Manulife Financial (TSE:MFC) Share Price Passes Above 200 Day Moving Average - Should You Sell?

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC crossed above its 200-day moving average during trading on Monday . The stock has a 200-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.

Analysts Set New Price Targets

MFC has been the topic of a number of research reports. Jefferies Financial Group upped their price target on shares of Manulife Financial from C$50.00 to C$51.00 in a research note on Thursday, January 30th. CIBC upped their target price 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 Manulife Financial from C$48.00 to C$49.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Finally, Barclays upped their price objective on Manulife Financial from C$40.00 to C$47.00 in a report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of C$45.60.

Manulife Financial Stock Performance

The company has a market capitalization of C$77.28 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The firm has a fifty day moving average price of C$43.23 and a 200-day moving average price of C$42.84.

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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 given a dividend of $0.44 per share. This is an increase from Manulife Financial's previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend was Wednesday, March 5th. Manulife Financial's payout ratio is currently 49.79%.

Insider Buying and Selling at Manulife Financial

In other news, Director Brooks Tingle sold 3,866 shares of the business's stock in a transaction dated 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, Senior Officer Steve Finch sold 11,598 shares of the company's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of C$43.43, for a total transaction of C$503,646.63. In the last quarter, insiders have sold 18,683 shares of company stock valued at $816,102. 0.03% of the stock is currently owned by corporate insiders.

About Manulife Financial

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.