Manulife Financial (TSE:MFC) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) 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.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MFC. National Bank Financial lifted their target price on shares of Manulife Financial from C$56.00 to C$59.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Desjardins set a C$58.00 price target on shares of Manulife Financial and gave the company a “buy” rating in a report on Friday, April 17th. Finally, TD dropped their price target on shares of Manulife Financial from C$59.00 to C$58.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Manulife Financial presently has a consensus rating of “Buy” and an average target price of C$57.00.

Manulife Financial Trading Down 0.1%

The business’s fifty day moving average price is C$55.35 and its two-hundred day moving average price is C$51.86. The firm has a market cap of C$97.20 billion, a P/E ratio of 16.86, a P/E/G ratio of 1.01 and a beta of 0.71.

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

Insider Buying and Selling

In related news, Director Aimee Decamillo sold 18,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was 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 of the company’s stock, valued at approximately C$258,642.92. This trade represents a 78.27% decrease in their position. Also, Director Eileen Cloherty sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of C$53.45, for a total value of C$347,425.00. Following the completion of the sale, the director owned 3,412 shares of the company’s stock, valued at approximately C$182,371.40. This trade represents a 65.58% decrease in their ownership of the stock. In the last quarter, insiders sold 136,834 shares of company stock worth $7,311,659. 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.