Manulife Financial (TSE:MFC) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$49.90 and traded as high as C$53.88. Manulife Financial shares last traded at C$53.80, with a volume of 7,238,898 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Desjardins set a C$58.00 target price on Manulife Financial and gave the stock a “buy” rating in a report on Friday, April 17th. Royal Bank Of Canada boosted their target price on Manulife Financial from C$52.00 to C$55.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. National Bank Financial boosted their target price on Manulife Financial from C$56.00 to C$59.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. TD Securities decreased their target price on Manulife Financial from C$60.00 to C$59.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Finally, Jefferies Financial Group boosted their target price on Manulife Financial from C$54.00 to C$58.00 in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Manulife Financial has a consensus rating of “Buy” and an average price target of C$57.00.

Manulife Financial Stock Performance

The business has a fifty day simple moving average of C$50.76 and a 200 day simple moving average of C$49.92. The stock has a market capitalization of C$88.89 billion, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 1.01 and a beta of 0.74.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its quarterly earnings data on Wednesday, May 13th. The financial services provider reported C$1.06 EPS for the quarter. Manulife Financial had a return on equity of 12.65% and a net margin of 11.97%.The firm had revenue of C$2.15 billion for the quarter. On average, sell-side analysts forecast that Manulife Financial Co. will post 3.6104452 earnings per share for the current fiscal year.

Manulife Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, March 19th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, February 25th. Manulife Financial’s dividend payout ratio is currently 57.33%.

Insider Transactions at Manulife Financial

In other news, Director Anthony Alex Silva acquired 2,334 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were purchased at an average cost of C$53.16 per share, with a total value of C$124,075.44. Following the acquisition, the director directly owned 8,175 shares in the company, valued at C$434,583. This represents a 39.96% increase in their position. Also, Director Aimee Decamillo sold 18,000 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of C$51.77, for a total value of C$931,860.00. Following the completion of the transaction, the director directly owned 4,996 shares in the company, valued at approximately C$258,642.92. This represents a 78.27% decrease in their ownership of the stock. In the last 90 days, insiders sold 73,834 shares of company stock valued at $3,906,579. Corporate insiders own 0.03% of the company’s stock.

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.