Manulife Financial (TSE:MFC) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$40.13 and traded as high as C$42.93. Manulife Financial shares last traded at C$42.53, with a volume of 3,653,835 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MFC shares. TD Securities boosted their price objective on shares of Manulife Financial from C$45.00 to C$48.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. CIBC boosted their target price on Manulife Financial from C$42.00 to C$46.00 in a report on Friday, November 8th. Scotiabank raised their price target on shares of Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. Cormark raised their target price on shares of Manulife Financial from C$47.00 to C$48.00 in a research note on Thursday, November 21st. Finally, Jefferies Financial Group increased their price target on Manulife Financial from C$42.00 to C$47.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Manulife Financial has a consensus rating of "Moderate Buy" and a consensus target price of C$44.09.

Manulife Financial Trading Up 0.6 %

The company has a quick ratio of 2.58, a current ratio of 36.68 and a debt-to-equity ratio of 49.60. The firm's 50 day moving average is C$44.43 and its two-hundred day moving average is C$40.18. The stock has a market cap of C$75.76 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06.

Manulife Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend was Wednesday, November 20th. Manulife Financial's payout ratio is currently 68.09%.

Insider Transactions at Manulife Financial

In related news, Director Anthony Alex Silva sold 1,000 shares of Manulife Financial stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of C$45.22, for a total value of C$45,218.70. Also, Director Kenneth Michael Ross sold 4,243 shares of the company's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of C$45.80, for a total value of C$194,315.82. Over the last quarter, insiders sold 77,771 shares of company stock valued at $3,508,584. 0.03% of the stock is currently owned by corporate 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.