Manulife Financial (TSE:MFC) Share Price Crosses Above 200 Day Moving Average - Time to Sell?

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC's stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$36.25 and traded as high as C$41.63. Manulife Financial shares last traded at C$41.56, with a volume of 5,196,931 shares trading hands.

Analyst Upgrades and Downgrades

MFC has been the topic of several recent research reports. Jefferies Financial Group upped their price objective on Manulife Financial from C$42.00 to C$47.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. National Bankshares boosted their price objective on shares of Manulife Financial from C$38.00 to C$43.00 and gave the company an "outperform" rating in a research report on Wednesday, July 31st. Royal Bank of Canada raised their target price on shares of Manulife Financial from C$38.00 to C$39.00 in a research report on Friday, August 9th. TD Securities lifted their target price on shares of Manulife Financial from C$40.00 to C$41.00 in a research note on Friday, July 12th. Finally, Barclays set a C$39.00 price target on Manulife Financial and gave the stock an "equal weight" rating in a research note on Thursday, September 5th. One investment 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. According to data from MarketBeat.com, Manulife Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of C$39.64.

Manulife Financial Stock Performance

The stock's 50-day moving average is C$38.82 and its 200-day moving average is C$36.25. The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60. The stock has a market cap of C$73.51 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 1.01 and a beta of 1.06.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported C$0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.88 by C$0.03. The company had revenue of C$12.88 billion during the quarter, compared to analyst estimates of C$12.27 billion. Manulife Financial had a net margin of 17.34% and a return on equity of 10.41%. On average, analysts expect that Manulife Financial Co. will post 3.6104452 EPS for the current year.

Manulife Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $1.60 annualized dividend and a dividend yield of 3.85%. Manulife Financial's dividend payout ratio is presently 68.09%.

Insider Activity at Manulife Financial

In other news, Director Matthew Lyman Macinnis sold 6,708 shares of the firm's stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of C$34.67, for a total transaction of C$232,566.36. In other Manulife Financial news, Director Tin Ku sold 2,166 shares of the business's stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the sale, the director now directly owns 253 shares in the company, valued at approximately C$9,474.85. The trade was a 0.00 % decrease in their position. Also, Director Matthew Lyman Macinnis sold 6,708 shares of Manulife Financial stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of C$34.67, for a total transaction of C$232,566.36. Over the last 90 days, insiders sold 68,821 shares of company stock valued at $2,455,596. Insiders own 0.03% of the company's stock.

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.