
TSE:MFC
This summary was created by AI, based on 27 opinions in the last 12 months.
Manulife Financial (MFC) is viewed positively by many experts, who highlight its strong performance in Asia and robust wealth management services. The company is seen as a good long-term investment, particularly due to its attractive dividend yield and relatively low price-to-earnings ratio compared to banks. However, there are concerns regarding short-term earnings fluctuations, particularly in alternative portfolio results and U.S. operations. Market analysts suggest that while the stock has had a good run, cautious investors should watch for strategic entry points, as some believe it may be susceptible to macroeconomic challenges. Overall, the sentiment is that MFC is a solid income stock with potential for growth as it continues to navigate its complex business landscape.
If the economy recovers in the next 2 years, amongst the best performing sectors are going to be lifecos because this is a whole industry that has been viciously beaten down by low interest rates. If you have a long enough time rising, you can absolutely have a positive return on lifecos but this company would not be his favourite.
Outlook in 12 months? He has added to his holdings recently. 2 things are big negatives for this company. Falling stock market and falling bond yields. Their hedging programs are protecting them much more than he used to. Operations are starting to do better. Core operating earnings are probably running around $1.20-$1.30 a share, which gives you less than a 10X multiple. Can see leverage upside from improvements in the market generally. Risk/reward is great. 4.6% dividend yield.