Manulife Financial (TSE:MFC) Shares Cross Above 200-Day Moving Average – Here’s Why

Manulife Financial Co. (TSE:MFC) (NYSE:MFC)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$49.90 and traded as high as C$53.88. Manulife Financial shares last traded at C$53.80, with a volume of 7,238,898 shares trading hands.

Analysts Set New Price Targets

Several research firms recently weighed in on MFC. Scotiabank lifted their target price on shares of Manulife Financial from C$55.00 to C$56.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Jefferies Financial Group lifted their target price on shares of Manulife Financial from C$54.00 to C$58.00 in a report on Monday, February 2nd. National Bank Financial lifted their target price on shares of Manulife Financial from C$56.00 to C$59.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. TD reduced their target price on shares of Manulife Financial from C$59.00 to C$58.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Finally, TD Securities reduced their target price on shares of Manulife Financial from C$60.00 to C$59.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$57.00.

Manulife Financial Stock Performance

The stock has a market cap of C$89.79 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 1.01 and a beta of 0.74. The business’s fifty day simple moving average is C$50.61 and its 200 day simple moving average is C$49.90.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its quarterly earnings data on Wednesday, May 13th. The financial services provider reported C$1.06 EPS for the quarter. Manulife Financial had a net margin of 11.97% and a return on equity of 12.65%. The firm had revenue of C$2.15 billion for the quarter. As a group, analysts forecast 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, March 19th. Stockholders of record on Thursday, March 19th were given a $0.485 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $1.94 annualized dividend and a dividend yield of 3.6%. Manulife Financial’s payout ratio is presently 57.33%.

Insider Buying and Selling at Manulife Financial

In other news, Director Adam Thomas Wise sold 3,500 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of C$46.47, for a total value of C$162,645.00. Following the completion of the sale, the director owned 2,497 shares of the company’s stock, valued at approximately C$116,035.59. The trade was a 58.36% decrease in their position. Insiders own 0.03% of the company’s stock.

About Manulife Financial

Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com. One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities.