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

Key Points

• Manulife Financial shares broke above their 200-day moving average, reaching C$61.58 and last trading at C$61.42, compared with a 200-day average of C$54.48.
• Analyst sentiment is positive: the stock has a consensus “Buy” rating and a C$66.00 target price, with several major banks recently raising their targets to between C$67 and C$69.
• Manulife reported quarterly EPS of C$1.09 on C$20.34 billion in revenue and announced a quarterly dividend of C$0.485, equivalent to a 3.2% yield; however, insiders have recently sold shares.

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$54.48 and traded as high as C$61.58. Manulife Financial shares last traded at C$61.42, with a volume of 6,220,904 shares traded.

Wall Street Analysts Forecast Growth

MFC has been the subject of several research analyst reports. Royal Bank Of Canada lifted their price objective on Manulife Financial from C$55.00 to C$67.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Scotiabank increased their target price on Manulife Financial from C$56.00 to C$61.00 and gave the stock a "sector outperform" rating in a report on Wednesday, July 15th. Canadian Imperial Bank of Commerce increased their target price on Manulife Financial from C$61.00 to C$69.00 in a report on Wednesday, July 15th. TD raised their target price on Manulife Financial from C$65.00 to C$67.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Desjardins lifted their price target on Manulife Financial from C$63.00 to C$68.00 and gave the company a "buy" rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, 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 debt-to-equity ratio of 26.52, a current ratio of 2.36 and a quick ratio of 2.58. The company's 50 day moving average price is C$60.20 and its 200 day moving average price is C$54.48. The firm has a market capitalization of C$101.91 billion, a P/E ratio of 16.64, a PEG ratio of 1.01 and a beta of 0.71.

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

Manulife Financial Announces Dividend

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

Insiders Place Their Bets

In other news, insider Patrick David Graham sold 6,843 shares of the business's stock in a transaction on Friday, August 14th. The stock was sold at an average price of C$62.06, for a total transaction of C$424,676.58. Also, insider Rahul Madhav Joshi sold 25,000 shares of the company's stock in a transaction on Monday, June 8th. The shares were sold at an average price of C$54.29, for a total value of C$1,357,250.00. Following the transaction, the insider directly owned 77,185 shares in the company, valued at C$4,190,373.65. This trade represents a 24.47% decrease in their position. Insiders own 0.03% of the company's stock.

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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