Manulife Financial
MFC-T
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About Manulife Financial (MFC-T)
Manulife Financial Corporation is a Canadian multinational insurance company and financial services provider headquartered in Toronto, Ontario, Canada.
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COMMENT
COMMENT
May 21, 2019
Upside potential with exposure to Asian market? Not expensive trades a 9-10X earnings, 4.1% dividend yield. Asian franchise has been fantastic and growing but hasn't offset their terrible U.S. franchise which has been depressing their return on equity. Has grown the asset under management business globally but has had some net outflows on the asset management side. Great chance to grow the Asian franchise, has a great brand name in Asia. Not expensive, nice dividend.
Upside potential with exposure to Asian market? Not expensive trades a 9-10X earnings, 4.1% dividend yield. Asian franchise has been fantastic and growing but hasn't offset their terrible U.S. franchise which has been depressing their return on equity. Has grown the asset under management business globally but has had some net outflows on the asset management side. Great chance to grow the Asian franchise, has a great brand name in Asia. Not expensive, nice dividend.
insurance
HOLD
HOLD
May 16, 2019
Preferreds are a hold or sell? The preferreds have been terrible performers as the resets are lower because interest rates have been lower. He doesn't like resets but they are doing OK now. Manulife got good results.
Preferreds are a hold or sell? The preferreds have been terrible performers as the resets are lower because interest rates have been lower. He doesn't like resets but they are doing OK now. Manulife got good results.
insurance
BUY
BUY
May 14, 2019
vs. the Canadian banks It's not an either-or question. You can buy both. The new CEO has done a very good job to put aside the legacy businesses that are a drag. They have high-growth insurance business in Asia. MFC has lagged SLF the past few years in terms of stock price, but MFC's earnings should outpace SLF's. Also, MFC is closer to book value than SLF. It pays a good dividend. The banks are attractively priced too.
vs. the Canadian banks It's not an either-or question. You can buy both. The new CEO has done a very good job to put aside the legacy businesses that are a drag. They have high-growth insurance business in Asia. MFC has lagged SLF the past few years in terms of stock price, but MFC's earnings should outpace SLF's. Also, MFC is closer to book value than SLF. It pays a good dividend. The banks are attractively priced too.
insurance
WAIT
WAIT
May 14, 2019
The word hope is always mentioned with MFC as in hoping the price rises to $30. That said, MFC is Scotiabank's top insurance pick. It's the only one to exceed EPS expectations. All Canadian insurers need the markets to do better and be less volatile. MFC's wealth management had outflows of $9 billion last quarter; this quarter only $1 billion which is good. EPS grew 20% in the last quarter. He will wait till MFC breaks out of its 10-year trendline.
The word hope is always mentioned with MFC as in hoping the price rises to $30. That said, MFC is Scotiabank's top insurance pick. It's the only one to exceed EPS expectations. All Canadian insurers need the markets to do better and be less volatile. MFC's wealth management had outflows of $9 billion last quarter; this quarter only $1 billion which is good. EPS grew 20% in the last quarter. He will wait till MFC breaks out of its 10-year trendline.
insurance
COMMENT
COMMENT
May 10, 2019
It scores well on valuation -- 99 percentile. Only 9 times PE. Good yield which is safe. An interest rate cut would hurt their margins and possibly their share price. Without global growth turning around yet, rates could come under pressure. Yield 4%
It scores well on valuation -- 99 percentile. Only 9 times PE. Good yield which is safe. An interest rate cut would hurt their margins and possibly their share price. Without global growth turning around yet, rates could come under pressure. Yield 4%
insurance
BUY
BUY
May 7, 2019
Why hasn't it taken off? He loves it this year, outperforming the banks. He sees great upside. They're buying back a lot of shares. That lawsuit overhang is gone. It's trading below historical valuation.
Why hasn't it taken off? He loves it this year, outperforming the banks. He sees great upside. They're buying back a lot of shares. That lawsuit overhang is gone. It's trading below historical valuation.
insurance
WEAK BUY
WEAK BUY
May 6, 2019
He has a small position. He lightened it in the past. He would buy on a pullback. Asia looks promising. We have not seen a whole lot of growth out of their Asia operations so far, however. He has difficulty with their growth model otherwise. (Analysts’ price target is $29.00)
He has a small position. He lightened it in the past. He would buy on a pullback. Asia looks promising. We have not seen a whole lot of growth out of their Asia operations so far, however. He has difficulty with their growth model otherwise. (Analysts’ price target is $29.00)
insurance
COMMENT
COMMENT
May 2, 2019
Their bet on Asia paid off. One of the major headwinds is interest rates. Over ten years you were just clipping the dividend. If you think interest rates are headed higher then you would be more bullish or if you agree with him that they are going lower then you would stay away. (Analysts’ price target is $28.58)
Their bet on Asia paid off. One of the major headwinds is interest rates. Over ten years you were just clipping the dividend. If you think interest rates are headed higher then you would be more bullish or if you agree with him that they are going lower then you would stay away. (Analysts’ price target is $28.58)
insurance
PAST TOP PICK
PAST TOP PICK
May 2, 2019
(A Top Pick May 03/18, Up 8%) They beat earnings. Still modeling good growth and trading at ridiculously low valuation. Still there.
(A Top Pick May 03/18, Up 8%) They beat earnings. Still modeling good growth and trading at ridiculously low valuation. Still there.
insurance
COMMENT
COMMENT
April 30, 2019
It's trying to break through consolidation now or it could pause. It moves up and down and this pattern may continue, meaning falling back to the lower trading range of $22.
It's trying to break through consolidation now or it could pause. It moves up and down and this pattern may continue, meaning falling back to the lower trading range of $22.
insurance
BUY
BUY
April 29, 2019
How to collect the dividend? It should be no problem, unless you're enrolled in a DRIP. Their yield is 4% and they certainly pay it. Their payout ratio at only 9%, which they can easily maintain. Earnings are up 10% in the recent quarter with the company quarter expected to be up another 8%, but there'll be glacial growth in the coming year of 5%. ROE of 14% is reasonable. 2020's earnings growth expected to be 9%. 5-9% earnings growth is okay. Look out for what happens to interest rates and bond yields.
How to collect the dividend? It should be no problem, unless you're enrolled in a DRIP. Their yield is 4% and they certainly pay it. Their payout ratio at only 9%, which they can easily maintain. Earnings are up 10% in the recent quarter with the company quarter expected to be up another 8%, but there'll be glacial growth in the coming year of 5%. ROE of 14% is reasonable. 2020's earnings growth expected to be 9%. 5-9% earnings growth is okay. Look out for what happens to interest rates and bond yields.
insurance
DON'T BUY
DON'T BUY
April 25, 2019
Issue is the short report, though this has been resolved. Issue in general with insurers is they have difficult time making money in low interest rate environment. Trying to grow in Asia. Not expensive, and over 4% dividend yield. Hard to see where sustainable growth will come going forward. Good dividend yield and a bit of growth over time, but not an exciting growth story. It'll be stuck in the 20s.
Issue is the short report, though this has been resolved. Issue in general with insurers is they have difficult time making money in low interest rate environment. Trying to grow in Asia. Not expensive, and over 4% dividend yield. Hard to see where sustainable growth will come going forward. Good dividend yield and a bit of growth over time, but not an exciting growth story. It'll be stuck in the 20s.
insurance
BUY
BUY
April 15, 2019
The court ruled in MFC's favour and is now in the past. They just did an executive shake-up. He thinks MFC is going in the right direction, but keep an eye on it. Interest rates are pretty good now for the insurers. MFC has done a good job using automation to reduce costs.
The court ruled in MFC's favour and is now in the past. They just did an executive shake-up. He thinks MFC is going in the right direction, but keep an eye on it. Interest rates are pretty good now for the insurers. MFC has done a good job using automation to reduce costs.
insurance
BUY
BUY
April 10, 2019
SLF vs. MFC Owns MFC which has underformed SLF, so there's room for catch-up. MFC has a more attactive multiple. Its new CEO has boxed out legacy businesses to focus on growth in China which accounts for 25% of revenues. Trades at 8x forward earnings and 1x price-to-book. Also pays a good dividend.
SLF vs. MFC Owns MFC which has underformed SLF, so there's room for catch-up. MFC has a more attactive multiple. Its new CEO has boxed out legacy businesses to focus on growth in China which accounts for 25% of revenues. Trades at 8x forward earnings and 1x price-to-book. Also pays a good dividend.
insurance
HOLD
HOLD
April 5, 2019
Short sellers? This has been a heart breaker through is career. One of Canada's largest companies and a bell weather for financials. He would buy it for the dividend and diversification away from the banks. It is unlikely to trade back to $30 soon. He would see $20 as key support.
Short sellers? This has been a heart breaker through is career. One of Canada's largest companies and a bell weather for financials. He would buy it for the dividend and diversification away from the banks. It is unlikely to trade back to $30 soon. He would see $20 as key support.
insurance
Jeff Parent B. Eng. FCSI CIM
VP & Portfolio Manager, Chief Investment Officer, Castlemoore Inc.
$23.620
Unknown
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