Manulife Financial (TSE:MFC) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$55.00 and traded as high as C$60.81. Manulife Financial shares last traded at C$60.56, with a volume of 4,514,814 shares changing hands.

Wall Street Analysts Forecast Growth

MFC has been the topic of several recent research reports. Jefferies Financial Group raised their price target on Manulife Financial from C$61.00 to C$70.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Royal Bank Of Canada boosted their price objective 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. BMO Capital Markets upped their target price on shares of Manulife Financial from C$67.00 to C$70.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Barclays raised their target price on shares of Manulife Financial from C$56.00 to C$59.00 and gave the company an “equal weight” rating in a research note on Thursday, August 6th. Finally, Scotiabank lifted their price target on shares of Manulife Financial from C$56.00 to C$61.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, July 15th. One investment 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$66.00.

Manulife Financial Price Performance

The company has a debt-to-equity ratio of 26.52, a quick ratio of 2.58 and a current ratio of 2.36. The company has a 50-day moving average price of C$60.58 and a 200-day moving average price of C$55.08. The firm has a market capitalization of C$101.41 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 1.01 and a beta of 0.60.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported C$1.09 EPS for the quarter. Manulife Financial had a return on equity of 12.98% and a net margin of 11.62%.The business had revenue of C$20.34 billion during the quarter. On average, sell-side analysts predict that Manulife Financial Co. will post 3.6104452 earnings per share for the current year.

Manulife Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Monday, September 21st will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Friday, August 21st. Manulife Financial’s dividend payout ratio (DPR) is currently 50.14%.

Insiders Place Their Bets

In related news, insider Patrick David Graham sold 6,843 shares of Manulife Financial 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 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.