Manulife Financial (TSE:MFC) Hits New 1-Year High – Still a Buy?

Manulife Financial Co. (TSE:MFC) (NYSE:MFC)’s share price reached a new 52-week high on Thursday . The stock traded as high as C$54.63 and last traded at C$54.40, with a volume of 1252849 shares changing hands. The stock had previously closed at C$54.48.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. National Bank Financial set a C$57.00 target price on shares of Manulife Financial and gave the company an “outperform” rating in a report on Friday, April 24th. Scotiabank lifted their target price on shares of Manulife Financial from C$55.00 to C$56.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Royal Bank Of Canada lifted their target price on shares of Manulife Financial from C$52.00 to C$55.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Desjardins set a C$58.00 target price on shares of Manulife Financial and gave the company a “buy” rating in a report on Friday, April 17th. Finally, Barclays lifted their target price on shares of Manulife Financial from C$49.00 to C$52.00 in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$56.63.

Manulife Financial Price Performance

The company has a debt-to-equity ratio of 28.80, a quick ratio of 2.58 and a current ratio of 2.12. The company has a market cap of C$91.32 billion, a PE ratio of 17.82, a PEG ratio of 1.01 and a beta of 0.74. The company’s 50-day simple moving average is C$49.40 and its 200 day simple moving average is C$49.33.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its quarterly earnings results on Wednesday, February 11th. The financial services provider reported C$1.12 EPS for the quarter. Manulife Financial had a net margin of 10.91% and a return on equity of 11.34%. The company had revenue of C$22.03 billion during the quarter. On average, sell-side analysts predict that Manulife Financial Co. will post 3.6104452 earnings per share for the current fiscal year.

Manulife Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, March 19th were given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Wednesday, February 25th. Manulife Financial’s dividend payout ratio (DPR) is currently 57.33%.

Insider Activity

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

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.