Manulife Financial (NYSE:MFC) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $37.18 and traded as high as $40.69. Manulife Financial shares last traded at $40.6590, with a volume of 1,591,193 shares traded.

Analyst Ratings Changes

A number of analysts have issued reports on MFC shares. Weiss Ratings raised Manulife Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, May 28th. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a research note on Wednesday, April 29th. Finally, TD Securities reiterated a “buy” rating on shares of Manulife Financial in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to MarketBeat, Manulife Financial presently has an average rating of “Buy” and a consensus target price of $51.50.

Manulife Financial Trading Up 0.9%

The company has a market capitalization of $67.86 billion, a PE ratio of 16.13 and a beta of 0.84. The company’s 50 day moving average price is $39.16 and its 200-day moving average price is $37.18.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, May 13th. The financial services provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.02). Manulife Financial had a return on equity of 16.58% and a net margin of 10.19%.The firm had revenue of $8.89 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period last year, the business posted $0.99 earnings per share. As a group, analysts predict that Manulife Financial Corp will post 3.2 earnings per share for the current year.

Manulife Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, May 29th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Friday, May 29th. Manulife Financial’s dividend payout ratio (DPR) is 56.75%.

Hedge Funds Weigh In On Manulife Financial

Several hedge funds and other institutional investors have recently modified their holdings of MFC. Basepoint Wealth LLC purchased a new stake in shares of Manulife Financial during the 4th quarter worth about $25,000. Hantz Financial Services Inc. purchased a new position in Manulife Financial in the fourth quarter valued at approximately $28,000. Canerector Inc. raised its holdings in Manulife Financial by 27.0% in the first quarter. Canerector Inc. now owns 800,000 shares of the financial services provider’s stock valued at $28,000 after buying an additional 170,000 shares during the period. Sfam LLC acquired a new position in Manulife Financial during the fourth quarter valued at approximately $28,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Manulife Financial during the first quarter valued at approximately $29,000. 52.56% of the stock is owned by institutional investors and hedge funds.

About Manulife Financial

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.