Manulife Financial (TSE:MFC) Shares Cross Above 200-Day Moving Average – Should You Sell?

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$56.85 and traded as high as C$60.73. Manulife Financial shares last traded at C$60.55, with a volume of 1,863,971 shares trading hands.

Wall Street Analysts Forecast Growth

MFC has been the subject of several recent research reports. Canadian Imperial Bank of Commerce increased their price target on Manulife Financial from C$61.00 to C$69.00 in a report on Wednesday, July 15th. Royal Bank Of Canada boosted their target price on Manulife Financial from C$55.00 to C$67.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Scotiabank raised their target price on Manulife Financial from C$56.00 to C$61.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 15th. Barclays lifted their target price on Manulife Financial from C$56.00 to C$59.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 6th. Finally, Jefferies Financial Group increased their price objective on shares of Manulife Financial from C$61.00 to C$70.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of C$66.00.

Manulife Financial Stock Performance

The firm’s 50-day moving average price is C$60.85 and its two-hundred day moving average price is C$56.85. The company has a quick ratio of 2.58, a current ratio of 2.36 and a debt-to-equity ratio of 26.52. The firm has a market capitalization of C$100.17 billion, a PE ratio of 16.41, a P/E/G ratio of 1.01 and a beta of 0.59.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported C$1.09 earnings per share (EPS) for the quarter. Manulife Financial had a return on equity of 12.98% and a net margin of 11.62%. The firm had revenue of C$20.34 billion during the quarter. As a group, research analysts predict that Manulife Financial Co. will post 3.61 earnings per share for the current fiscal year.

Manulife Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 21st. Stockholders of record on Monday, September 21st were given a dividend of $0.4850 per share. The ex-dividend date was Friday, August 21st. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.2%. Manulife Financial’s payout ratio is presently 50.14%.

Insider Activity

In related news, insider Patrick David Graham sold 6,843 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of C$62.06, for a total transaction of C$424,676.58. 0.03% of the stock is owned by corporate insiders.

About Manulife Financial

Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com. One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities.