Manulife Financial (TSE:MFC) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

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$39.14 and traded as high as C$43.87. Manulife Financial shares last traded at C$43.53, with a volume of 14,470,640 shares.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MFC. Jefferies Financial Group upped their target price on shares of Manulife Financial from C$42.00 to C$47.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Barclays raised their target price on Manulife Financial from C$39.00 to C$40.00 in a research report on Friday, November 22nd. CIBC boosted their price objective on Manulife Financial from C$42.00 to C$46.00 in a research note on Friday, November 8th. TD Securities raised their target price on shares of Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Cormark upped their price target on shares of Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$43.45.

Manulife Financial Trading Up 0.5 %

The company has a market cap of C$77.05 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 1.01 and a beta of 1.06. The business’s 50-day simple moving average is C$43.68 and its 200-day simple moving average is C$39.14. The company has a debt-to-equity ratio of 49.60, a current ratio of 36.68 and a quick ratio of 2.58.

Manulife Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, November 20th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, November 20th. This represents a $1.60 annualized dividend and a dividend yield of 3.68%. Manulife Financial’s payout ratio is 68.09%.

Insider Transactions at Manulife Financial

In other news, Director Brooks Tingle sold 3,866 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of C$46.07, for a total transaction of C$178,102.75. Also, Director Kenneth Michael Ross sold 4,243 shares of the business’s stock in a transaction that occurred 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. 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.