Manulife Financial (TSE:MFC) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$51.86 and traded as high as C$58.70. Manulife Financial shares last traded at C$58.49, with a volume of 2,780,790 shares changing hands.

Wall Street Analysts Forecast Growth

MFC has been the subject of a number of research analyst reports. Canadian Imperial Bank of Commerce lifted their price objective on shares of Manulife Financial from C$61.00 to C$69.00 in a research report on Wednesday. Scotiabank raised their target price on shares of Manulife Financial from C$56.00 to C$61.00 and gave the stock a “sector outperform” rating in a research note on Wednesday. TD cut their target price on shares of Manulife Financial from C$59.00 to C$58.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. National Bank Financial lifted their target price on shares of Manulife Financial from C$56.00 to C$59.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Finally, Desjardins set a C$58.00 price target on shares of Manulife Financial and gave the company a “buy” rating in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$58.78.

Manulife Financial Stock Performance

The firm has a market capitalization of C$100.53 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 1.01 and a beta of 0.71. The company has a fifty day moving average of C$55.46 and a two-hundred day moving average of C$51.92.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings results on Wednesday, May 13th. The financial services provider reported C$1.06 earnings per share (EPS) for the quarter. Manulife Financial had a return on equity of 12.60% and a net margin of 11.97%.The business had revenue of C$2.15 billion during the quarter. Equities analysts forecast that Manulife Financial Co. will post 3.6104452 EPS for the current year.

Insider Transactions at Manulife Financial

In related news, Director Aimee Decamillo sold 18,000 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of C$51.77, for a total value of C$931,860.00. Following the transaction, the director directly owned 4,996 shares in the company, valued at approximately C$258,642.92. This represents a 78.27% decrease in their ownership of the stock. Also, insider Rahul Madhav Joshi sold 25,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of C$54.29, for a total transaction of C$1,357,250.00. Following the transaction, the insider directly owned 77,185 shares in the company, valued at approximately C$4,190,373.65. This represents a 24.47% decrease in their ownership of the stock. Insiders sold a total of 136,834 shares of company stock worth $7,311,659 over the last ninety days. Corporate insiders own 0.03% of the company’s stock.

Manulife Financial Company Profile

Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com. One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities.