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

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$40.13 and traded as high as C$42.93. Manulife Financial shares last traded at C$42.53, with a volume of 3,653,835 shares traded.

Analysts Set New Price Targets

MFC has been the topic of a number of recent research reports. National Bankshares upped their price target on shares of Manulife Financial from C$45.00 to C$47.00 in a research note on Thursday, November 7th. Cormark increased their target price on Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. Scotiabank raised their price target on Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. Jefferies Financial Group boosted their price objective on Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, CIBC raised their target price on Manulife Financial from C$42.00 to C$46.00 in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Manulife Financial has an average rating of “Moderate Buy” and an average target price of C$44.09.

Manulife Financial Trading Down 1.1 %

The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60. The stock has a market cap of C$75.28 billion, a PE ratio of 18.10, a PEG ratio of 1.01 and a beta of 1.06. The firm has a fifty day simple moving average of C$44.40 and a two-hundred day simple moving average of C$40.13.

Manulife Financial Dividend Announcement

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 was Wednesday, November 20th. This represents a $1.60 annualized dividend and a yield of 3.76%. Manulife Financial’s payout ratio is presently 68.09%.

Insiders Place Their Bets

In other news, Director Brooks Tingle sold 3,866 shares of the business’s 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$178,102.75. Also, Director Kenneth Michael Ross sold 4,243 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of C$45.80, for a total transaction of C$194,315.82. Insiders sold a total of 77,771 shares of company stock valued at $3,508,584 in the last quarter. Corporate insiders own 0.03% of the company’s stock.

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.