Manulife Financial (TSE:MFC) Stock Crosses Above 200-Day Moving Average - What's Next?

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC's share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$41.32 and traded as high as C$42.11. Manulife Financial shares last traded at C$42.07, with a volume of 6,495,537 shares.

Analyst Ratings Changes

A number of research firms have recently issued reports on MFC. Cormark upped their target price on shares of Manulife Financial from C$47.00 to C$48.00 in a report on Thursday, November 21st. Jefferies Financial Group upped their target price on shares of Manulife Financial from C$50.00 to C$51.00 in a report on Thursday, January 30th. Barclays upped their target price on shares of Manulife Financial from C$40.00 to C$47.00 in a report on Monday, January 6th. TD Securities boosted 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 research report on Thursday. Finally, Scotiabank boosted their price target on shares of Manulife Financial from C$48.00 to C$49.00 in a research report on Friday, November 8th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of C$45.60.

Manulife Financial Stock Performance

The stock has a market cap of C$75.70 billion, a PE ratio of 13.43, a PEG ratio of 1.01 and a beta of 1.06. The stock's 50-day moving average is C$43.53 and its two-hundred day moving average is C$41.52.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.08%. This is a boost from Manulife Financial's previous quarterly dividend of $0.40. Manulife Financial's dividend payout ratio (DPR) is presently 49.79%.

Insider Buying and Selling

In other Manulife Financial news, Senior Officer James D. Gallagher sold 57,064 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of C$44.80, for a total value of C$2,556,638.39. Also, Director Kenneth Michael Ross sold 4,243 shares of the firm's 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. In the last quarter, insiders sold 62,307 shares of company stock valued at $2,796,173. Company insiders own 0.03% of the company's stock.

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.