Manulife Financial (NYSE:MFC) Reaches New 12-Month High - What's Next?

Manulife Financial Co. (NYSE:MFC - Get Free Report) TSE: MFC's stock price hit a new 52-week high during trading on Friday . The company traded as high as $30.11 and last traded at $30.11, with a volume of 18911 shares trading hands. The stock had previously closed at $29.62.

Analyst Ratings Changes

MFC has been the topic of a number of analyst reports. TD Securities increased their target price on Manulife Financial from $38.00 to $40.00 and gave the company a "buy" rating in a report on Friday, June 28th. Dbs Bank raised Manulife Financial to a "strong-buy" rating in a research report on Thursday, August 8th. Finally, Barclays began coverage on Manulife Financial in a research report on Thursday, September 5th. They issued an "equal weight" rating on the stock. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $35.67.

Manulife Financial Price Performance

The stock's fifty day simple moving average is $27.16 and its 200-day simple moving average is $25.93. The stock has a market cap of $54.12 billion, a P/E ratio of 17.51, a PEG ratio of 1.06 and a beta of 1.08.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.27. The firm had revenue of $9.41 billion for the quarter, compared to analysts' expectations of $8.95 billion. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. During the same quarter last year, the company posted $0.62 earnings per share. Analysts forecast that Manulife Financial Co. will post 2.72 EPS for the current year.

Manulife Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.84%. Manulife Financial's dividend payout ratio (DPR) is presently 66.86%.

Institutional Investors Weigh In On Manulife Financial

A number of hedge funds have recently made changes to their positions in MFC. Stifel Financial Corp raised its holdings in shares of Manulife Financial by 27.4% during the fourth quarter. Stifel Financial Corp now owns 208,238 shares of the financial services provider's stock valued at $4,602,000 after buying an additional 44,796 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Manulife Financial by 2.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,951,571 shares of the financial services provider's stock worth $43,194,000 after purchasing an additional 50,546 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Manulife Financial by 11.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,184,670 shares of the financial services provider's stock worth $136,681,000 after purchasing an additional 644,820 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in Manulife Financial by 1.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 169,173 shares of the financial services provider's stock worth $3,739,000 after purchasing an additional 2,269 shares in the last quarter. Finally, Pinebridge Investments L.P. raised its holdings in Manulife Financial by 84.7% during the fourth quarter. Pinebridge Investments L.P. now owns 31,918 shares of the financial services provider's stock worth $705,000 after purchasing an additional 14,636 shares in the last quarter. Institutional investors own 52.56% 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.