Manulife Financial Co. (TSE:MFC – Get Rating) (NYSE:MFC) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$23.24 and traded as high as C$25.51. Manulife Financial shares last traded at C$25.50, with a volume of 3,382,675 shares changing hands.
Analyst Upgrades and Downgrades
Several research firms have commented on MFC. Evercore ISI dropped their price objective on shares of Manulife Financial to C$24.00 and set a “hold” rating for the company in a report on Monday, October 31st. Canaccord Genuity Group increased their price objective on shares of Manulife Financial from C$23.50 to C$24.50 in a report on Friday, November 11th. National Bankshares dropped their price objective on shares of Manulife Financial from C$25.00 to C$24.00 in a report on Friday, October 28th. Finally, Barclays lowered their price target on shares of Manulife Financial from C$29.00 to C$28.00 in a report on Friday, November 11th. Seven investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$26.25.
Manulife Financial Trading Up 1.5 %
The company has a debt-to-equity ratio of 44.70, a quick ratio of 2.58 and a current ratio of 7.04. The stock’s fifty day moving average is C$24.28 and its 200 day moving average is C$23.24. The stock has a market cap of C$47.81 billion and a P/E ratio of 6.80.
Manulife Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 19th. Shareholders of record on Tuesday, November 22nd were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.18%. The ex-dividend date was Monday, November 21st. Manulife Financial’s payout ratio is currently 35.20%.
Insiders Place Their Bets
In other Manulife Financial news, Director Simonetta Vendittelli sold 3,090 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of C$23.58, for a total value of C$72,867.86. Following the completion of the sale, the director now owns 1,079 shares of the company’s stock, valued at C$25,444.80. In other news, Senior Officer Steve Finch sold 13,926 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of C$23.43, for a total transaction of C$326,340.49. Following the transaction, the insider now directly owns 17,618 shares of the company’s stock, valued at C$412,858.45. Also, Director Simonetta Vendittelli sold 3,090 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of C$23.58, for a total transaction of C$72,867.86. Following the transaction, the director now directly owns 1,079 shares in the company, valued at C$25,444.80.
Manulife Financial Company Profile
Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, 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 provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks.
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