Manulife Financial (TSE:MFC) Stock Price Crosses Above 200-Day Moving Average of $32.18

Manulife Financial Co. (TSE:MFC) (NYSE:MFC)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$32.18 and traded as high as C$36.30. Manulife Financial shares last traded at C$36.29, with a volume of 3,481,815 shares changing hands.

Analyst Ratings Changes

Several research firms have weighed in on MFC. National Bankshares upgraded Manulife Financial from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from C$34.00 to C$38.00 in a report on Thursday, May 9th. National Bank Financial upgraded shares of Manulife Financial from a “sector perform market weight” rating to an “outperform market weight” rating in a report on Wednesday, May 8th. CIBC raised their target price on shares of Manulife Financial from C$34.00 to C$36.00 in a research report on Friday, May 10th. TD Securities boosted their price target on shares of Manulife Financial from C$37.00 to C$38.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Finally, Evercore raised their price objective on shares of Manulife Financial from C$36.00 to C$37.00 in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$37.30.

Manulife Financial Stock Performance

The business’s 50 day simple moving average is C$34.60 and its two-hundred day simple moving average is C$32.18. The firm has a market capitalization of C$65.32 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 12.56 and a beta of 1.10. The company has a current ratio of 29.14, a quick ratio of 2.58 and a debt-to-equity ratio of 48.44.

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

Manulife Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.41%. The ex-dividend date was Tuesday, May 21st. Manulife Financial’s dividend payout ratio is presently 70.18%.

Insider Activity

In other Manulife Financial news, Senior Officer Steve Finch sold 11,598 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of C$35.29, for a total value of C$409,293.42. In other news, Director Rocco Gori sold 48,640 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of C$35.25, for a total transaction of C$1,714,560.00. Also, Senior Officer Steve Finch sold 11,598 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of C$35.29, for a total transaction of C$409,293.42. Insiders sold a total of 157,878 shares of company stock valued at $5,557,706 in the last 90 days. Company insiders own 0.02% 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.