Manulife Financial (TSE:MFC) Reaches New 52-Week High – Time to Buy?

Manulife Financial Co. (TSE:MFC) (NYSE:MFC)’s share price hit a new 52-week high on Wednesday . The stock traded as high as C$42.05 and last traded at C$41.80, with a volume of 3156373 shares trading hands. The stock had previously closed at C$41.82.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MFC shares. Barclays set a C$39.00 target price on Manulife Financial and gave the stock an “equal weight” rating in a report on Thursday, September 5th. Jefferies Financial Group lowered their price objective on shares of Manulife Financial from C$43.00 to C$42.00 in a research note on Thursday, July 18th. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. TD Securities raised their target price on shares of Manulife Financial from C$40.00 to C$41.00 in a report on Friday, July 12th. Finally, Royal Bank of Canada upped their price target on Manulife Financial from C$38.00 to C$39.00 in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$39.18.

Manulife Financial Stock Down 0.0 %

The firm has a market cap of C$73.99 billion, a PE ratio of 17.79, a P/E/G ratio of 12.56 and a beta of 1.05. The company has a debt-to-equity ratio of 49.60, a current ratio of 36.68 and a quick ratio of 2.58. The business has a fifty day moving average price of C$37.93 and a two-hundred day moving average price of C$35.90.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported C$0.91 EPS for the quarter, topping analysts’ consensus estimates of C$0.88 by C$0.03. The firm had revenue of C$12.88 billion during the quarter, compared to analyst estimates of C$12.27 billion. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%. On average, analysts anticipate that Manulife Financial Co. will post 4.001004 EPS for the current fiscal year.

Manulife Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st were paid a $0.40 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $1.60 annualized dividend and a yield of 3.83%. Manulife Financial’s dividend payout ratio is presently 68.09%.

Insiders Place Their Bets

In other news, Director Tin Ku sold 2,166 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the transaction, the director now directly owns 253 shares in the company, valued at C$9,474.85. The trade was a 0.00 % decrease in their position. In other news, Director Tin Ku sold 2,166 shares of Manulife Financial stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the completion of the sale, the director now directly owns 253 shares in the company, valued at C$9,474.85. The trade was a 0.00 % decrease in their position. Also, Senior Officer Steve Finch sold 11,599 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of C$35.73, for a total value of C$414,439.23. Insiders sold a total of 68,821 shares of company stock worth $2,455,596 in the last quarter. 0.03% of the stock is currently owned by corporate insiders.

About Manulife Financial

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.