Manulife Financial (TSE:MFC) Shares Pass Above 200 Day Moving Average of $32.18

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$32.18 and traded as high as C$36.30. Manulife Financial shares last traded at C$36.29, with a volume of 3,481,815 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MFC. BMO Capital Markets increased their target price on shares of Manulife Financial from C$40.00 to C$41.00 in a report on Friday, May 10th. TD Securities increased their price objective on Manulife Financial from C$37.00 to C$38.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. CIBC boosted their target price on Manulife Financial from C$34.00 to C$36.00 in a research note on Friday, May 10th. National Bank Financial raised Manulife Financial from a “sector perform market weight” rating to an “outperform market weight” rating in a research report on Wednesday, May 8th. Finally, Evercore boosted their price objective on Manulife Financial from C$36.00 to C$37.00 in a research report 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 company. Based on data from MarketBeat, Manulife Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of C$37.30.

Manulife Financial Stock Performance

The stock has a market cap of C$65.32 billion, a PE ratio of 15.92, a PEG ratio of 12.56 and a beta of 1.10. The company has a debt-to-equity ratio of 48.44, a current ratio of 29.14 and a quick ratio of 2.58. The firm has a 50 day moving average of C$34.60 and a two-hundred day moving average of C$32.18.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its quarterly earnings data on Wednesday, May 8th. The financial services provider reported C$0.94 earnings per share for the quarter, topping the consensus estimate of C$0.90 by C$0.04. The business 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%. Research analysts predict that Manulife Financial Co. will post 3.6078629 EPS for the current fiscal year.

Manulife Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were paid a $0.40 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $1.60 annualized dividend and a yield of 4.41%. Manulife Financial’s dividend payout ratio is presently 70.18%.

Insiders Place Their Bets

In other Manulife Financial news, Director Rocco Gori sold 48,640 shares of Manulife Financial 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. In other Manulife Financial news, Director Rocco Gori sold 48,640 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of C$35.25, for a total transaction of C$1,714,560.00. Also, Director Philip James Witherington sold 97,640 shares of Manulife Financial stock in a transaction on Friday, May 31st. The shares were sold at an average price of C$35.17, for a total transaction of C$3,433,852.34. Over the last 90 days, insiders have sold 157,878 shares of company stock valued at $5,557,706. 0.02% of the stock is currently owned by 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.