Manulife Financial Co. (TSE:MFC – Get Free Report) (NYSE:MFC) shares hit a new 52-week high during trading on Friday after TD Securities raised their price target on the stock from C$38.00 to C$40.00. TD Securities currently has a buy rating on the stock. Manulife Financial traded as high as C$36.62 and last traded at C$36.56, with a volume of 509375 shares traded. The stock had previously closed at C$36.29.
A number of other brokerages have also recently commented on MFC. National Bank Financial raised Manulife Financial from a “sector perform market weight” rating to an “outperform market weight” rating in a research report on Wednesday, May 8th. CIBC lifted their price target on Manulife Financial from C$34.00 to C$36.00 in a research report on Friday, May 10th. National Bankshares raised Manulife Financial from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from C$34.00 to C$38.00 in a research report on Thursday, May 9th. Evercore lifted their price objective on Manulife Financial from C$36.00 to C$37.00 in a research note on Friday, May 10th. Finally, BMO Capital Markets lifted their price objective on Manulife Financial from C$40.00 to C$41.00 in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$37.50.
Get Our Latest Stock Analysis on Manulife Financial
Insider Activity at Manulife Financial
Manulife Financial Trading Up 0.4 %
The firm has a market capitalization of C$65.57 billion, a PE ratio of 16.02, a PEG ratio of 12.56 and a beta of 1.10. The company has a current ratio of 29.14, a quick ratio of 2.58 and a debt-to-equity ratio of 48.44. The business has a fifty day moving average price of C$34.60 and a two-hundred day moving average price of C$32.18.
Manulife Financial (TSE:MFC – Get Free Report) (NYSE:MFC) last released its quarterly earnings results on Wednesday, May 8th. The financial services provider reported C$0.94 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.90 by C$0.04. The business had revenue of C$12.80 billion during the quarter, compared to analysts’ expectations of C$12.13 billion. Manulife Financial had a return on equity of 10.48% and a net margin of 18.29%. Analysts expect that Manulife Financial Co. will post 3.6078629 EPS for the current fiscal year.
Manulife Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend was Tuesday, May 21st. Manulife Financial’s dividend payout ratio is presently 70.18%.
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.
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