors of record on Monday, September 21st were issued a dividend of $0.4850 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, August 21st. Manulife Financial’s dividend payout ratio (DPR) is currently 50.14%.

Insider Transactions at Manulife Financial

In other news, insider Patrick David Graham sold 6,843 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of C$62.06, for a total transaction of C$424,676.58. 0.03% of the stock is currently owned by insiders.

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.