Manulife Financial (TSE:MFC) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Manulife Financial Co. (TSE:MFC) (NYSE:MFC)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$44.25 and traded as high as C$49.48. Manulife Financial shares last traded at C$49.23, with a volume of 4,014,803 shares.

Analyst Ratings Changes

MFC has been the subject of several research analyst reports. Barclays raised their price objective on shares of Manulife Financial from C$47.00 to C$48.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. CIBC upped their price target on Manulife Financial from C$49.00 to C$50.00 in a report on Friday, November 14th. Desjardins boosted their target price on shares of Manulife Financial from C$48.00 to C$52.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada increased their price target on shares of Manulife Financial from C$49.00 to C$52.00 in a research report on Friday, November 14th. Finally, National Bankshares boosted their price objective on Manulife Financial from C$47.00 to C$52.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Manulife Financial has a consensus rating of “Moderate Buy” and an average target price of C$50.88.

Manulife Financial Price Performance

The business’s fifty day moving average price is C$47.18 and its two-hundred day moving average price is C$44.32. The stock has a market capitalization of C$82.55 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 1.01 and a beta of 0.94.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its earnings results on Wednesday, November 12th. The financial services provider reported C$1.16 EPS for the quarter. Manulife Financial had a return on equity of 11.75% and a net margin of 12.52%.The firm had revenue of C$26.23 billion for the quarter. As a group, equities research analysts anticipate that Manulife Financial Co. will post 3.6104452 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Rahim Hirji sold 25,048 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of C$48.25, for a total value of C$1,208,566.00. Following the transaction, the insider owned 31,315 shares of the company’s stock, valued at C$1,510,948.75. This represents a 44.44% decrease in their position. Corporate insiders own 0.03% of the company’s stock.

Manulife Financial Company Profile

Manulife provides life insurance and wealth management products and services to individuals and group customers in Canada, the United States, and Asia. Manulife is one of Canada’s Big Three Life Insurance companies (the other two are Sun Life and Great West Life). As of Dec. 31, 2021, Manulife reported assets under management or administration of about CAD $1.4 trillion.