Manulife Financial (TSE:MFC) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$40.57 and traded as high as C$44.09. Manulife Financial shares last traded at C$43.81, with a volume of 2,882,806 shares.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MFC shares. National Bankshares boosted their price objective on Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. Scotiabank upped their target price on Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. TD Securities upped their target price on Manulife Financial from C$45.00 to C$48.00 and gave the company a “buy” rating in a report on Thursday, November 7th. CIBC upped their target price on Manulife Financial from C$42.00 to C$46.00 in a report on Friday, November 8th. Finally, Jefferies Financial Group upped their target price on Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$44.09.

Manulife Financial Trading Down 0.6 %

The firm has a market cap of C$77.54 billion, a P/E ratio of 18.64, a PEG ratio of 1.01 and a beta of 1.06. The company has a 50 day moving average of C$44.41 and a 200 day moving average of C$40.57. The company has a debt-to-equity ratio of 49.60, a quick ratio of 2.58 and a current ratio of 36.68.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported C$1.00 EPS for the quarter, beating the consensus estimate of C$0.95 by C$0.05. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%. During the same period in the previous year, the business posted $0.92 earnings per share. Analysts predict that Manulife Financial Co. will post 3.6104452 EPS for the current fiscal year.

Manulife Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.60 dividend on an annualized basis and a yield of 3.65%. Manulife Financial’s payout ratio is currently 68.09%.

Insiders Place Their Bets

In other news, Director Kenneth Michael Ross sold 4,243 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of C$45.80, for a total value of C$194,315.82. Also, Senior Officer Steve Finch sold 11,598 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of C$46.07, for a total value of C$534,308.26. Insiders sold 77,771 shares of company stock valued at $3,508,584 over the last 90 days. 0.03% of the stock is currently owned by company insiders.

Manulife Financial Company Profile

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.