Manulife Financial (TSE:MFC) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) crossed 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 changing hands.

Analyst Ratings Changes

MFC has been the subject of several analyst reports. Barclays raised their target price on Manulife Financial from C$39.00 to C$40.00 in a research note on Friday, November 22nd. TD Securities boosted their price objective on shares of Manulife Financial from C$45.00 to C$48.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. CIBC increased their target price on shares of Manulife Financial from C$42.00 to C$46.00 in a research note on Friday, November 8th. National Bankshares raised their price target on shares of Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. Finally, Scotiabank upped their price target on shares of Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$43.45.

Manulife Financial Stock Up 0.5 %

The stock has a market cap of C$77.05 billion, a P/E ratio of 18.52, a P/E/G ratio of 1.01 and a beta of 1.06. The company has a quick ratio of 2.58, a current ratio of 36.68 and a debt-to-equity ratio of 49.60. The company has a 50-day simple moving average of C$43.68 and a two-hundred day simple moving average of C$39.14.

Manulife Financial Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 3.68%. Manulife Financial’s dividend payout ratio is currently 68.09%.

Insider Transactions at Manulife Financial

In other Manulife Financial news, Director Kenneth Michael Ross sold 4,243 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of C$45.80, for a total value of C$194,315.82. Also, Senior Officer James D. Gallagher sold 57,064 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of C$44.80, for a total transaction of C$2,556,638.39. Over the last ninety days, insiders sold 77,771 shares of company stock worth $3,508,584. Company 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.