Manulife Financial (TSE:MFC) Reaches New 12-Month High – Should You Buy?

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MFC shares. Jefferies Financial Group lifted their price objective on Manulife Financial from C$42.00 to C$47.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Barclays set a C$39.00 price objective on shares of Manulife Financial and gave the company an “equal weight” rating in a research note on Thursday, September 5th. Royal Bank of Canada upped their price target on Manulife Financial from C$38.00 to C$39.00 in a report on Friday, August 9th. CIBC upped their price objective on Manulife Financial from C$42.00 to C$46.00 in a research report on Friday, November 8th. Finally, Scotiabank increased their price target on shares of Manulife Financial from C$48.00 to C$49.00 in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Manulife Financial has an average rating of “Moderate Buy” and a consensus target price of C$42.27.

Manulife Financial Trading Up 1.8 %

The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60. The stock has a 50 day simple moving average of C$40.63 and a 200-day simple moving average of C$37.33. The firm has a market cap of C$81.83 billion, a P/E ratio of 19.66, a P/E/G ratio of 1.01 and a beta of 1.06.

Manulife Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 19th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Wednesday, November 20th. Manulife Financial’s dividend payout ratio is currently 68.09%.

Insider Activity at Manulife Financial

In other news, Director Tin Ku sold 2,166 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 253 shares in the company, valued at approximately C$9,474.85. This represents a 89.54 % decrease in their ownership of the stock. 0.03% of the stock is currently 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.