Manulife Financial (TSE:MFC) Hits New 1-Year High at $36.75

Manulife Financial Co. (TSE:MFC) (NYSE:MFC)’s stock price hit a new 52-week high on Thursday . The company 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

A number of analysts have weighed in on MFC shares. National Bankshares raised shares of Manulife Financial from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from C$34.00 to C$38.00 in a report on Thursday, May 9th. CIBC increased their price objective on shares of Manulife Financial from C$34.00 to C$36.00 in a report on Friday, May 10th. Evercore increased their price objective on shares of Manulife Financial from C$36.00 to C$37.00 in a report on Friday, May 10th. BMO Capital Markets increased their price objective on shares of Manulife Financial from C$40.00 to C$41.00 in a report on Friday, May 10th. Finally, TD Securities increased their price objective on shares of Manulife Financial from C$38.00 to C$40.00 and gave the stock a “buy” rating in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$37.50.

Manulife Financial Stock Up 0.2 %

The stock’s 50-day moving average is C$34.95 and its 200-day moving average is C$32.43. The stock has a market cap of C$65.97 billion, a P/E ratio of 16.04, a price-to-earnings-growth 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.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its earnings results on Wednesday, May 8th. The financial services provider reported C$0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.90 by C$0.04. The firm had revenue of C$12.80 billion during the quarter, compared to analyst estimates of C$12.13 billion. Manulife Financial had a net margin of 18.29% and a return on equity of 10.48%. As a group, research analysts anticipate that Manulife Financial Co. will post 3.6078629 earnings per share for the current fiscal year.

Manulife Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were given a $0.40 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $1.60 dividend on an annualized basis and a yield of 4.37%. Manulife Financial’s dividend payout ratio is presently 70.18%.

Insider Activity at Manulife Financial

In other news, Director Philip James Witherington sold 97,640 shares of the firm’s 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. In other news, Director Philip James Witherington sold 97,640 shares of the firm’s 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, Director Rocco Gori sold 48,640 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of C$35.25, for a total transaction of C$1,714,560.00. Insiders sold 157,878 shares of company stock worth $5,557,706 in the last 90 days. Corporate insiders own 0.02% of the company’s stock.

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.