Manulife Financial (TSE:MFC) Stock Crosses Above 200 Day Moving Average of $31.88

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$31.88 and traded as high as C$35.25. Manulife Financial shares last traded at C$35.07, with a volume of 1,812,956 shares changing hands.

Wall Street Analyst Weigh In

MFC has been the topic of several recent research reports. TD Securities increased their price target on Manulife Financial from C$37.00 to C$38.00 and gave the company a “buy” rating in a report on Thursday, May 9th. National Bank Financial upgraded Manulife Financial from a “sector perform market weight” rating to an “outperform market weight” rating in a report on Wednesday, May 8th. BMO Capital Markets increased their target price on Manulife Financial from C$40.00 to C$41.00 in a research note on Friday, May 10th. CIBC increased their target price on Manulife Financial from C$34.00 to C$36.00 in a research note on Friday, May 10th. Finally, Evercore increased their target price on Manulife Financial from C$36.00 to C$37.00 in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Manulife Financial presently has a consensus rating of “Moderate Buy” and an average price target of C$37.30.

Manulife Financial Stock Up 0.1 %

The company has a current ratio of 29.14, a quick ratio of 2.58 and a debt-to-equity ratio of 48.44. The business has a 50-day moving average price of C$34.22 and a 200-day moving average price of C$31.88. The firm has a market cap of C$63.13 billion, a P/E ratio of 15.38, a P/E/G ratio of 12.56 and a beta of 1.10.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its quarterly earnings data on Wednesday, May 8th. The financial services provider reported C$0.94 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.90 by C$0.04. Manulife Financial had a return on equity of 10.48% and a net margin of 18.29%. The company had revenue of C$12.80 billion for the quarter, compared to the consensus estimate of C$12.13 billion. On average, equities analysts forecast that Manulife Financial Co. will post 3.6078629 EPS for the current fiscal year.

Manulife Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend was Tuesday, May 21st. Manulife Financial’s dividend payout ratio is presently 70.18%.

Insiders Place Their Bets

In other news, Director Philip James Witherington sold 97,640 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of C$35.17, for a total value of C$3,433,852.34. In related news, Director Philip James Witherington sold 97,640 shares of Manulife Financial stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of C$35.17, for a total transaction of C$3,433,852.34. Also, Director Rocco Gori sold 48,640 shares of Manulife Financial stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of C$35.25, for a total value of C$1,714,560.00. Over the last 90 days, insiders sold 157,878 shares of company stock valued at $5,557,706. 0.02% of the stock is currently 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.