Manulife Financial (TSE:MFC) Shares Pass Above 200 Day Moving Average - Time to Sell?

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC's share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$38.77 and traded as high as C$44.65. Manulife Financial shares last traded at C$43.85, with a volume of 6,968,161 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MFC. Scotiabank lifted their target price on shares of Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. TD Securities lifted their price objective on Manulife Financial from C$45.00 to C$48.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Barclays increased their target price on Manulife Financial from C$39.00 to C$40.00 in a report on Friday, November 22nd. Jefferies Financial Group boosted their price target on shares of Manulife Financial from C$42.00 to C$47.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Finally, CIBC lifted their target price on Manulife Financial from C$42.00 to C$46.00 in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of C$43.45.

Manulife Financial Stock Performance

The company has a debt-to-equity ratio of 49.60, a quick ratio of 2.58 and a current ratio of 36.68. The stock's fifty day moving average is C$43.31 and its two-hundred day moving average is C$38.82. The firm has a market cap of C$78.00 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 1.01 and a beta of 1.06.

Manulife Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.60 annualized dividend and a yield of 3.63%. Manulife Financial's payout ratio is 68.09%.

Insider Activity at Manulife Financial

In other news, Senior Officer Steve Finch sold 11,598 shares of the firm's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of C$46.07, for a total transaction of C$534,308.26. Also, Director Kenneth Michael Ross sold 4,243 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of C$45.80, for a total transaction of C$194,315.82. Insiders have sold 77,771 shares of company stock worth $3,508,584 over the last quarter. 0.03% of the stock is currently owned by company 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.