Manulife Financial (TSE:MFC) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MFC shares. National Bank Financial raised their target price on Manulife Financial from C$59.00 to C$69.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada boosted their price target on Manulife Financial from C$55.00 to C$67.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Scotiabank increased their price target 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. TD raised their price objective 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, BMO Capital Markets lifted 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 given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$66.00.

Manulife Financial Price Performance

The company has a market cap of C$98.49 billion, a P/E ratio of 16.09, a P/E/G ratio of 1.01 and a beta of 0.71. The company’s 50-day moving average price is C$59.93 and its two-hundred day moving average price is C$54.16. The company has a current ratio of 2.36, a quick ratio of 2.58 and a debt-to-equity ratio of 26.52.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its quarterly 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 net margin of 11.62% and a return on equity of 12.98%. As a group, sell-side analysts expect that Manulife Financial Co. will post 3.6104452 earnings per share for the current year.

Manulife Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Monday, September 21st will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, August 21st. Manulife Financial’s dividend payout ratio (DPR) is currently 50.14%.

Insider Activity at Manulife Financial

In related news, insider Rahul Madhav Joshi sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of C$53.23, for a total transaction of C$1,863,050.00. Following the sale, the insider directly owned 77,185 shares of the company’s stock, valued at approximately C$4,108,557.55. This represents a 31.20% decrease in their position. Also, insider Patrick David Graham sold 6,843 shares of the firm’s stock in a transaction 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. In the last quarter, insiders sold 66,843 shares of company stock valued at $3,644,977. Insiders own 0.03% of the company’s stock.

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.