Manulife Financial (MFC.TO)

A glass half full type of stock, it's not perfect. Issues with long-duration assets right now. All this is built into the story, nothing has changed with his thesis. 7.3x 2024 earnings, 11% compelling growth rate.

It is the largest life insurance company in Canada and is strong in Asia where there is high growth. It has traded sideways recently as well as long term. Its dividend is over 6%. They sold their shares and rotated into another life insurance company

High quality. Arguably more upside than others, with its greater exposure to Asia.

Owns it for income. MFC has a wall of $27; the stock never breaches that. It's in technical prison. It goes up and down like a toilet seat. Collect the dividend.

A perennial trader between $20-30. Buy at the low end at sell at the high end if you're an active trader. Otherwise, it doesn't compare well vs. the banks or P&C insurers. Their legacy US business holds them back.

Likes insurance names broadly in the higher rate cycle. Likes this one. Likes financials to the end of this year. Wait for a breakout, or add during the upcoming correction in the next month or two. Poised to participate in the new 4-year cycle.

Lifecos could do well in the coming period. Higher rates lower their long-term costs and help ratios. He's keener on SLF, but not by a huge distance. Not a bad time to give it a look. Heavy fixed income portfolios, which now benefit from higher rates. Now diversified holdings. Higher discount rate discounts their liabilities.

It pays a 5.8% dividend and has a low valuation probably because investors are worried about its exposure to commercial real estate which is $14 billion of its $47 billion market cap. A high percentage of this is office towers.

Excellent company, owns shares in company.
~5% dividend yield.
Growing middle class & population in Canada will require insurance.
Rising interest rates will decrease liabilities (good for business).

Doesn't own any lifecos right now. Asian demographics are advantageous. Canada is slow and a steady eddy. Doesn't particularly like US John Hancock business. Tantalizing dividend yield, but shares never seem to be able to break out of a range. Trade, not a long-term investment.

Book value is $30, and it's trading below that, so you have a chance to buy it below book value. Great dividend yield. Great business in Asia is undervalued and will continue to grow. Interest rates help. Fundamentals are really strong.

Up 7.7% total return over the last 12 months. Trades below book value. As Asia continues to grow, MFC is poised to do very well long term. Resistance around $28, but if it can break through that, it will do well and you get paid to wait. Great yield of 5.6%.

Asian franchise gives it good growth potential, and that area of the world is growing faster than the others. High quality. Very well managed. Good dividend yield.

Has been a top pick of his many times. Insurers report in the coming week and it will be a confusing quarter, because there are new reporting/accounting rules that will make earnings appear lower. SLF and Industrial Alliance have more weighting in Asia than MFC, so MFC might be less stable. Likes MFC. Pays a 5.4% dividend yield.

Stable, core holding. Diversifies away from concern over banks' loan losses. Issues with US legacy businesses. Likes Asian insurance operations, will drive earnings for the long term. Yield is 5.5%.