Manulife Financial (TSE:MFC) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$43.23 and traded as high as C$43.75. Manulife Financial shares last traded at C$43.74, with a volume of 10,095,095 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. CIBC lowered their price target on shares of Manulife Financial from C$48.00 to C$46.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Royal Bank of Canada set a C$51.00 price target on shares of Manulife Financial and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. National Bankshares lowered their price target on shares of Manulife Financial from C$50.00 to C$49.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. TD Securities increased their target price on shares of Manulife Financial from C$48.00 to C$49.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Finally, Jefferies Financial Group decreased their target price on shares of Manulife Financial from C$51.00 to C$46.00 in a research report on Monday, April 21st. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Manulife Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of C$48.00.

Manulife Financial Stock Up 0.1%

The company has a market cap of C$74.33 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The company's 50-day moving average is C$42.61 and its 200 day moving average is C$43.17.

Manulife Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 19th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $1.76 annualized dividend and a yield of 4.15%. Manulife Financial's dividend payout ratio is presently 49.79%.

Insider Activity at Manulife Financial

In related news, Director Ka Ming (Kenneth) Dai sold 1,073 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of C$42.96, for a total transaction of C$46,091.79. Also, Senior Officer Trevor Kreel sold 3,636 shares of Manulife Financial stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of C$44.22, for a total transaction of C$160,781.74. Over the last quarter, insiders have sold 62,070 shares of company stock worth $2,744,604. 0.03% of the stock is owned by company insiders.

Manulife Financial Company Profile

Manulife provides life insurance and wealth management products and services to individuals and group customers in Canada, the United States, and Asia. Manulife is one of Canada's Big Three Life Insurance companies (the other two are Sun Life and Great West Life). As of Dec. 31, 2021, Manulife reported assets under management or administration of about CAD $1.4 trillion.