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Manulife Financial (TSE:MFC) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Manulife Financial logo with Financial Services background

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$43.27 and traded as high as C$44.12. Manulife Financial shares last traded at C$43.73, with a volume of 7,454,959 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MFC shares. Scotiabank decreased their price target on shares of Manulife Financial from C$53.00 to C$50.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Barclays cut their price objective on shares of Manulife Financial from C$49.00 to C$45.00 in a research report on Friday, April 11th. TD Securities raised 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 report on Thursday, February 20th. CIBC dropped their target price 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. Finally, National Bankshares reduced their price target on shares of Manulife Financial from C$50.00 to C$49.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Manulife Financial has an average rating of "Moderate Buy" and a consensus price target of C$48.00.

View Our Latest Research Report on MFC

Manulife Financial Stock Performance

The firm's fifty day moving average is C$42.32 and its 200-day moving average is C$43.27. The company has a market capitalization of C$77.91 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06.

Manulife Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 19th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Wednesday, May 21st. Manulife Financial's payout ratio is 49.79%.

Insider Activity at Manulife Financial

In other news, Director Ka Ming (Kenneth) Dai sold 1,067 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of C$44.80, for a total value of C$47,801.60. Also, Senior Officer Rahim Hirji sold 17,849 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of C$44.22, for a total value of C$789,272.07. Insiders have sold a total of 62,070 shares of company stock valued at $2,744,604 in the last 90 days. 0.03% of the stock is owned by corporate insiders.

Manulife Financial Company Profile

(Get Free Report)

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.

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