Manulife Financial (TSE:MFC) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$36.25 and traded as high as C$41.63. Manulife Financial shares last traded at C$41.56, with a volume of 5,196,931 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MFC shares. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. National Bankshares raised their price target on shares of Manulife Financial from C$38.00 to C$43.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Barclays set a C$39.00 price objective on shares of Manulife Financial and gave the stock an “equal weight” rating in a report on Thursday, September 5th. Jefferies Financial Group raised their target price on Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Royal Bank of Canada upped their price target on Manulife Financial from C$38.00 to C$39.00 in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$39.64.

Manulife Financial Stock Performance

The stock has a 50-day moving average of C$38.82 and a 200 day moving average of C$36.25. The firm has a market capitalization of C$73.56 billion, a P/E ratio of 17.69, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The company has a debt-to-equity ratio of 49.60, a quick ratio of 2.58 and a current ratio of 36.68.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported C$0.91 earnings per share for the quarter, beating the consensus estimate of C$0.88 by C$0.03. Manulife Financial had a net margin of 17.34% and a return on equity of 10.41%. The firm had revenue of C$12.88 billion during the quarter, compared to analysts’ expectations of C$12.27 billion. On average, research analysts anticipate that Manulife Financial Co. will post 3.6104452 earnings per share for the current year.

Manulife Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 21st were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date was Wednesday, August 21st. Manulife Financial’s dividend payout ratio (DPR) is 68.09%.

Insider Activity at Manulife Financial

In other news, Director Matthew Lyman Macinnis sold 6,708 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of C$34.67, for a total value of C$232,566.36. In related news, Director Matthew Lyman Macinnis sold 6,708 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of C$34.67, for a total transaction of C$232,566.36. Also, Director Rocco Gori sold 48,345 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of C$35.73, for a total transaction of C$1,727,395.86. Insiders have sold 68,821 shares of company stock worth $2,455,596 over the last ninety days. Company insiders own 0.03% of the company’s stock.

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.