Opinions Christine Poole
Manulife FinancialMFC.TOCOMMENTApr 12, 2017
Christine PooleStock price when the opinion was issued
As of Sep 25, 2026. Market Open.
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It has had a lot of traction and the price has risen. It won't get the multiple of banks today which are at their peak level. The dividend yield is stronger than the banks. He owns and is not selling but also not buying for clients...waiting for it to consolidate.
In answer to another part of the question on the trading, component, a big chunk of volume goes through the first half hour and last half hour of the trading day but this doesn't matter to their trading strategy.
Ryan BushellBoth fairly highly ranked, and moving up, in the Canadian equity universe. The banks have been dominating the top of the rankings, and the insurers have been catching up. TD is slightly higher ranked, with a bit better performance.
When two stocks are looking good and under accumulation, and you can't decide, you can always split your position between the two of them.
A bit overbought. Chart looks healthy, with higher highs and higher lows. 200-day MA continues to move higher. Financials in Canada are, in general, getting a little overvalued. Be cautious, be selective.
Trading over 2x book value now. Not a lot of earnings growth, about 8-9% (still decent, but not explosive).
Decent-sized miss on alternative portfolio results, so short-term penalty box. Longer term, nothing has changed. Reiterated 18% ROE target for 2027. Still a good story. Wait for weakness to add.
Greg NewmanIn the doldrums following the financial crisis. Recently, taken the lead. The opportunity in this name has, perhaps, been fully realized.
He needs either a macro or company-specific hiccup to happen before putting new $$ to work in the market. At that time, you may want to take profits on this and deploy elsewhere. Watch out for headline contagion risk from private credit issues.
Ryan Bushell
Viewed as less dependable as SLF and less exciting at Great West Life. MFC is well-capitalized with a decent PE though lifecos aren't great growers. Is reliable.
Martin Cobb, ASIP
She likes this. All insurance companies will benefit from a rising interest rate environment. In the last few weeks, most insurers and financials have been in a trading zone because there is a question of how fast rates are going to increase, both in the US and Canada. This has good exposure in the US, so will benefit from rising rates. She also likes their positioning in Asia. About 25% of revenues comes from Asia, and it is a faster growth market. Trading at a discount to Sun Life (SLF-T), but going forward that gap is closing because their ROE is growing at a faster pace. They’ve been increasing dividends, and she sees that continuing. Could see this in the high $20 area.