Manulife Financial (TSE:MFC) Stock Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Manulife Financial shares crossed above their 200-day moving average, trading at C$44.14 with a volume of nearly 2 million shares.
• Analysts have mixed reviews, with ratings ranging from "outperform" to "equal weight," and a consensus target price adjustment to C$47.75.
• The company declared a quarterly dividend of $0.44 per share, reflecting a 4.0% yield and a payout ratio of 54.19%.

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC's share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$42.57 and traded as high as C$44.19. Manulife Financial shares last traded at C$44.14, with a volume of 1,987,734 shares traded.

Analysts Set New Price Targets

Several analysts have recently commented on MFC shares. National Bankshares reduced their target price on Manulife Financial from C$48.00 to C$47.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Royal Bank Of Canada dropped their target price on shares of Manulife Financial from C$51.00 to C$49.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Finally, Barclays lifted their price target on shares of Manulife Financial from C$46.00 to C$47.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Manulife Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of C$47.75.

Manulife Financial Stock Performance

The business's 50-day moving average price is C$42.35 and its 200 day moving average price is C$42.54. The stock has a market capitalization of C$73.53 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 1.01 and a beta of 0.98.

Manulife Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 19th will be given a $0.44 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $1.76 annualized dividend and a yield of 4.1%. Manulife Financial's payout ratio is 54.19%.

Insider Transactions at Manulife Financial

In related news, insider Paul Lorentz sold 178,425 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of C$41.90, for a total value of C$7,476,007.50. Following the completion of the transaction, the insider directly owned 79,930 shares in the company, valued at approximately C$3,349,067. The trade was a 69.06% decrease in their ownership of the stock. Insiders have sold 179,582 shares of company stock valued at $7,516,321 in the last ninety days. 0.03% of the stock is currently owned by 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.