Manulife Financial (TSE:MFC) Shares Cross Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Manulife shares rose above their 200-day moving average, trading as high as C$60.25 and last at C$59.97, compared with the C$54.11 long-term average.
• Analysts remain broadly positive: MarketBeat reports an average “Buy” rating and a C$66.00 target price, with recent targets ranging from C$59.00 to C$70.00.
• Manulife reported C$1.09 in quarterly EPS on C$20.34 billion in revenue and declared a quarterly dividend of C$0.485 per share, equivalent to a 3.2% annualized yield. Insiders have sold 66,843 shares over the past 90 days.

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$54.11 and traded as high as C$60.25. Manulife Financial shares last traded at C$59.97, with a volume of 13,053,509 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MFC shares. Desjardins boosted their price target on Manulife Financial from C$63.00 to C$68.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Scotiabank raised their price objective on Manulife Financial from C$56.00 to C$61.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, July 15th. Barclays lifted 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. Canadian Imperial Bank of Commerce boosted their price objective on Manulife Financial from C$61.00 to C$69.00 in a research report on Wednesday, July 15th. Finally, Jefferies Financial Group raised their target price on Manulife Financial from C$61.00 to C$70.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average target price of C$66.00.

Manulife Financial Stock Performance

The firm has a market capitalization of C$99.51 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71. The firm's 50-day moving average price is C$59.88 and its two-hundred day moving average price is C$54.11. The company has a debt-to-equity ratio of 26.52, a quick ratio of 2.58 and a current ratio of 2.36.

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

Manulife Financial Announces Dividend

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

Insider Buying and Selling at Manulife Financial

In other Manulife Financial news, insider Rahul Madhav Joshi sold 25,000 shares of the company's stock in a transaction on Monday, June 8th. The stock was sold at an average price of C$54.29, for a total value of C$1,357,250.00. Following the sale, the insider directly owned 77,185 shares in the company, valued at C$4,190,373.65. This represents a 24.47% decrease in their ownership of the stock. Also, insider Patrick David Graham sold 6,843 shares of the company's stock in a transaction on Friday, August 14th. The shares were sold at an average price of C$62.06, for a total value of C$424,676.58. In the last ninety days, insiders sold 66,843 shares of company stock worth $3,644,977. 0.03% of the stock is owned by 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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