Manulife Financial (TSE:MFC) Stock Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• Technical breakout: Manulife's stock passed above its 200-day moving average (200-day = C$48.16), trading as high as C$50.58 and last at C$50.47 on volume of about 3.99 million shares.
• Analyst sentiment is positive: The consensus rating is "Buy" (one Strong Buy, six Buy, one Hold) with an average price target of C$55.63 after several firms raised targets recently.
• Fundamentals and shareholder return: market cap C$84.6B, P/E 16.44, last-quarter EPS C$1.12, and a quarterly dividend of C$0.485 (C$1.94 annualized) for a yield of 3.8% and a payout ratio of 57.33%.

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC's stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$48.16 and traded as high as C$50.58. Manulife Financial shares last traded at C$50.47, with a volume of 3,985,972 shares.

Analysts Set New Price Targets

MFC has been the subject of several research analyst reports. Royal Bank Of Canada raised their price objective on Manulife Financial from C$52.00 to C$55.00 and gave the stock an "outperform" rating in a research note on Friday, February 13th. TD Securities reduced their price objective on Manulife Financial from C$60.00 to C$59.00 and set a "buy" rating for the company in a research note on Thursday, February 12th. Canadian Imperial Bank of Commerce upgraded Manulife Financial from a "hold" rating to an "outperform" rating and raised their price objective for the stock from C$50.00 to C$58.00 in a research note on Thursday, January 8th. Desjardins set a C$55.00 price objective on Manulife Financial and gave the stock a "buy" rating in a research note on Thursday, December 18th. Finally, Jefferies Financial Group raised their target price on Manulife Financial from C$54.00 to C$58.00 in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of C$55.63.

Manulife Financial Stock Performance

The stock has a market capitalization of C$84.60 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71. The firm has a fifty day moving average of C$48.69 and a 200 day moving average of C$48.16. The company has a debt-to-equity ratio of 28.80, a current ratio of 2.12 and a quick ratio of 2.58.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last posted its earnings results on Wednesday, February 11th. The financial services provider reported C$1.12 EPS for the quarter. The firm had revenue of C$22.03 billion for the quarter. Manulife Financial had a return on equity of 11.34% and a net margin of 10.91%. On average, sell-side analysts anticipate that Manulife Financial Co. will post 3.6104452 earnings per share for the current fiscal year.

Manulife Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Thursday, March 19th were issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Wednesday, February 25th. Manulife Financial's dividend payout ratio (DPR) is 57.33%.

Insider Buying and Selling

In related news, Director Adam Thomas Wise sold 3,500 shares of the firm's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of C$46.47, for a total transaction of C$162,645.00. Following the sale, the director directly owned 2,497 shares of the company's stock, valued at C$116,035.59. This trade represents a 58.36% decrease in their ownership of the stock. 0.03% of the stock is currently owned by company insiders.

About Manulife Financial

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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