Manulife Financial (TSE:MFC) Reaches New 52-Week High – Time to Buy?

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) reached a new 52-week high on Wednesday. The stock traded as high as C$64.28 and last traded at C$63.98, with a volume of 1,624,541 shares. The stock had previously closed at C$62.80.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MFC shares. Scotiabank lowered Manulife Financial from a “sector outperform” rating to a “hold” rating and set a C$67.00 price objective on the stock. in a research report on Wednesday, October 28th. TD increased their price target on shares of Manulife Financial from C$69.00 to C$72.00 and gave the stock a “buy” rating in a research report on Thursday. Scotia boosted their price target on Manulife Financial from C$61.00 to C$67.00 and gave the stock a “sector outperform” rating in a report on Friday, August 7th. Jefferies Financial Group boosted their target price on shares of Manulife Financial from C$61.00 to C$70.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Finally, Royal Bank Of Canada lifted their target price on Manulife Financial from C$55.00 to C$67.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Manulife Financial has a consensus rating of “Moderate Buy” and an average target price of C$67.00.

Manulife Financial Trading Down 1.0%

The firm has a market capitalization of C$100.77 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 1.01 and a beta of 0.53. The company has a debt-to-equity ratio of 26.52, a current ratio of 2.36 and a quick ratio of 2.58. The business’s 50 day moving average price is C$61.43 and its 200-day moving average price is C$55.76.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported C$1.09 EPS for the quarter. Manulife Financial had a return on equity of 12.98% and a net margin of 11.62%. The business had revenue of C$20.34 billion during the quarter. Equities analysts forecast that Manulife Financial Co. will post 3.61 EPS for the current fiscal year.

Manulife Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 21st. Shareholders of record on Monday, September 21st were paid a $0.4850 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Friday, August 21st. Manulife Financial’s payout ratio is presently 50.14%.

Insider Buying and Selling

In other news, insider Patrick David Graham sold 6,843 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of C$62.06, for a total value of C$424,676.58. Insiders own 0.03% of the company’s stock.

About Manulife Financial

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.