Manulife Financial (TSE:MFC) Share Price Passes Above 200 Day Moving Average – Here’s Why

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$40.57 and traded as high as C$44.09. Manulife Financial shares last traded at C$43.81, with a volume of 2,882,806 shares traded.

Analyst Ratings Changes

Several equities analysts have weighed in on MFC shares. Scotiabank raised their price objective on Manulife Financial from C$48.00 to C$49.00 in a research note on Friday, November 8th. Jefferies Financial Group raised their price objective on Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. TD Securities raised their price objective on Manulife Financial from C$45.00 to C$48.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Barclays lifted their target price on Manulife Financial from C$40.00 to C$47.00 in a research note on Monday, January 6th. Finally, CIBC lifted their target price on Manulife Financial from C$42.00 to C$46.00 in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$44.09.

Manulife Financial Stock Down 0.6 %

The company has a quick ratio of 2.58, a current ratio of 36.68 and a debt-to-equity ratio of 49.60. The stock has a market cap of C$77.54 billion, a P/E ratio of 18.64, a P/E/G ratio of 1.01 and a beta of 1.06. The company has a 50-day simple moving average of C$44.36 and a two-hundred day simple moving average of C$40.59.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its earnings results on Wednesday, November 6th. The financial services provider reported C$1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.95 by C$0.05. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%. During the same quarter in the previous year, the firm earned $0.92 EPS. On average, equities analysts forecast that Manulife Financial Co. will post 3.6104452 EPS for the current year.

Manulife Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th were paid a $0.40 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.65%. Manulife Financial’s dividend payout ratio is currently 68.09%.

Insider Transactions at Manulife Financial

In other news, Director Anthony Alex Silva sold 1,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of C$45.22, for a total transaction of C$45,218.70. Also, Director Kenneth Michael Ross sold 4,243 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of C$45.80, for a total value of C$194,315.82. Over the last three months, insiders have sold 77,771 shares of company stock valued at $3,508,584. Insiders own 0.03% 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.