Manulife Financial (TSE:MFC) Stock Crosses Above 200 Day Moving Average - What's Next?

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC's stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$42.80 and traded as high as C$43.61. Manulife Financial shares last traded at C$43.35, with a volume of 4,656,417 shares.

Wall Street Analyst Weigh In

MFC has been the topic of several recent research reports. CIBC decreased their price target on shares of Manulife Financial from C$48.00 to C$46.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Royal Bank Of Canada set a C$51.00 price objective 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 objective on shares of Manulife Financial from C$49.00 to C$48.00 in a research report on Friday, July 11th. Scotiabank decreased 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 note on Thursday, May 1st. Finally, Jefferies Financial Group reduced their price objective on shares of Manulife Financial from C$51.00 to C$46.00 in a research note on Monday, April 21st. Two equities research 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$47.88.

Manulife Financial Trading Down 2.0%

The firm's fifty day moving average price is C$42.88 and its 200-day moving average price is C$42.80. The company has a market cap of C$73.70 billion, a P/E ratio of 13.08, a P/E/G ratio of 1.01 and a beta of 1.06.

Manulife Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Thursday, June 19th were paid a $0.44 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $1.76 dividend on an annualized basis and a yield of 4.2%. Manulife Financial's payout ratio is presently 49.79%.

Insiders Place Their Bets

In related news, Senior Officer Trevor Kreel sold 3,636 shares of the company'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. Also, Director Brooks Tingle sold 5,545 shares of the company's 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$245,196.57. Insiders have sold a total of 62,070 shares of company stock valued at $2,744,604 over the last 90 days. Company insiders own 0.03% of the company's stock.

About Manulife Financial

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.