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

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$43.33 and traded as high as C$44.00. Manulife Financial shares last traded at C$43.92, with a volume of 16,224,474 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have commented on MFC shares. CIBC dropped their target price on Manulife Financial from C$48.00 to C$46.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Barclays reduced their target price on Manulife Financial from C$49.00 to C$45.00 in a report on Friday, April 11th. Jefferies Financial Group reduced their price target on shares of Manulife Financial from C$51.00 to C$46.00 in a research note on Monday, April 21st. Royal Bank of Canada set a C$51.00 price objective on shares of Manulife Financial and gave the company an "outperform" rating in a research report on Tuesday, April 15th. Finally, Scotiabank cut their target price on shares of Manulife Financial from C$53.00 to C$50.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$48.00.

Manulife Financial Trading Down 0.2%

The firm has a market cap of C$76.70 billion, a PE ratio of 13.61, a PEG ratio of 1.01 and a beta of 1.06. The firm's 50 day simple moving average is C$42.40 and its 200 day simple moving average is C$43.34.

Manulife Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 19th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Wednesday, May 21st. Manulife Financial's dividend payout ratio (DPR) is presently 49.79%.

Insider Transactions at Manulife Financial

In other news, Director Anthony Alex Silva bought 2,200 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were purchased at an average price of C$43.77 per share, for a total transaction of C$96,301.92. Also, Senior Officer Trevor Kreel sold 3,636 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of C$44.22, for a total value of C$160,781.74. In the last 90 days, insiders have sold 65,289 shares of company stock valued at $2,889,176. 0.03% of the stock is currently owned by corporate 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.