Manulife Financial (TSE:MFC) Shares Cross Above 200-Day Moving Average – What’s Next?

Manulife Financial Co. (TSE:MFC) (NYSE:MFC)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$47.96 and traded as high as C$48.02. Manulife Financial shares last traded at C$47.92, with a volume of 6,663,322 shares traded.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Jefferies Financial Group raised their price target on shares of Manulife Financial from C$54.00 to C$58.00 in a report on Monday, February 2nd. TD Securities decreased their price objective on Manulife Financial from C$60.00 to C$59.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Barclays raised their target price on Manulife Financial from C$49.00 to C$52.00 in a research note on Friday, January 9th. Canadian Imperial Bank of Commerce upgraded Manulife Financial from a “hold” rating to an “outperform” rating and lifted their target price for the company from C$50.00 to C$58.00 in a research report on Thursday, January 8th. Finally, Royal Bank Of Canada upped their price target on Manulife Financial from C$52.00 to C$55.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of C$55.63.

Manulife Financial Stock Up 2.3%

The business’s fifty day moving average is C$48.92 and its two-hundred day moving average is C$47.96. The stock has a market cap of C$80.32 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.01 and a beta of 0.79. The company has a quick ratio of 2.58, a current ratio of 2.12 and a debt-to-equity ratio of 28.80.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its quarterly earnings results on Wednesday, February 11th. The financial services provider reported C$1.12 EPS for the quarter. The company had revenue of C$22.03 billion during the quarter. Manulife Financial had a net margin of 10.91% and a return on equity of 11.34%. Equities analysts forecast that Manulife Financial Co. will post 3.6104452 earnings per share for the current fiscal year.

Manulife Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Thursday, March 19th were paid a $0.485 dividend. The ex-dividend date was Wednesday, February 25th. This represents a $1.94 dividend on an annualized basis and a yield of 4.0%. Manulife Financial’s payout ratio is currently 57.33%.

Insider Buying and Selling at Manulife Financial

In other news, Director Adam Thomas Wise sold 3,500 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of C$46.47, for a total value of C$162,645.00. Following the sale, the director directly owned 2,497 shares in the company, valued at approximately C$116,035.59. This trade represents a 58.36% decrease in their position. Insiders own 0.03% of the company’s stock.

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.