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

Manulife Financial Co. (TSE:MFC) (NYSE: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 C$41.32 and traded as high as C$42.11. Manulife Financial shares last traded at C$42.07, with a volume of 6,495,537 shares.

Analyst Ratings Changes

MFC has been the topic of a number of research reports. Barclays upped their price objective on Manulife Financial from C$40.00 to C$47.00 in a report on Monday, January 6th. Scotiabank lifted their target price on shares of Manulife Financial from C$48.00 to C$49.00 in a research note on Friday, November 8th. CIBC lifted their price objective on shares of Manulife Financial from C$46.00 to C$47.00 in a report on Thursday, January 30th. Jefferies Financial Group raised their price target on shares of Manulife Financial from C$50.00 to C$51.00 in a research note on Thursday, January 30th. Finally, National Bankshares upped their price target on shares of Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Manulife Financial has an average rating of “Moderate Buy” and a consensus target price of C$45.40.

Manulife Financial Stock Down 0.6 %

The stock has a market capitalization of C$74.23 billion, a P/E ratio of 13.17, a P/E/G ratio of 1.01 and a beta of 1.06. The stock’s 50 day moving average price is C$43.55 and its 200-day moving average price is C$41.40.

Manulife Financial Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.38%. Manulife Financial’s dividend payout ratio (DPR) is 49.79%.

Insider Transactions at Manulife Financial

In other Manulife Financial news, Director Kenneth Michael Ross sold 4,243 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of C$45.80, for a total transaction of C$194,315.82. Also, Director Anthony Alex Silva sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of C$45.22, for a total transaction of C$45,218.70. Insiders have sold a total of 62,307 shares of company stock valued at $2,796,173 in the last ninety days. 0.03% of the stock is currently owned by corporate 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.