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

Key Points

• Manulife shares crossed above their 200-day moving average, reaching C$60.81 and closing near C$60.56, compared with a 200-day average of C$55.00.
• Analysts remain broadly bullish: the stock has a consensus “Buy” rating and a C$66.00 target price, with several firms recently raising targets to C$67–C$70.
• Manulife declared a quarterly dividend of C$0.485, equivalent to C$1.94 annually and a 3.2% yield; its latest quarter included C$1.09 in EPS and C$20.34 billion in revenue.

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$55.00 and traded as high as C$60.81. Manulife Financial shares last traded at C$60.56, with a volume of 4,514,814 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MFC shares. Royal Bank Of Canada upped their price objective 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 lifted 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. Jefferies Financial Group boosted their price target on Manulife Financial from C$61.00 to C$70.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. Desjardins upped 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, BMO Capital Markets raised their price objective on Manulife Financial from C$67.00 to C$70.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Manulife Financial currently has a consensus rating of "Buy" and a consensus target price of C$66.00.

Manulife Financial Price Performance

The company has a 50-day moving average price of C$60.54 and a two-hundred day moving average price of C$55.00. The company has a debt-to-equity ratio of 26.52, a current ratio of 2.36 and a quick ratio of 2.58. The company has a market cap of C$100.34 billion, a PE ratio of 16.41, a P/E/G ratio of 1.01 and a beta of 0.60.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last announced its earnings results on Wednesday, August 5th. The financial services provider reported C$1.09 EPS 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%. Sell-side analysts expect that Manulife Financial Co. will post 3.6104452 earnings per share for the current fiscal year.

Manulife Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Monday, September 21st will be given a $0.485 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.94 annualized dividend and a yield of 3.2%. Manulife Financial's dividend payout ratio (DPR) is 50.14%.

Insider Activity

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