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

Key Points

• Manulife Financial reached a 52-week high, trading as high as C$64.28 and last at C$63.98, up from its prior close of C$62.80.
• Analysts hold a Moderate Buy consensus—nine rate the stock Buy and two Hold—with a consensus price target of C$66.45.
• The company reported quarterly earnings of C$1.09 per share on C$20.34 billion in revenue and pays an annualized dividend of C$1.94, yielding about 3.0%.

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

Wall Street Analyst Weigh In

Several brokerages have commented on MFC. Barclays upped their price target on Manulife Financial from C$56.00 to C$59.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 6th. BMO Capital Markets boosted 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. Canadian Imperial Bank of Commerce boosted their price objective on shares of Manulife Financial from C$61.00 to C$69.00 in a research note on Wednesday, July 15th. Scotia raised their target price on shares of 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. Finally, National Bank Financial reduced their target price on shares of Manulife Financial from C$69.00 to C$68.00 and set an "outperform" rating on the stock in a report on Monday, October 19th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of C$66.45.

Manulife Financial Price Performance

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 cap of C$106.16 billion, a PE ratio of 17.39, a P/E/G ratio of 1.01 and a beta of 0.59. The company's 50 day moving average is C$61.31 and its 200-day moving average is C$55.66.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last announced its earnings results on Wednesday, August 5th. The financial services provider reported C$1.09 earnings per share for the quarter. Manulife Financial had a return on equity of 12.98% and a net margin of 11.62%. The company had revenue of C$20.34 billion during the quarter. As a group, sell-side analysts predict that Manulife Financial Co. will post 3.61 earnings per share for the current year.

Manulife Financial Announces Dividend

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

Insiders Place Their Bets

In other Manulife Financial news, insider Patrick David Graham sold 6,843 shares of the firm's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of C$62.06, for a total value 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.

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