Manulife Financial (TSE:MFC) Hits New 1-Year High – What’s Next?

Manulife Financial Co. (TSE:MFC) (NYSE:MFC)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as C$45.76 and last traded at C$45.70, with a volume of 2275472 shares trading hands. The stock had previously closed at C$45.38.

Wall Street Analyst Weigh In

MFC has been the topic of several recent analyst reports. National Bankshares lifted their price objective on Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. TD Securities boosted their target price on Manulife Financial from C$45.00 to C$48.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada boosted their price target on Manulife Financial from C$38.00 to C$39.00 in a research report on Friday, August 9th. Finally, CIBC boosted their price target on Manulife Financial from C$42.00 to C$46.00 in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Manulife Financial has a consensus rating of “Moderate Buy” and a consensus price target of C$42.27.

Manulife Financial Trading Up 0.1 %

The business has a 50-day moving average price of C$40.47 and a two-hundred day moving average price of C$37.23. The stock has a market capitalization of C$80.39 billion, a P/E ratio of 19.31, a P/E/G ratio of 1.01 and a beta of 1.06. The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60.

Manulife Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 19th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.60 annualized dividend and a dividend yield of 3.52%. Manulife Financial’s dividend payout ratio is currently 68.09%.

Insider Buying and Selling

In other Manulife Financial news, Director Tin Ku sold 2,166 shares of the company’s stock in a transaction dated 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 owns 253 shares of the company’s stock, valued at C$9,474.85. This represents a 0.00 % decrease in their position. In other news, Director Tin Ku sold 2,166 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the completion of the transaction, the director now directly owns 253 shares in the company, valued at C$9,474.85. This trade represents a 0.00 % decrease in their ownership of the stock. Also, Senior Officer Steve Finch sold 11,599 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of C$35.73, for a total value of C$414,439.23. Insiders sold a total of 62,113 shares of company stock worth $2,223,030 in the last ninety days. 0.03% of the stock is owned by 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.