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

Key Points

• Manulife hit a new 52-week high of C$53.86 (last C$53.47) on Friday, with volume around 888,619 shares.
• Analysts are broadly positive, giving a consensus Buy rating and a mean price target of C$56.63, with multiple banks issuing Buy/Outperform calls.
• The company has solid fundamentals—market cap C$88.96B, P/E 17.33 and quarterly EPS C$1.12—and pays a quarterly dividend of C$0.485 (annualized yield ~3.6%, DPR 57.3%).

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. National Bank Financial set a C$57.00 price objective on shares of Manulife Financial and gave the stock an "outperform" rating in a research note on Friday, April 24th. Royal Bank Of Canada upped their price objective on shares of Manulife Financial from C$52.00 to C$55.00 and gave the stock an "outperform" rating in a research note on Friday, February 13th. Desjardins set a C$58.00 price target on shares of Manulife Financial and gave the company a "buy" rating in a research note on Friday, April 17th. TD Securities decreased their price target on shares of Manulife Financial from C$60.00 to C$59.00 and set a "buy" rating on the stock in a research note on Thursday, February 12th. Finally, Barclays raised their price objective on shares of Manulife Financial from C$49.00 to C$52.00 in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of C$56.63.

Manulife Financial Trading Down 0.4%

The company's fifty day simple moving average is C$49.12 and its two-hundred day simple moving average is C$49.07. The company has a quick ratio of 2.58, a current ratio of 2.12 and a debt-to-equity ratio of 28.80. The company has a market capitalization of C$88.96 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71.

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

Manulife Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, March 19th were issued a $0.485 dividend. The ex-dividend date was Wednesday, February 25th. This represents a $1.94 annualized dividend and a yield of 3.6%. Manulife Financial's dividend payout ratio (DPR) is 57.33%.

Insiders Place Their Bets

In other Manulife Financial news, Director Adam Thomas Wise sold 3,500 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of C$46.47, for a total value of C$162,645.00. Following the sale, the director directly owned 2,497 shares in the company, valued at approximately C$116,035.59. This trade represents a 58.36% decrease in their ownership of the stock. Company 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.

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