Manulife Financial (TSE:MFC) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) shares crossed below its 50 day moving average during trading on Friday. The stock has a 50 day moving average of C$61.46 and traded as low as C$60.40. Manulife Financial shares last traded at C$61.00, with a volume of 8,202,669 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have commented on MFC shares. Jefferies Financial Group boosted their target price on shares of Manulife Financial from C$61.00 to C$70.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Scotiabank lowered Manulife Financial from a “sector outperform” rating to a “hold” rating and set a C$67.00 price objective for the company. in a research note on Wednesday, October 28th. TD increased their price objective on shares of Manulife Financial from C$69.00 to C$72.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays upped their target price on Manulife Financial from C$56.00 to C$59.00 and gave the company an “equal weight” rating in a research report on Thursday, August 6th. Finally, National Bank Financial upped their target price on shares of Manulife Financial from C$68.00 to C$69.00 and gave the company an “outperform” rating in a report on Thursday. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Manulife Financial presently has a consensus rating of “Moderate Buy” and an average price target of C$67.00.

Manulife Financial Stock Performance

The company has a quick ratio of 2.58, a current ratio of 2.36 and a debt-to-equity ratio of 26.52. The company has a 50 day simple moving average of C$61.46 and a 200 day simple moving average of C$55.82. The stock has a market cap of C$100.77 billion, a price-to-earnings ratio of 16.53, a P/E/G ratio of 1.01 and a beta of 0.53.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its earnings results on Wednesday, August 5th. The financial services provider reported C$1.09 earnings per share (EPS) for the quarter. Manulife Financial had a net margin of 11.62% and a return on equity of 12.98%. The business had revenue of C$20.34 billion for the quarter. As a group, equities research analysts forecast that Manulife Financial Co. will post 3.61 EPS for the current year.

Manulife Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 21st. Stockholders of record on Monday, September 21st were given a dividend of $0.4850 per share. The ex-dividend date was Friday, August 21st. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.2%. Manulife Financial’s dividend payout ratio (DPR) is 50.14%.

Insider Activity at Manulife Financial

In other Manulife Financial news, insider Patrick David Graham sold 6,843 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of C$62.06, for a total value of C$424,676.58. 0.03% of the stock is owned by insiders.

Manulife Financial Company Profile

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.