Manulife Financial (TSE:MFC) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Manulife Financial Co. (TSE:MFC) (NYSE:MFC)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Royal Bank of Canada boosted their target price on shares of Manulife Financial from C$38.00 to C$39.00 in a research note on Friday, August 9th. Scotiabank boosted their price objective on shares of Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, August 9th. TD Securities upped their price objective on Manulife Financial from C$40.00 to C$41.00 in a report on Friday, July 12th. National Bankshares lifted their target price on Manulife Financial from C$38.00 to C$43.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$39.64.

Manulife Financial Trading Down 0.3 %

The company has a market capitalization of C$73.30 billion, a P/E ratio of 17.64, a PEG ratio of 1.01 and a beta of 1.06. The business has a 50 day moving average price of C$38.82 and a 200 day moving average price of C$36.25. 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 (TSE:MFC) (NYSE:MFC) last issued its earnings results on Wednesday, August 7th. The financial services provider reported C$0.91 EPS 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 the consensus estimate of C$12.27 billion. Analysts anticipate that Manulife Financial Co. will post 3.6104452 EPS for the current year.

Manulife Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend was Wednesday, August 21st. Manulife Financial’s dividend payout ratio (DPR) is presently 68.09%.

Insider Buying and Selling

In related news, Director Tin Ku sold 2,166 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the sale, the director now directly owns 253 shares in the company, valued at C$9,474.85. This trade represents a 0.00 % decrease in their ownership of the stock. In other news, Director Tin Ku sold 2,166 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the completion of the transaction, the director now directly owns 253 shares of the company’s stock, valued at C$9,474.85. This represents a 0.00 % decrease in their ownership of the stock. Also, Senior Officer Steve Finch sold 11,599 shares of Manulife Financial stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of C$35.73, for a total value of C$414,439.23. In the last three months, insiders sold 68,821 shares of company stock valued at $2,455,596. 0.03% of the stock is owned by corporate 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.