Manulife Financial (TSE:MFC) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$41.32 and traded as high as C$42.11. Manulife Financial shares last traded at C$42.07, with a volume of 6,495,537 shares changing hands.

Analyst Ratings Changes

Several research firms have recently weighed in on MFC. National Bankshares lifted their price objective on Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. Scotiabank increased their target price on shares of Manulife Financial from C$48.00 to C$49.00 in a research report on Friday, November 8th. Jefferies Financial Group upped their price objective on Manulife Financial from C$50.00 to C$51.00 in a research report on Thursday, January 30th. Barclays lifted their target price on Manulife Financial from C$40.00 to C$47.00 in a report on Monday, January 6th. Finally, CIBC upped their price objective on shares of Manulife Financial from C$46.00 to C$47.00 in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$45.40.

Manulife Financial Price Performance

The firm has a market capitalization of C$74.23 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.01 and a beta of 1.06. The firm has a 50 day moving average price of C$43.55 and a 200-day moving average price of C$41.40.

Manulife Financial Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.38%. Manulife Financial’s dividend payout ratio is presently 49.79%.

Insider Activity

In related news, Director Kenneth Michael Ross sold 4,243 shares of Manulife Financial stock in a transaction on Monday, December 2nd. The shares were sold at an average price of C$45.80, for a total value of C$194,315.82. Also, Senior Officer James D. Gallagher sold 57,064 shares of Manulife Financial stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of C$44.80, for a total value of C$2,556,638.39. In the last three months, insiders sold 62,307 shares of company stock valued at $2,796,173. Company insiders own 0.03% of the company’s stock.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.