Manulife Financial (TSE:MFC) Reaches New 1-Year High at $37.58

Manulife Financial Co. (TSE:MFC) (NYSE:MFC)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as C$37.58 and last traded at C$37.24, with a volume of 1519271 shares trading hands. The stock had previously closed at C$37.32.

Wall Street Analysts Forecast Growth

MFC has been the topic of several recent research reports. Royal Bank of Canada raised their price target on Manulife Financial from C$38.00 to C$39.00 in a research report on Friday, August 9th. Scotiabank boosted their target price on Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, August 9th. National Bankshares increased their price target on shares of Manulife Financial from C$38.00 to C$43.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Barclays set a C$39.00 price objective on shares of Manulife Financial and gave the company an “equal weight” rating in a report on Thursday. Finally, CIBC increased their target price on shares of Manulife Financial from C$34.00 to C$36.00 in a report on Friday, May 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$39.18.

Manulife Financial Stock Performance

The stock has a fifty day simple moving average of C$36.03 and a 200-day simple moving average of C$34.56. The stock has a market cap of C$65.38 billion, a P/E ratio of 15.63, a PEG ratio of 12.56 and a beta of 1.06. The company has a debt-to-equity ratio of 49.60, a quick ratio of 2.58 and a current ratio of 36.68.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported C$0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.88 by C$0.03. The business had revenue of C$12.88 billion during the quarter, compared to the consensus estimate of C$12.27 billion. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%. On average, equities analysts expect that Manulife Financial Co. will post 3.6883768 earnings per share for the current year.

Manulife Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date is Wednesday, August 21st. Manulife Financial’s dividend payout ratio is presently 68.09%.

Insider Activity at Manulife Financial

In other Manulife Financial news, Director Tin Ku sold 2,166 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the sale, the director now directly owns 253 shares of the company’s stock, valued at approximately C$9,474.85. In other Manulife Financial news, Director Tin Ku sold 2,166 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the transaction, the director now owns 253 shares of the company’s stock, valued at approximately C$9,474.85. Also, Senior Officer Steve Finch sold 11,599 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of C$35.73, for a total value of C$414,439.23. Over the last 90 days, insiders sold 68,821 shares of company stock valued at $2,455,596. Corporate insiders own 0.03% of the company’s stock.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.