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

Key Points

• Manulife Financial shares climbed above their 200-day moving average, reaching C$63.04 and last trading at C$62.16 on high volume. The 200-day average was C$55.58.
• Analysts remain broadly bullish, with a consensus “Buy” rating and a C$66.00 target price. Several firms recently raised their targets, including BMO Capital Markets to C$70.00.
• Manulife reported C$1.09 in quarterly earnings per share and maintains a quarterly dividend of $0.485 per share, equivalent to a 3.1% annualized yield.

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$55.58 and traded as high as C$63.04. Manulife Financial shares last traded at C$62.16, with a volume of 6,153,784 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MFC. Royal Bank Of Canada lifted their target price on Manulife Financial from C$55.00 to C$67.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Scotiabank upped their target price on Manulife Financial from C$56.00 to C$61.00 and gave the company a "sector outperform" rating in a report on Wednesday, July 15th. BMO Capital Markets increased their price target on Manulife Financial from C$67.00 to C$70.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Desjardins lifted their price target on Manulife Financial from C$63.00 to C$68.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Finally, Barclays boosted their price objective on Manulife Financial from C$56.00 to C$59.00 and gave the stock an "equal weight" rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of C$66.00.

Manulife Financial Price Performance

The stock has a fifty day moving average price of C$60.92 and a 200-day moving average price of C$55.58. The company has a market cap of C$102.99 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 1.01 and a beta of 0.60. The company has a debt-to-equity ratio of 26.52, a current ratio of 2.36 and a quick ratio of 2.58.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported C$1.09 earnings per share for the quarter. The business had revenue of C$20.34 billion for the quarter. Manulife Financial had a return on equity of 12.98% and a net margin of 11.62%. On average, equities analysts expect that Manulife Financial Co. will post 3.6104452 earnings per share for the current year.

Manulife Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 21st. Shareholders of record on Monday, September 21st were given a dividend of $0.485 per share. The ex-dividend date was Friday, August 21st. This represents a $1.94 dividend on an annualized basis and a yield of 3.1%. Manulife Financial's dividend payout ratio (DPR) is presently 50.14%.

Insiders Place Their Bets

In other Manulife Financial news, insider Patrick David Graham sold 6,843 shares of Manulife Financial stock in a transaction dated Friday, August 14th. The stock was sold at an average price of C$62.06, for a total transaction of C$424,676.58. 0.03% of the stock is currently owned by company insiders.

Manulife Financial Company Profile

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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