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

Manulife Financial Co. (NYSE:MFC) (TSE:MFC)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $28.69 and traded as high as $30.82. Manulife Financial shares last traded at $30.63, with a volume of 1,327,609 shares.

Analyst Ratings Changes

Separately, Barclays started coverage on Manulife Financial in a report on Thursday, September 5th. They set an “equal weight” rating on the stock. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Manulife Financial has a consensus rating of “Buy” and an average target price of $37.50.

Manulife Financial Price Performance

The firm has a fifty day simple moving average of $31.26 and a 200 day simple moving average of $28.69. The company has a market capitalization of $53.33 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The company had revenue of $10.69 billion for the quarter, compared to analyst estimates of $9.73 billion. During the same period last year, the company earned $0.69 earnings per share. Research analysts predict that Manulife Financial Co. will post 2.72 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th were issued a $0.296 dividend. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend was Wednesday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is presently 57.00%.

Institutional Trading of Manulife Financial

Institutional investors have recently made changes to their positions in the company. DGS Capital Management LLC lifted its holdings in Manulife Financial by 4.0% in the 3rd quarter. DGS Capital Management LLC now owns 51,994 shares of the financial services provider’s stock valued at $1,536,000 after purchasing an additional 2,022 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Manulife Financial by 16.4% in the third quarter. Franklin Resources Inc. now owns 1,988,200 shares of the financial services provider’s stock worth $61,426,000 after buying an additional 279,418 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Manulife Financial during the third quarter worth about $119,000. World Investment Advisors LLC grew its stake in Manulife Financial by 30.1% during the 3rd quarter. World Investment Advisors LLC now owns 12,351 shares of the financial services provider’s stock valued at $365,000 after acquiring an additional 2,860 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its holdings in Manulife Financial by 148.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 73,346 shares of the financial services provider’s stock valued at $2,382,000 after acquiring an additional 43,877 shares during the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

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.