Manulife Financial (TSE:MFC) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$39.52 and traded as high as C$44.25. Manulife Financial shares last traded at C$44.01, with a volume of 5,040,940 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MFC shares. TD Securities boosted their price target on shares of Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group increased their target price on shares of Manulife Financial from C$42.00 to C$47.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Scotiabank boosted their price target on Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. Cormark increased their price objective on Manulife Financial from C$47.00 to C$48.00 in a report on Thursday, November 21st. Finally, National Bankshares boosted their target price on Manulife Financial from C$45.00 to C$47.00 in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$43.45.

Manulife Financial Price Performance

The firm has a 50-day moving average of C$43.94 and a 200 day moving average of C$39.52. The company has a debt-to-equity ratio of 49.60, a current ratio of 36.68 and a quick ratio of 2.58. The company has a market capitalization of C$77.90 billion, a PE ratio of 18.73, a PEG ratio of 1.01 and a beta of 1.06.

Manulife Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, November 20th. This represents a $1.60 annualized dividend and a dividend yield of 3.64%. Manulife Financial’s payout ratio is 68.09%.

Insider Activity at Manulife Financial

In other Manulife Financial news, Senior Officer James D. Gallagher sold 57,064 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of C$44.80, for a total transaction of C$2,556,638.39. Also, Director Brooks Tingle sold 3,866 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of C$46.07, for a total transaction of C$178,102.75. Insiders have sold a total of 77,771 shares of company stock worth $3,508,584 over the last quarter. Company insiders own 0.03% 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.