Manulife Financial (TSE:MFC) Shares Cross Above 200-Day Moving Average - Here's What Happened

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC's stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$42.67 and traded as high as C$44.93. Manulife Financial shares last traded at C$44.92, with a volume of 8,990,600 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. CIBC lifted their price objective on Manulife Financial from C$47.00 to C$48.00 in a research report on Friday, February 21st. TD Securities lifted their price target on shares of Manulife Financial from C$48.00 to C$49.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Barclays increased their price objective on shares of Manulife Financial from C$40.00 to C$47.00 in a research note on Monday, January 6th. Finally, Jefferies Financial Group lifted their target price on shares of Manulife Financial from C$50.00 to C$51.00 in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Manulife Financial currently has a consensus rating of "Moderate Buy" and an average price target of C$45.60.

Manulife Financial Price Performance

The stock has a market cap of C$77.28 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The stock has a 50-day moving average price of C$43.23 and a two-hundred day moving average price of C$42.88.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 19th were paid a $0.44 dividend. This is an increase from Manulife Financial's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.76 dividend on an annualized basis and a yield of 3.99%. Manulife Financial's payout ratio is presently 49.79%.

Insider Activity

In other Manulife Financial news, Director Brooks Tingle sold 3,866 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of C$43.43, for a total transaction of C$167,882.21. Also, Director Kenneth Michael Ross sold 3,219 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of C$44.91, for a total value of C$144,572.68. In the last ninety days, insiders sold 18,683 shares of company stock worth $816,102. 0.03% 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.