Manulife Financial (TSE:MFC) Sets New 12-Month High at $36.75

Manulife Financial Co. (TSE:MFCGet Free Report) (NYSE:MFC)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as C$36.75 and last traded at C$36.72, with a volume of 57063 shares. The stock had previously closed at C$36.58.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. National Bankshares raised Manulife Financial from a “sector perform” rating to an “outperform” rating and raised their price target for the company from C$34.00 to C$38.00 in a report on Thursday, May 9th. National Bank Financial upgraded shares of Manulife Financial from a “sector perform market weight” rating to an “outperform market weight” rating in a research report on Wednesday, May 8th. CIBC increased their price target on shares of Manulife Financial from C$34.00 to C$36.00 in a report on Friday, May 10th. BMO Capital Markets raised their price objective on shares of Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, May 10th. Finally, TD Securities upped their target price on shares of Manulife Financial from C$38.00 to C$40.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$37.50.

Get Our Latest Research Report on MFC

Manulife Financial Price Performance

The stock has a market cap of C$65.39 billion, a PE ratio of 15.93, a P/E/G ratio of 12.56 and a beta of 1.10. The business has a fifty day simple moving average of C$35.22 and a two-hundred day simple moving average of C$32.55. The company has a current ratio of 29.14, a quick ratio of 2.58 and a debt-to-equity ratio of 48.44.

Manulife Financial (TSE:MFCGet Free Report) (NYSE:MFC) last issued its quarterly earnings results on Wednesday, May 8th. The financial services provider reported C$0.94 earnings per share for the quarter, topping the consensus estimate of C$0.90 by C$0.04. Manulife Financial had a return on equity of 10.48% and a net margin of 18.29%. The company had revenue of C$12.80 billion for the quarter, compared to analysts’ expectations of C$12.13 billion. Research analysts forecast that Manulife Financial Co. will post 3.6078629 earnings per share for the current year.

Manulife Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend was Tuesday, May 21st. Manulife Financial’s payout ratio is currently 70.18%.

Insiders Place Their Bets

In other news, Senior Officer Steve Finch sold 11,598 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of C$35.29, for a total value of C$409,293.42. In related news, Director Philip James Witherington sold 97,640 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of C$35.17, for a total transaction of C$3,433,852.34. Also, Senior Officer Steve Finch sold 11,598 shares of Manulife Financial stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of C$35.29, for a total transaction of C$409,293.42. Over the last quarter, insiders have sold 157,878 shares of company stock worth $5,557,706. 0.02% of the stock is currently owned by company insiders.

Manulife Financial Company Profile

(Get Free Report)

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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