Manulife Financial (TSE:MFC) Share Price Crosses Above Two Hundred Day Moving Average of $31.88

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$31.88 and traded as high as C$35.25. Manulife Financial shares last traded at C$35.07, with a volume of 1,812,956 shares.

Analysts Set New Price Targets

Several brokerages have recently commented on MFC. BMO Capital Markets increased their price target on shares of Manulife Financial from C$40.00 to C$41.00 in a research note on Friday, May 10th. National Bankshares upgraded shares of Manulife Financial from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$34.00 to C$38.00 in a research note on Thursday, May 9th. National Bank Financial upgraded shares of Manulife Financial from a “sector perform market weight” rating to an “outperform market weight” rating in a research note on Wednesday, May 8th. Evercore increased their price target on shares of Manulife Financial from C$36.00 to C$37.00 in a research note on Friday, May 10th. Finally, CIBC raised their target price on shares of Manulife Financial from C$34.00 to C$36.00 in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$37.30.

Manulife Financial Stock Up 0.4 %

The business’s fifty day moving average price is C$34.28 and its 200 day moving average price is C$31.90. The company has a market capitalization of C$63.40 billion, a P/E ratio of 15.45, a P/E/G ratio of 12.56 and a beta of 1.10. The company has a current ratio of 29.14, a quick ratio of 2.58 and a debt-to-equity ratio of 48.44.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings data on Wednesday, May 8th. The financial services provider reported C$0.94 EPS for the quarter, topping analysts’ consensus estimates of C$0.90 by C$0.04. The company had revenue of C$12.80 billion during the quarter, compared to the consensus estimate of C$12.13 billion. Manulife Financial had a net margin of 18.29% and a return on equity of 10.48%. As a group, equities research analysts predict that Manulife Financial Co. will post 3.6078629 earnings per share for the current fiscal year.

Manulife Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend was Tuesday, May 21st. Manulife Financial’s payout ratio is 70.18%.

Insider Activity at Manulife Financial

In other Manulife Financial news, Director Rocco Gori sold 48,640 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of C$35.25, for a total value of C$1,714,560.00. In related news, Senior Officer Steve Finch sold 11,598 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of C$35.29, for a total transaction of C$409,293.42. Also, Director Rocco Gori sold 48,640 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of C$35.25, for a total transaction of C$1,714,560.00. Insiders sold 157,878 shares of company stock valued at $5,557,706 in the last ninety days. Insiders own 0.02% 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.