Manulife Financial (TSE:MFC) Sets New 1-Year High – Here’s What Happened

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) reached a new 52-week high during trading on Monday . The company traded as high as C$59.30 and last traded at C$58.87, with a volume of 829454 shares trading hands. The stock had previously closed at C$58.83.

Analyst Upgrades and Downgrades

MFC has been the subject of a number of research reports. Desjardins set a C$58.00 price target on Manulife Financial and gave the company a “buy” rating in a research note on Friday, April 17th. TD dropped their price objective on Manulife Financial from C$59.00 to C$58.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Finally, National Bank Financial boosted their price objective on Manulife Financial from C$56.00 to C$59.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$57.00.

Manulife Financial Stock Performance

The firm has a market capitalization of C$96.78 billion, a P/E ratio of 16.74, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71. The firm has a 50 day moving average price of C$54.90 and a two-hundred day moving average price of C$51.62.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its earnings results on Wednesday, May 13th. The financial services provider reported C$1.06 earnings per share (EPS) for the quarter. Manulife Financial had a return on equity of 12.60% and a net margin of 11.97%.The company had revenue of C$2.15 billion for the quarter. Equities research analysts forecast that Manulife Financial Co. will post 3.6104452 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Manulife Financial news, Director Aimee Decamillo sold 18,000 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of C$51.77, for a total transaction of C$931,860.00. Following the completion of the sale, the director directly owned 4,996 shares of the company’s stock, valued at approximately C$258,642.92. This represents a 78.27% decrease in their ownership of the stock. Also, Director Anthony Alex Silva sold 1,100 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of C$53.17, for a total transaction of C$58,487.00. Following the sale, the director directly owned 7,075 shares of the company’s stock, valued at C$376,177.75. This represents a 13.46% decrease in their ownership of the stock. Insiders have sold a total of 136,834 shares of company stock worth $7,311,659 in the last quarter. 0.03% of the stock is currently owned by corporate insiders.

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.