Manulife Financial (TSE:MFC) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$43.91 and traded as high as C$49.32. Manulife Financial shares last traded at C$48.90, with a volume of 11,861,803 shares traded.

Analysts Set New Price Targets

Several analysts have commented on MFC shares. Desjardins upped 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 report on Wednesday, October 15th. National Bankshares lifted their price objective on Manulife Financial from C$47.00 to C$52.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Barclays upped their price objective on Manulife Financial from C$47.00 to C$48.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. CIBC increased their target price on Manulife Financial from C$49.00 to C$50.00 in a research note on Friday, November 14th. Finally, TD Securities boosted their target price on Manulife Financial from C$54.00 to C$57.00 in a research report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$50.88.

Manulife Financial Trading Down 0.6%

The firm has a market cap of C$82.40 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 1.01 and a beta of 0.94. The company has a 50 day moving average of C$46.06 and a 200 day moving average of C$43.91.

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

Insider Transactions at Manulife Financial

In other Manulife Financial news, insider Rahim Hirji sold 25,048 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of C$48.25, for a total transaction of C$1,208,566.00. Following the sale, the insider directly owned 31,315 shares in the company, valued at approximately C$1,510,948.75. This trade represents a 44.44% decrease in their position. 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.