Manulife Financial (TSE:MFC) Shares Cross Above 200 Day Moving Average - Here's Why

Shares of Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$52.89 and traded as high as C$62.97. Manulife Financial shares last traded at C$62.26, with a volume of 3,900,870 shares.

Analysts Set New Price Targets

Several equities analysts have weighed in on MFC shares. Jefferies Financial Group increased their price objective 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. Desjardins set a C$58.00 price objective on Manulife Financial and gave the stock a "buy" rating in a report on Friday, April 17th. Canadian Imperial Bank of Commerce increased their target price on shares of Manulife Financial from C$61.00 to C$69.00 in a research report on Wednesday, July 15th. TD boosted their price target on shares of Manulife Financial from C$58.00 to C$65.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. Finally, National Bank Financial lifted their price objective on shares of Manulife Financial from C$59.00 to C$69.00 and gave the company an "outperform" rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Manulife Financial presently has an average rating of "Buy" and an average target price of C$62.00.

Manulife Financial Price Performance

The firm's 50 day moving average price is C$57.50 and its 200 day moving average price is C$52.89. The stock has a market capitalization of C$103.47 billion, a P/E ratio of 17.94, a P/E/G ratio of 1.01 and a beta of 0.71.

Manulife Financial (TSE:MFC - Get Free Report) 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 net margin of 11.97% and a return on equity of 12.60%. The business had revenue of C$2.15 billion during the quarter. On average, equities research analysts forecast that Manulife Financial Co. will post 3.6104452 earnings per share for the current year.

Insider Activity

In related news, Director Anthony Alex Silva sold 1,100 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of C$53.17, for a total transaction of C$58,487.00. Following the completion of the sale, the director owned 7,075 shares of the company's stock, valued at C$376,177.75. This trade represents a 13.46% decrease in their ownership of the stock. Also, insider Rahul Madhav Joshi sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of C$54.29, for a total transaction of C$1,357,250.00. Following the sale, the insider directly owned 77,185 shares of the company's stock, valued at C$4,190,373.65. This trade represents a 24.47% decrease in their position. Over the last 90 days, insiders sold 136,834 shares of company stock valued at $7,311,659. Company 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.

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