Manulife Financial (TSE:MFC) Sets New 1-Year High – Should You Buy?

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) reached a new 52-week high on Wednesday . The company traded as high as C$52.98 and last traded at C$52.97, with a volume of 1308355 shares changing hands. The stock had previously closed at C$52.18.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MFC shares. TD Securities lowered their price objective on shares of Manulife Financial from C$60.00 to C$59.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Jefferies Financial Group boosted their target price on shares of Manulife Financial from C$54.00 to C$58.00 in a report on Monday, February 2nd. Barclays upped their target price on shares of Manulife Financial from C$49.00 to C$52.00 in a research report on Friday, January 9th. Scotiabank lifted their price target on Manulife Financial from C$55.00 to C$56.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Finally, Royal Bank Of Canada boosted their price objective on Manulife Financial from C$52.00 to C$55.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$55.63.

Manulife Financial Price Performance

The company has a quick ratio of 2.58, a current ratio of 2.12 and a debt-to-equity ratio of 28.80. The company has a market capitalization of C$88.81 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71. The firm’s 50 day simple moving average is C$48.70 and its 200 day simple moving average is C$48.49.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its earnings results on Wednesday, February 11th. The financial services provider reported C$1.12 earnings per share (EPS) for the quarter. Manulife Financial had a net margin of 10.91% and a return on equity of 11.34%. The firm had revenue of C$22.03 billion during the quarter. As a group, research analysts anticipate that Manulife Financial Co. will post 3.6104452 EPS for the current fiscal year.

Manulife Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, March 19th were paid a $0.485 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $1.94 annualized dividend and a yield of 3.7%. Manulife Financial’s dividend payout ratio (DPR) is presently 57.33%.

Insider Activity

In other Manulife Financial news, Director Adam Thomas Wise sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of C$46.47, for a total transaction of C$162,645.00. Following the completion of the transaction, the director owned 2,497 shares in the company, valued at C$116,035.59. The trade was a 58.36% decrease in their ownership of the stock. 0.03% of the stock is owned by company insiders.

Manulife Financial Company Profile

Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com. One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities.