TSE:MFC

Manulife Financial (MFC.TO)

61.50
-0.03 (0.05%)
as of Sep 24, 2026, 8:00:00 pm Market Open.
1632 watching
0
DON'T BUY
The whole of the financial sector is facing a big challenge going forward because of the subprime crisis in the US. Expect the company will do well over the next few years but can't see strong profit growth.
TOP PICK
When you can buy this under $40, it represents excellent value. One of the best managed and capitalized financial institutions in Canada. Sees them earning roughly $3 a share this year and about $3.30-$3.40 next year. ROE is the highest in the insurance group in between 16% and 18%.
BUY
They like it. This is a good entry point. Internationally they are tremendously successful. Made a brilliant acquisition in Hancock and executed it well. Change of CEO is a risk.
BUY
Pulled back in price recently and any time it is under $40, he is interested in it. Great depth of management, which will offset the retirement of the CEO next year.
PAST TOP PICK
(A Top Pick May 9/07. Up 1%.) Earnings growth is pretty good. Good solid Hold and would Buy.
BUY
(Market Call Minute.) High quality company.
TOP PICK
Disappointed in their earnings and the stock has been under pressure. Added about $500 million new life insurance business. Growth profile in Asia grew about 22% last quarter. Trades at about 11X earnings.
BUY
Recently bought timberlands. These companies have long tailed liabilities that stretch out to 10 to 50 years. Timberland is an asset for this type of liability. He is bullish on this company. The market is undervaluing it.
TOP PICK
Great management, even though the CEO will be retiring. Good geographic diversification. Half their earnings come from the US. Very big internationally, especially in the fast-growing markets of the Far East.
BUY
Trades at 11.5X earnings, which is a slight premium to both the banks and the other insurers. Has the best long-term growth. CEO announced he would be leaving next year. Longer term he is not worried at all.
COMMENT
(Market Call Minute.) His model price is $38.88, a -1% differential.
PAST TOP PICK
(A Top Pick Dec 14/07. Down 1%.) Thought this would be stable through a difficult time in the market. As a financial it performed very well. More of a longer-term Buy and Hold. From a technical perspective, it will be trading in the low $40's for a while and in a couple of years in the high $40's.
BUY
(Market Call Minute.) For a longer-term investor, this is a Buy. One of the most superbly managed companies in Canada.
COMMENT
US insurers are trading at around 8X – 9X earnings and this one is trading at around 11X. Does not have subprime issues or exposure to the mono lines so it is solid, but in the environment, the market is shying from this. He prefers Sun Life (SLF-T), which is trading around 9X earnings.
HOLD
Question was, should he sell MFC in order to buy it back cheaper later. Answer: no. He likes MFC in the financial sector. They are less reliant on the market then banks are. If you want to have some money in the financials then MFC is a good place to be.
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