Manulife Financial (TSE:MFC) Share Price Crosses Above 200 Day Moving Average - Here's Why

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC shares 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 traded.

Analyst Upgrades and Downgrades

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

Manulife Financial Stock Performance

The business has a 50 day moving average price of C$43.23 and a 200-day moving average price of C$42.83. The company has a market capitalization of C$77.28 billion, a price-to-earnings ratio of 13.71, a P/E/G ratio of 1.01 and a beta of 1.06.

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Manulife Financial Increases Dividend

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

Insider Transactions at Manulife Financial

In related news, Senior Officer Steve Finch sold 11,598 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$503,646.63. 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. Insiders sold a total of 18,683 shares of company stock valued at $816,102 in 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.