Manulife Financial (TSE:MFC) Stock Passes Above 200-Day Moving Average of $29.15

Manulife Financial Co. (TSE:MFC) (NYSE:MFC)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$29.15 and traded as high as C$32.24. Manulife Financial shares last traded at C$32.14, with a volume of 7,136,486 shares.

Wall Street Analysts Forecast Growth

MFC has been the subject of several analyst reports. TD Securities lowered shares of Manulife Financial from an “action list buy” rating to a “buy” rating and raised their target price for the stock from C$35.00 to C$37.00 in a report on Wednesday, February 21st. Scotiabank lifted their price objective on shares of Manulife Financial from C$35.00 to C$40.00 and gave the company an “outperform” rating in a report on Friday, February 16th. BMO Capital Markets lifted their price objective on shares of Manulife Financial from C$35.00 to C$40.00 in a report on Monday, April 8th. Cormark upgraded shares of Manulife Financial from a “market perform” rating to a “buy” rating and lifted their price objective for the company from C$33.00 to C$36.00 in a report on Friday, February 16th. Finally, Veritas Investment Research reiterated a “reduce” rating on shares of Manulife Financial in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$36.30.

Manulife Financial Stock Performance

The company has a debt-to-equity ratio of 45.69, a quick ratio of 2.58 and a current ratio of 3.79. The firm has a market cap of C$58.17 billion, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 12.56 and a beta of 1.09. The firm’s fifty day moving average price is C$32.58 and its 200 day moving average price is C$29.15.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its quarterly earnings results on Wednesday, February 14th. The financial services provider reported C$0.92 EPS for the quarter, beating the consensus estimate of C$0.84 by C$0.08. Manulife Financial had a net margin of 20.05% and a return on equity of 11.57%. The business had revenue of C$14.92 billion during the quarter, compared to analyst estimates of C$10.24 billion. Sell-side analysts expect that Manulife Financial Co. will post 3.6893764 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, February 28th were given a $0.40 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.98%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.37. Manulife Financial’s payout ratio is presently 61.30%.

Insider Transactions at Manulife Financial

In other news, Director Brooks Tingle sold 3,317 shares of Manulife Financial stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$108,664.92. In other news, Senior Officer Steve Finch sold 10,294 shares of Manulife Financial stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$337,231.44. Also, Director Brooks Tingle sold 3,317 shares of Manulife Financial stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total transaction of C$108,664.92. Insiders own 0.02% 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.