Manulife Financial (TSE:MFC) Share Price Passes Above 200 Day Moving Average – Here’s Why

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$40.57 and traded as high as C$44.09. Manulife Financial shares last traded at C$43.81, with a volume of 2,882,806 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MFC shares. National Bankshares upped their price target on Manulife Financial from C$45.00 to C$47.00 in a research report on Thursday, November 7th. Cormark upped their price target on Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. Jefferies Financial Group increased their target price on Manulife Financial from C$42.00 to C$47.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Barclays increased their target price on Manulife Financial from C$40.00 to C$47.00 in a research report on Monday, January 6th. Finally, Scotiabank increased their target price on Manulife Financial from C$48.00 to C$49.00 in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$44.09.

Manulife Financial Price Performance

The firm has a market cap of C$77.54 billion, a PE ratio of 18.64, a PEG ratio of 1.01 and a beta of 1.06. The firm has a fifty day simple moving average of C$44.36 and a two-hundred day simple moving average of C$40.59. 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 released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported C$1.00 earnings per share for the quarter, beating the consensus estimate of C$0.95 by C$0.05. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%. During the same quarter in the previous year, the firm posted $0.92 earnings per share. Equities analysts predict that Manulife Financial Co. will post 3.6104452 EPS for the current fiscal year.

Manulife Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.65%. The ex-dividend date was Wednesday, November 20th. Manulife Financial’s payout ratio is 68.09%.

Insider Activity

In related news, Director Anthony Alex Silva sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of C$45.22, for a total transaction of C$45,218.70. Also, Senior Officer James D. Gallagher sold 57,064 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of C$44.80, for a total value of C$2,556,638.39. Insiders sold 77,771 shares of company stock valued at $3,508,584 in the last ninety days. 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.