Manulife Financial (TSE:MFC) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$40.13 and traded as high as C$42.93. Manulife Financial shares last traded at C$42.53, with a volume of 3,653,835 shares.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MFC. National Bankshares upped their target price on shares of Manulife Financial from C$45.00 to C$47.00 in a research note on Thursday, November 7th. CIBC upped their price objective on Manulife Financial from C$42.00 to C$46.00 in a research note on Friday, November 8th. Barclays lifted their target price on Manulife Financial from C$40.00 to C$47.00 in a research report on Monday, January 6th. Jefferies Financial Group raised their price objective on Manulife Financial from C$42.00 to C$47.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Cormark boosted their price objective on shares of Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$44.09.

Manulife Financial Stock Performance

The company has a debt-to-equity ratio of 49.60, a current ratio of 36.68 and a quick ratio of 2.58. The company has a fifty day moving average price of C$44.43 and a two-hundred day moving average price of C$40.18. The firm has a market cap of C$77.84 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06.

Manulife Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, November 20th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date was Wednesday, November 20th. Manulife Financial’s payout ratio is presently 68.09%.

Insiders Place Their Bets

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, Director Anthony Alex Silva sold 1,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of C$45.22, for a total value of C$45,218.70. Insiders sold a total of 77,771 shares of company stock worth $3,508,584 in the last quarter. 0.03% of the stock is currently owned by corporate insiders.

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.