Manulife Financial (TSE:MFC) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Manulife Financial Co. (TSE:MFC) (NYSE:MFC)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$47.96 and traded as high as C$48.02. Manulife Financial shares last traded at C$47.92, with a volume of 6,663,322 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MFC. Scotiabank upped their price objective on Manulife Financial from C$55.00 to C$56.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Jefferies Financial Group boosted their price target on Manulife Financial from C$54.00 to C$58.00 in a report on Monday, February 2nd. Canadian Imperial Bank of Commerce upgraded Manulife Financial from a “hold” rating to an “outperform” rating and upped their price target for the stock from C$50.00 to C$58.00 in a research report on Thursday, January 8th. Barclays raised their price objective on Manulife Financial from C$49.00 to C$52.00 in a research note on Friday, January 9th. Finally, Desjardins set a C$55.00 price objective on Manulife Financial and gave the company a “buy” rating in a research report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Manulife Financial presently has a consensus rating of “Buy” and an average price target of C$55.63.

Manulife Financial Stock Up 0.5%

The company has a current ratio of 2.12, a quick ratio of 2.58 and a debt-to-equity ratio of 28.80. The company has a 50 day simple moving average of C$48.86 and a two-hundred day simple moving average of C$47.97. The firm has a market capitalization of C$81.41 billion, a P/E ratio of 15.82, a P/E/G ratio of 1.01 and a beta of 0.79.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings data on Wednesday, February 11th. The financial services provider reported C$1.12 EPS for the quarter. Manulife Financial had a net margin of 10.91% and a return on equity of 11.34%. The business had revenue of C$22.03 billion during the quarter. On average, equities analysts predict that Manulife Financial Co. will post 3.6104452 EPS for the current fiscal year.

Manulife Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, March 19th were given a dividend of $0.485 per share. The ex-dividend date was Wednesday, February 25th. This represents a $1.94 dividend on an annualized basis and a yield of 4.0%. Manulife Financial’s dividend payout ratio is 57.33%.

Insider Activity

In other news, Director Adam Thomas Wise sold 3,500 shares of Manulife Financial stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of C$46.47, for a total value of C$162,645.00. Following the completion of the transaction, the director owned 2,497 shares in the company, valued at approximately C$116,035.59. The trade was a 58.36% decrease in their position. 0.03% of the stock is owned by insiders.

Manulife Financial Company Profile

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.