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TSE:MFC

Manulife Financial (MFC.TO)

57.03
-0.39 (0.68%)
as of Jun 19, 2026, 8:00:00 pm Market Open.
1172 watching
0
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.
HOLD
Laggard for years, and that's why he likes it. Trades at a discount, excellent international operations. Lifecos are going to benefit from higher interest rates and bond yields. He also owns SLF, and it's probably done a better job over the last decade.
BUY
Still one of his favourites. Compelling valuation, at book value. The group is at a discount to the banks. You have to be a long-term player for this group. Good place to enter today for the long term. Yield over 5%.
BUY
Financials as a group are neutral. Yield is 5%, growing around 10%, very attractive. Rates are slowly going to work their way higher over several years. Will benefit from an improving equity market. One you can put away and get a good total return.
BUY
MFC is still dealing with fallouts from financial crisis. It's all about getting back to that growth phase. Asian business is still tough. You can buy it here, and share price will slowly creep up over time as it invests in core businesses. Yield is 5.5%.
PAST TOP PICK
(A Top Pick Sep 13/21, Down 0.1%) It is much above the rest and he has been building up their position as well as increasing the weighting level. Now equal to the banks. Higher interest rates are good for Lifecos. Pension funds can do well with even an interest rate of 3 to 4% since they have been diversifying away from the traditional substantial fixed income holdings.
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