Manulife Financial (TSE:MFC) Stock Crosses Above Two Hundred Day Moving Average of $23.88

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Manulife Financial Co. (TSE:MFC) (NYSE:MFC) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $23.88 and traded as high as $25.55. Manulife Financial shares last traded at $25.22, with a volume of 1,606,429 shares trading hands.

Several equities analysts recently issued reports on MFC shares. TD Securities boosted their price objective on Manulife Financial from C$31.00 to C$32.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. National Bank Financial boosted their target price on Manulife Financial from C$26.00 to C$28.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and issued a C$30.00 target price on shares of Manulife Financial in a research note on Friday, August 9th. Evercore ISI cut their target price on Manulife Financial from C$24.50 to C$24.00 in a research note on Thursday, August 8th. Finally, Evercore cut their target price on Manulife Financial from C$24.50 to C$24.00 in a research note on Thursday, August 8th.

The stock has a market cap of $49.48 billion and a P/E ratio of 10.37. The company has a 50 day simple moving average of C$25.34 and a 200 day simple moving average of C$23.88. The company has a current ratio of 136.24, a quick ratio of 60.15 and a debt-to-equity ratio of 46.37.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Monday, November 18th. Manulife Financial’s payout ratio is 41.05%.

In other news, Senior Officer Steve Finch sold 14,256 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of C$26.19, for a total transaction of C$373,380.32. Following the sale, the insider now owns 6,214 shares in the company, valued at approximately C$162,751.50. Also, Senior Officer Stephani Kingsmill sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of C$26.05, for a total value of C$521,000.00. Following the sale, the insider now owns 22,660 shares in the company, valued at approximately C$590,293. Insiders sold a total of 36,218 shares of company stock worth $945,767 in the last 90 days.

About Manulife Financial (TSE:MFC)

Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.

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