Manulife Financial Co. (TSE:MFC – Get Free Report) (NYSE:MFC) hit a new 52-week high during trading on Thursday . The stock traded as high as C$33.71 and last traded at C$33.63, with a volume of 245729 shares trading hands. The stock had previously closed at C$33.43.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the stock. CIBC raised their price objective on shares of Manulife Financial from C$30.00 to C$34.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. Evercore raised their price objective on shares of Manulife Financial from C$30.00 to C$36.00 in a research note on Tuesday, February 20th. Royal Bank of Canada raised their target price on shares of Manulife Financial from C$34.00 to C$38.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Veritas Investment Research restated a “reduce” rating on shares of Manulife Financial in a report on Friday, February 16th. Finally, Scotiabank raised their target price on shares of Manulife Financial from C$35.00 to C$40.00 and gave the company an “outperform” rating in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$35.80.
View Our Latest Research Report on MFC
Manulife Financial Trading Up 0.8 %
Manulife Financial (TSE:MFC – Get Free Report) (NYSE:MFC) last released its earnings results on Wednesday, February 14th. The financial services provider reported C$0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.84 by C$0.08. Manulife Financial had a net margin of 20.05% and a return on equity of 11.57%. The firm had revenue of C$14.92 billion during the quarter, compared to the consensus estimate of C$10.24 billion. As a group, analysts expect that Manulife Financial Co. will post 3.6849162 EPS for the current fiscal year.
Manulife Financial Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.75%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Tuesday, February 27th. Manulife Financial’s payout ratio is 61.30%.
Insider Transactions at Manulife Financial
In related news, Director Brooks Tingle sold 3,317 shares of Manulife Financial stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$108,664.92. In other news, Senior Officer Steve Finch sold 10,294 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total transaction of C$337,231.44. Also, Director Brooks Tingle sold 3,317 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total transaction of C$108,664.92. Corporate insiders own 0.03% of the company’s stock.
About Manulife Financial
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.
Read More
- Five stocks we like better than Manulife Financial
- What Is Dividend Yield and How Do You Calculate It?
- 3 Value Stocks Too Small For Buffett’s Portfolio
- What to Know About Investing in Penny Stocks
- Foot Locker Builds Up Another Head of Steam; Gains Imminent
- Dividend Screener: How to Evaluate Dividend Stocks Before Buying
- Disney Stock Catches 3 Upgrades In a Single Week
Receive News & Ratings for Manulife Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manulife Financial and related companies with MarketBeat.com's FREE daily email newsletter.