Manulife Financial (NYSE:MFC) Stock Price Crosses Above 200 Day Moving Average - Time to Sell?

Shares of Manulife Financial Co. (NYSE:MFC - Get Free Report) TSE: MFC crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $28.69 and traded as high as $30.82. Manulife Financial shares last traded at $30.63, with a volume of 1,327,609 shares traded.

Analysts Set New Price Targets

Separately, Barclays began coverage on Manulife Financial in a report on Thursday, September 5th. They issued an "equal weight" rating for the company. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $37.50.

Manulife Financial Trading Up 0.3 %

The stock's 50-day moving average price is $31.27 and its 200-day moving average price is $28.73. The company has a market capitalization of $53.47 billion, a P/E ratio of 14.84, a P/E/G ratio of 1.14 and a beta of 1.09.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.30. The firm had revenue of $10.69 billion for the quarter, compared to analysts' expectations of $9.73 billion. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. During the same quarter last year, the company posted $0.69 earnings per share. Sell-side analysts expect that Manulife Financial Co. will post 2.72 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

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 $0.296 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.18 dividend on an annualized basis and a yield of 3.86%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.29. Manulife Financial's payout ratio is currently 57.00%.

Hedge Funds Weigh In On Manulife Financial

Several institutional investors have recently modified their holdings of the company. West Financial Advisors LLC bought a new position in Manulife Financial in the 3rd quarter worth approximately $26,000. Brooklyn Investment Group acquired a new position in shares of Manulife Financial during the third quarter valued at approximately $26,000. Addison Advisors LLC raised its holdings in Manulife Financial by 77.2% during the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider's stock worth $29,000 after purchasing an additional 467 shares in the last quarter. HHM Wealth Advisors LLC lifted its position in Manulife Financial by 119.0% in the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider's stock worth $29,000 after purchasing an additional 600 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in Manulife Financial during the 3rd quarter valued at $30,000. Institutional investors own 52.56% 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.