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

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$42.67 and traded as high as C$44.93. Manulife Financial shares last traded at C$44.92, with a volume of 8,990,600 shares trading hands.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Jefferies Financial Group upped their price objective on Manulife Financial from C$50.00 to C$51.00 in a research report on Thursday, January 30th. CIBC raised their price objective on Manulife Financial from C$47.00 to C$48.00 in a report on Friday, February 21st. TD Securities upped their target price on Manulife Financial from C$48.00 to C$49.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Barclays lifted their price target on Manulife Financial from C$40.00 to C$47.00 in a research note on Monday, January 6th. Two 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. Based on data from MarketBeat, Manulife Financial presently has an average rating of “Moderate Buy” and an average target price of C$45.60.

Manulife Financial Stock Performance

The business has a 50 day moving average of C$43.22 and a two-hundred day moving average of C$42.72. The firm has a market capitalization of C$77.97 billion, a price-to-earnings ratio of 13.83, a P/E/G ratio of 1.01 and a beta of 1.06.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 19th were issued a dividend of $0.44 per share. This is an increase from Manulife Financial’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.76 annualized dividend and a yield of 3.96%. Manulife Financial’s dividend payout ratio is presently 49.79%.

Insider Activity

In other news, Director Brooks Tingle sold 3,866 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of C$43.43, for a total value of C$167,882.21. Also, Senior Officer Steve Finch sold 11,598 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of C$43.43, for a total transaction of C$503,646.63. Insiders sold 18,683 shares of company stock worth $816,102 over the last three months. 0.03% of the stock is currently owned by insiders.

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.