Manulife Financial (TSE:MFC) Stock Passes Above 200-Day Moving Average of $29.15

Manulife Financial Co. (TSE:MFC) (NYSE:MFC)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$29.15 and traded as high as C$32.24. Manulife Financial shares last traded at C$32.14, with a volume of 7,136,486 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MFC shares. TD Securities cut shares of Manulife Financial from an “action list buy” rating to a “buy” rating and lifted their target price for the company from C$35.00 to C$37.00 in a report on Wednesday, February 21st. Desjardins raised shares of Manulife Financial from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$29.00 to C$36.00 in a research note on Friday, February 16th. Veritas Investment Research reissued a “reduce” rating on shares of Manulife Financial in a research note on Friday, February 16th. Evercore boosted their price objective on shares of Manulife Financial from C$30.00 to C$36.00 in a research note on Tuesday, February 20th. Finally, Royal Bank of Canada boosted their price objective on shares of Manulife Financial from C$34.00 to C$38.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$36.30.

Manulife Financial Stock Up 1.3 %

The company has a debt-to-equity ratio of 45.69, a quick ratio of 2.58 and a current ratio of 3.79. The firm’s 50-day moving average is C$32.58 and its 200 day moving average is C$29.15. The firm has a market capitalization of C$58.17 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 12.56 and a beta of 1.09.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings data on Wednesday, February 14th. The financial services provider reported C$0.92 EPS for the quarter, topping the consensus estimate of C$0.84 by C$0.08. The business had revenue of C$14.92 billion for the quarter, compared to analyst estimates of C$10.24 billion. Manulife Financial had a net margin of 20.05% and a return on equity of 11.57%. As a group, research analysts forecast that Manulife Financial Co. will post 3.6893764 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, February 28th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.98%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Tuesday, February 27th. Manulife Financial’s dividend payout ratio is 61.30%.

Insider Buying and Selling at Manulife Financial

In other Manulife Financial news, Director Brooks Tingle sold 3,317 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 value of C$108,664.92. In other news, Director Brooks Tingle sold 3,317 shares of the 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$108,664.92. Also, Senior Officer Steve Finch sold 10,294 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total transaction of C$337,231.44. 0.02% of the stock is owned by insiders.

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.