Manulife Financial (TSE:MFC) Hits New 12-Month High - Time to Buy?

Key Points

• Manulife hit a new 52-week high of C$54.63 (last C$54.40) and has seen multiple analyst upgrades, leaving a MarketBeat consensus Buy rating with a consensus target of C$56.63.
• The firm has a C$90.4 billion market cap and a P/E of 17.61, reported quarterly EPS of C$1.12 on C$22.03 billion revenue, and pays an annualized dividend of C$1.94 for an approximate 3.6% yield with a 57% payout ratio.

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC hit a new 52-week high on Thursday . The company traded as high as C$54.63 and last traded at C$54.40, with a volume of 1252849 shares changing hands. The stock had previously closed at C$54.48.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Desjardins set a C$58.00 price objective on Manulife Financial and gave the stock a "buy" rating in a research note on Friday, April 17th. Royal Bank Of Canada upped their target price on Manulife Financial from C$52.00 to C$55.00 and gave the company an "outperform" rating in a research report on Friday, February 13th. Scotiabank upped their target price on Manulife Financial from C$55.00 to C$56.00 and gave the company an "outperform" rating in a research report on Friday, February 13th. Barclays increased their price objective on Manulife Financial from C$49.00 to C$52.00 in a report on Friday, January 9th. Finally, Jefferies Financial Group upped their target price on Manulife Financial from C$54.00 to C$58.00 in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of C$56.63.

Manulife Financial Stock Down 0.8%

The company has a market cap of C$90.40 billion, a PE ratio of 17.61, a P/E/G ratio of 1.01 and a beta of 0.74. The business has a 50-day simple moving average of C$49.30 and a 200-day simple moving average of C$49.26. The company has a quick ratio of 2.58, a current ratio of 2.12 and a debt-to-equity ratio of 28.80.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last issued its quarterly earnings results on Wednesday, February 11th. The financial services provider reported C$1.12 earnings per share (EPS) for the quarter. The company had revenue of C$22.03 billion for the quarter. Manulife Financial had a return on equity of 11.34% and a net margin of 10.91%. Equities research analysts anticipate that Manulife Financial Co. will post 3.6104452 EPS for the current year.

Manulife Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, March 19th were given a dividend of $0.485 per share. The ex-dividend date was Wednesday, February 25th. This represents a $1.94 dividend on an annualized basis and a yield of 3.6%. Manulife Financial's dividend payout ratio is currently 57.33%.

Insider Buying and Selling at Manulife Financial

In other news, Director Adam Thomas Wise sold 3,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of C$46.47, for a total value of C$162,645.00. Following the transaction, the director owned 2,497 shares in the company, valued at C$116,035.59. This trade represents a 58.36% decrease in their ownership of the stock. 0.03% of the stock is currently owned by company insiders.

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.

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