TSE:MFC

Manulife Financial (MFC.TO)

57.04
+0.49 (0.87%)
as of Jun 25, 2026, 8:00:00 pm Market Open.
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Investor Insights
star iconJun 25, 2026, 12:00 am

This summary was created by AI, based on 28 opinions in the last 12 months.

Experts hold a mixed view on Manulife Financial (MFC), reflecting both cautious optimism and concerns over its growth prospects. Many analysts recognize the company's strong performance in Asian markets and wealth management, noting its potential for steady income through dividends, with several projecting double-digit growth. However, there are reservations regarding the current valuation, with some analysts suggesting a wait for market pullbacks before purchasing. Despite recent underperformance relative to peers and profit-taking activities, MFC is still viewed as a reliable long-term investment, especially for dividend-seeking investors. Concerns about broader market conditions and legacy business challenges persist, but the company's fundamentals appear solid.

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Consensus
Hold
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Valuation
Fair Value
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Similar
SLF
PAST TOP PICK
(A Top Pick Jan 12/22, Up 4%) Very good cashflow dividend of 5.2% today. Trades below book value, .95 price to book. Outpacing TSX since last May, a good technical sign. Remains a top 3 pan-Asian life insurer. Growth of middle class long term a definite positive. Looser China Covid rules will spur sales. Keep holding.
TOP PICK
Trading at less than its book value, it is very inexpensive. Investors are worried about how insurance companies will do next year under the new accounting regime standards, which will greatly affect the way they book profits and new business. But MFC won't change the way they manage their reserve requirements. This an accounting change, not necessarily a real world change. There is a lot of legacy business left over and this has helped to cause MFC to lag. If this is taken out of the long term care business, as well as low ROE business in the U.S., the stock should start to go up. Buy 7 Hold 8 Sell 1 (Analysts’ price target is $26.21)
BUY
Below NAV. With bond yields recovering, lifecos are finally back in the sweet spot of making money on investments. Spreads on unearned premiums are going to increase, so analysts should redo their models. China is opaque, mysterious, and that makes him nervous. Compelling buy at these prices.
BUY
Dividend play with its 5.5% yield. Most exposure to Asia among peers, a drag the last year. Asia and China are opening up, starting to be a tailwind again. Likes it at current levels.
DON'T BUY
Seemingly a great business, but look at how good it is at reinvesting into the business over the long term. Unable to show they can deliver sustainable higher ROE. Nice dividend, safe. He prefers more growth, such as TSU or IFC.
HOLD
Really likes it for the dividend of 5.56%. Safe dividend. Below book value at 0.9x. Starting to break out a bit. Be patient. As the macro improves in 2023-24, shares in the insurance market should improve also.
BUY
Lifecos are entering reporting season. Investors will look to see how Asian sales impacted in recent environment. Extremely well-financed. Dividend certainly secure, likely to grow. He'd recommend today as a good, long-term hold.
BUY
MFC vs. SLF vs. TD All financials got beaten up. Issue with banks is potential loan losses, and if it's a deep recession, loan losses can get bigger. A lot of financials can be a black box, and you don't see the damage until it's too late. Impressed by what MFC has done over time, nice dividend yield. All financials are starting to look interesting. Banks look attractive valuation-wise, but he'd wait.
BUY
Likes company with strong dividend (expecting rise in the future). Past troubles of the business has led to conservative balance sheet. High interest rates good for insurance companies. Competition from bond yields impacting value of shares.
BUY
His favourite lifeco is GWO. MFC is well run, but has a different regional focus, China, higher-grown and emerging. Valuation trades near book value and pays around a 6% dividend. There's tremendous value in lifecos. MFC ticks all the boxes.
DON'T BUY
It always trades in the same range. What kind of value is being created? Can't seem to deploy excess capital efficiently. See his Top Picks. Don't be seduced by the dividend.
DON'T BUY
It's been stuck in the doldrums for 5-6 years. It doesn't grow like the banks. Currency meltdowns hurt MFC's big Asian division.
DON'T BUY
Hard to own insurance, as there are so many moving parts. Insurance arm in Asia starting to slow down. Cheap valuation. Unclear what motivation is to move higher. Not a fan, or of any insurance. Benefit of rising rates offset by poor equity markets.
HOLD
Management has done well transforming to less economically sensitive products. Asian exposure might affect it in the near term. Profitable. Expects dividend increases. Trades in a range, so now is not the time to sell. Yields well over 5%, fairly secure.
DON'T BUY
It's a trading stock until they prove otherwise. Management is doing a good job. The Canadian and US businesses are sluggish, though Asia is doing better. They earn double-digit returns and offer a modest growth rate most years, but the stock remains stuck in $20-30 for six years. A trade, not an investment. Not that interest in it.
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