Manulife Financial (TSE:MFC) Stock Price Crosses Below Fifty Day Moving Average - What's Next?

Key Points

• Manulife shares fell below their 50-day moving average of C$61.46, trading as low as C$60.40 and last at C$61.00.
• Analysts’ consensus rating is Moderate Buy, with an average price target of C$67.00; nine analysts rated the stock Buy and two Hold.
• The company reported quarterly EPS of C$1.09 and revenue of C$20.34 billion, and pays an annualized dividend of C$1.94 per share, a 3.2% yield.

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC shares crossed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of C$61.46 and traded as low as C$60.40. Manulife Financial shares last traded at C$61.00, with a volume of 8,202,669 shares traded.

Analysts Set New Price Targets

MFC has been the subject of several research reports. Canadian Imperial Bank of Commerce boosted their price target on shares of Manulife Financial from C$61.00 to C$69.00 in a research note on Wednesday, July 15th. Barclays increased their price target on shares of Manulife Financial from C$56.00 to C$59.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 6th. BMO Capital Markets upped their price target on Manulife Financial from C$67.00 to C$70.00 and gave the company an "outperform" rating in a report on Friday, August 7th. National Bank Financial increased their target price on shares of Manulife Financial from C$68.00 to C$69.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, Scotiabank cut shares of Manulife Financial from a "sector outperform" rating to a "hold" rating and set a C$67.00 price target for the company. in a research note on Wednesday, October 28th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of C$67.00.

Manulife Financial Stock Performance

The company has a 50-day moving average price of C$61.46 and a two-hundred day moving average price of C$55.82. The company has a market capitalization of C$100.77 billion, a PE ratio of 16.53, a PEG ratio of 1.01 and a beta of 0.53. The company has a quick ratio of 2.58, a current ratio of 2.36 and a debt-to-equity ratio of 26.52.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported C$1.09 EPS for the quarter. Manulife Financial had a return on equity of 12.98% and a net margin of 11.62%. The company had revenue of C$20.34 billion during the quarter. Analysts predict that Manulife Financial Co. will post 3.61 EPS for the current fiscal year.

Manulife Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 21st. Stockholders of record on Monday, September 21st were given a dividend of $0.4850 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.2%. Manulife Financial's dividend payout ratio (DPR) is presently 50.14%.

Insider Buying and Selling

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