Manulife Financial (TSE:MFC) Sets New 52-Week High at $33.71

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) hit a new 52-week high on Thursday . The company traded as high as C$33.71 and last traded at C$33.63, with a volume of 245729 shares changing hands. The stock had previously closed at C$33.43.

Analysts Set New Price Targets

MFC has been the topic of several recent analyst reports. CIBC lifted their price target on Manulife Financial from C$30.00 to C$34.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Cormark raised Manulife Financial from a “market perform” rating to a “buy” rating and lifted their price objective for the stock from C$33.00 to C$36.00 in a report on Friday, February 16th. National Bankshares lifted their price objective on Manulife Financial from C$29.00 to C$33.00 and gave the stock a “sector perform” rating in a report on Thursday, February 15th. BMO Capital Markets raised Manulife Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from C$31.00 to C$35.00 in a report on Thursday, February 15th. Finally, Royal Bank of Canada lifted their price objective on Manulife Financial from C$34.00 to C$38.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$35.80.

Manulife Financial Stock Up 0.8 %

The business has a fifty day moving average of C$31.36 and a 200 day moving average of C$28.17. The firm has a market cap of C$61.02 billion, a P/E ratio of 12.81, a P/E/G ratio of 12.56 and a beta of 1.10. The company has a quick ratio of 2.58, a current ratio of 3.79 and a debt-to-equity ratio of 45.69.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings results on Wednesday, February 14th. The financial services provider reported C$0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.84 by C$0.08. Manulife Financial had a return on equity of 11.57% and a net margin of 20.05%. The company had revenue of C$14.92 billion during the quarter, compared to the consensus estimate of C$10.24 billion. On average, equities research analysts predict that Manulife Financial Co. will post 3.6849162 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, February 28th were given a dividend of $0.40 per share. This is a boost from Manulife Financial’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 4.75%. The ex-dividend date was Tuesday, February 27th. Manulife Financial’s dividend payout ratio is currently 61.30%.

Insider Transactions at Manulife Financial

In related news, Senior Officer Steve Finch sold 10,294 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total transaction of C$337,231.44. In other Manulife Financial news, Senior Officer Steve Finch sold 10,294 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total value of C$337,231.44. Also, Director Brooks Tingle sold 3,317 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$108,664.92. 0.03% of the stock is owned by insiders.

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.