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

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) 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 traded.

Analysts Set New Price Targets

A number of research analysts have weighed in on MFC shares. CIBC boosted their target price on shares of Manulife Financial from C$47.00 to C$48.00 in a research note on Friday, February 21st. Barclays increased their price objective on Manulife Financial from C$40.00 to C$47.00 in a report on Monday, January 6th. TD Securities upped their price target on Manulife Financial from C$48.00 to C$49.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Jefferies Financial Group lifted their price objective on Manulife Financial from C$50.00 to C$51.00 in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Manulife Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of C$45.60.

Manulife Financial Price Performance

The firm’s 50 day moving average is C$43.22 and its 200 day moving average is C$42.72. The company has a market cap of C$77.97 billion, a PE ratio of 13.83, a PEG ratio of 1.01 and a beta of 1.06.

Manulife Financial Increases Dividend

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

Insider Buying and Selling

In other Manulife Financial news, Senior Officer Steve Finch sold 11,598 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of C$43.43, for a total value of C$503,646.63. Also, Director Kenneth Michael Ross sold 3,219 shares of Manulife Financial stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of C$44.91, for a total transaction of C$144,572.68. Over the last quarter, insiders have sold 18,683 shares of company stock worth $816,102. Corporate 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.