Manulife Financial (TSE:MFC) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 trading hands.

Wall Street Analysts Forecast Growth

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

Manulife Financial Price Performance

The business has a 50-day moving average of C$43.18 and a two-hundred day moving average of C$42.67. The company has a market cap of C$78.79 billion, a P/E ratio of 13.98, a P/E/G ratio of 1.01 and a beta of 1.06.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 19th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.76 annualized dividend and a dividend yield of 3.92%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.40. Manulife Financial’s dividend payout ratio is 49.79%.

Insiders Place Their Bets

In related news, Director Kenneth Michael Ross sold 3,219 shares of the business’s 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. Also, Director Brooks Tingle sold 3,866 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of C$43.43, for a total transaction of C$167,882.21. In the last 90 days, insiders sold 18,683 shares of company stock valued at $816,102. 0.03% of the stock is owned by company insiders.

About Manulife Financial

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.