Manulife Financial (TSE:MFC) Hits New 1-Year High at $39.16

Manulife Financial Co. (TSE:MFC) (NYSE:MFC)’s share price hit a new 52-week high on Thursday . The stock traded as high as C$39.16 and last traded at C$39.06, with a volume of 1367443 shares trading hands. The stock had previously closed at C$38.49.

Analysts Set New Price Targets

A number of brokerages have weighed in on MFC. Barclays set a C$39.00 price target on shares of Manulife Financial and gave the company an “equal weight” rating in a report on Thursday, September 5th. National Bankshares raised their price objective on Manulife Financial from C$38.00 to C$43.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Royal Bank of Canada upped their target price on Manulife Financial from C$38.00 to C$39.00 in a report on Friday, August 9th. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group dropped their price objective on shares of Manulife Financial from C$43.00 to C$42.00 in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$39.18.

Manulife Financial Price Performance

The stock has a 50 day moving average of C$36.24 and a two-hundred day moving average of C$34.88. The company has a debt-to-equity ratio of 49.60, a quick ratio of 2.58 and a current ratio of 36.68. The firm has a market capitalization of C$69.72 billion, a P/E ratio of 16.38, a P/E/G ratio of 12.56 and a beta of 1.05.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported C$0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.88 by C$0.03. The business had revenue of C$12.88 billion during the quarter, compared to the consensus estimate of C$12.27 billion. Manulife Financial had a net margin of 17.34% and a return on equity of 10.41%. Sell-side analysts predict that Manulife Financial Co. will post 4.0413943 earnings per share for the current fiscal year.

Manulife Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.08%. Manulife Financial’s dividend payout ratio (DPR) is presently 68.09%.

Insider Activity

In other news, Director Rocco Gori sold 48,345 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of C$35.73, for a total transaction of C$1,727,395.86. In other news, Director Rocco Gori sold 48,345 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of C$35.73, for a total transaction of C$1,727,395.86. Also, Director Tin Ku sold 2,166 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total value of C$81,116.70. Following the completion of the transaction, the director now directly owns 253 shares of the company’s stock, valued at C$9,474.85. Over the last three months, insiders sold 68,821 shares of company stock valued at $2,455,596. 0.03% of the stock is owned by company 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.