Manulife Financial (TSE:MFC) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Manulife Financial Co. (TSE:MFC) (NYSE:MFC)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$40.13 and traded as high as C$42.93. Manulife Financial shares last traded at C$42.53, with a volume of 3,653,835 shares traded.

Wall Street Analysts Forecast Growth

MFC has been the subject of several research reports. CIBC increased their target price on shares of Manulife Financial from C$42.00 to C$46.00 in a research note on Friday, November 8th. National Bankshares lifted their price objective on Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. Barclays boosted their price target on shares of Manulife Financial from C$40.00 to C$47.00 in a report on Monday, January 6th. Jefferies Financial Group lifted their target price on shares of Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Scotiabank upped their target price on shares of Manulife Financial from C$48.00 to C$49.00 in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$44.09.

Manulife Financial Stock Up 2.8 %

The firm has a fifty day moving average price of C$44.43 and a 200 day moving average price of C$40.18. The firm has a market capitalization of C$77.84 billion, a price-to-earnings ratio of 18.71, a P/E/G ratio of 1.01 and a beta of 1.06. The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60.

Manulife Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Wednesday, November 20th. Manulife Financial’s payout ratio is presently 68.09%.

Insider Activity at Manulife Financial

In other news, Director Kenneth Michael Ross sold 4,243 shares of Manulife Financial stock in a transaction on Monday, December 2nd. The stock was sold at an average price of C$45.80, for a total value of C$194,315.82. Also, Senior Officer Steve Finch sold 11,598 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of C$46.07, for a total value of C$534,308.26. Insiders sold 77,771 shares of company stock valued at $3,508,584 over the last ninety days. 0.03% of the stock is owned by 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.