Ultime notizie per Manulife Financial (NYSE:MFC) Azioni

Manulife Financial

Manulife Financial provides life insurance, annuities, and asset management products to individuals and group customers in Canada, the United States, and Asia. Its investment management business contributes approximately 20% of its earnings and has around CAD 1.05 trillion in assets under management and administration as of the end of 2023. The US business, which primarily operates under the John Hancock brand, contributes about 27% of earnings and is mainly focused on providing insurance products for estate, business, and income protection. The Asia segment provides insurance products and insurance-based wealth accumulation products in over 11 countries and contributes around 30% of earnings. The Canadian business segment contributes approximately 23% of earnings.

Manulife Financial Corporation Common Stock

Manulife Financial Corp

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RBC Capital analyst Darko Mihelic reiterates Manulife Financial (TSX:<a class="ticker" href="https://www.benzinga.com/stock/MFC#TSX">MFC</a>) with a Outperform and maintains C$49 price target.

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TSX:MFC

RBC Capital Reiterates Outperform on Manulife Financial, Maintains C$49 Price Target

To support this transition, following Gori's retirement he has agreed to serve as an Advisor through August 31, 2025.

Management

Manulife Financial President And CEO Roy Gori Intends To Retire, Effective May 8, 2025, With Phil Witherington Appointed As His Successor

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Manulife Financial shares are trading higher after the company reported better-than-expected Q3 adjusted EPS, with sales in line with estimates.

Manulife Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MFC#NYSE">MFC</a>) reported quarterly earnings of $0.73 per share which beat the analyst consensus estimate of $0.67 by 8.96 percent. This is a 6.41 percent increase over earnings of $0.69 per share from the same period last year. The company reported quarterly sales of $1.51 billion which met the analyst consensus estimate. This is a 13.32 percent increase over sales of $1.33 billion the same period last year.

Earnings

Earnings Beats

Manulife Financial Q3 Adj $0.73 Beats $0.67 Estimate, Sales $1.51B Inline

Manulife Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MFC#NYSE">MFC</a>) reported quarterly earnings of $1.00 per share which beat the analyst consensus estimate of $0.94 by 6.38 percent. The company reported $1.800 billion in sales this quarter. This is a 35.44 percent increase over sales of $1.329 billion the same period last year.

Manulife Financial Q3 2024 Adj. EPS $1.00 Beats $0.94 Estimate, Sales $1.800B Up From $1.329B YoY

Manulife Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MFC#NYSE">MFC</a>) will release its quarterly earnings report on Wednesday, 2024-11-06. Here's a brief overview for investors ahead of the announcement.
Analysts anticipate Manulife Financial to report an earnings per share (EPS) of $0.67.
The announcement from Manulife Financial is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Overview of Past Earnings</h3>
During the last quarter, the company reported an EPS beat by $0.02, leading to a 2.57% increase in the share price on the subsequent day.
Here's a look at Manulife Financial's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.65</td>
<td>0.67</td>
<td>0.63</td>
<td>0.610</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.67</td>
<td>0.70</td>
<td>0.68</td>
<td>0.686</td>
</tr>
<tr>
<td>Price Change %</td>
<td>3.0%</td>
<td>5.0%</td>
<td>10.0%</td>
<td>3.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730836926_0_0.png" alt="eps graph" />
<h3>Market Performance of Manulife Financial's Stock</h3>
Shares of Manulife Financial were trading at $29.7 as of November 04. Over the last 52-week period, shares are up 66.34%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/MFC/earnings">To track all earnings releases for Manulife Financial visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What's Next: Manulife Financial's Earnings Preview

Shares of Manulife Financial Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mfc#NYSE">MFC</a>) closed at $28.87 on Thursday, near its 52-week high of $28.89. A strong-performing Asia business, expanding Wealth and Asset Management business and a solid capital position are driving the stock price higher.
The company is one of the three dominant life insurers within its domestic Canadian market and possesses rapidly growing operations in the United States and several Asian countries. Earnings grew 4.9% in the last five years, better than the industry average of 4.6%.
Shares have rallied 30.6% year to date, outperforming the industry&#39;s increase of 19%, the Finance sector&#39;s increase of 13.7% and the S&amp;P 500 composite&#39;s rise of 17.7%.
<h2>MFC Outperforms Industry, Sector, S&amp;P 500 YTD</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/d1/78668.jpg?v=2085214265" />
Image Source: Zacks Investment Research
MFC shares are trading well above the 50-day moving average, indicating a bullish trend.
<h2>MFC&#39;s Return on Equity</h2>
Manulife&#39;s return on equity (ROE) for the trailing 12 months is 16.2%, better than the industry average of 15.5%. This reflects Manulife&#39;s efficiency in utilizing shareholders&#39; funds. It expects to generate a ROE of more than 18% by 2027.
<h2>Optimistic Growth Outlook</h2>
The Zacks Consensus Estimate for 2024 and 2025 earnings per share is pegged at $2.72 and $2.86, respectively, suggesting an increase of 5.8% and 5.2% year over year. The long-term earnings growth rate is currently pegged at 10%. Manulife expects core EPS growth of 10-12% over the medium term.&nbsp;
<h2>Factors Favoring MFC</h2>
Manulife&#39;s Asia business continues to be a major contributor to earnings. Asia has been the fastest-growing insurance segment, supported by strong volume growth and attractive margins. This market appears attractive, given its changing demographics. MFC now expects core earnings from Asia to contribute 50% to overall earnings by 2027.
As part of its strategic priorities, Manulife is also investing in high ROE and growth segments in North America.&nbsp; The company&#39;s highest potential businesses, including operations in Asia, Global WAM, Canada group benefits and behavioral insurance products, currently contribute two-thirds to core earnings. The insurer now looks to increase it to 75% and thus is expediting growth in these highest potential businesses.
In tandem with the wave of digitalization going on, MFC is digitalizing and automating workflows through GenAI and advanced analytics.&nbsp; Accelerated digitalization should help it achieve an expense efficiency ratio of less than 45% in the medium term.
Manulife has been strengthening its balance sheet by improving liquidity and leverage. It targets a leverage ratio of 25%. Notably, its free cash flow conversion has remained more than 100% over the last many quarters, reflecting its solid earnings.
The life insurer, banking on consistent cash flow, hiked dividends at a six-year CAGR of 10% and targets a 35-45% dividend payout over the medium term.
<h2>Concerns Regarding MFC</h2>
Despite the upside potential, there are a few factors that investors should keep an eye on.
Manulife targeted an expense efficiency ratio of less than 50% or $1 billion in cost savings and avoidance.&nbsp; It is on track to deliver an efficiency ratio of less than 45% in the future. However, its net margin has been contracting over the last six quarters.
Manulife draws a substantial portion of its earnings from the international market, which makes its profitability vulnerable to foreign exchange losses. In an attempt to lower its forex exposure, the company has started incurring hedging costs.
Though the leverage has been gradually improving, times interest earned has been declining.
The return on invested capital in the trailing 12 months was 0.66%, comparing unfavorably with the industry average of 0.68%, reflecting the insurer&#39;s inefficiency in utilizing funds to generate income.
<h2>MFC Shares Expensive&nbsp;</h2>
MFC shares are trading at a price-to-earnings multiple of 10.23, higher than the industry average of 8.40.
Shares of other insurers like Sun Life Financial&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/slf#NYSE">SLF</a>) and Aflac Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/afl#NYSE">AFL</a>) are trading at a multiple higher than the industry average.
<h2>Parting Thoughts</h2>
MFC&#39;s focus on building a high-growth, high-return and high cash generation company, wealth distribution to shareholders and ROE expansion instills confidence in this Zacks Rank #3 (Hold) insurer.
However, given the stock&#39;s premium valuation, it will be wise for new investors to wait for a better entry point.
Investors who already hold MFC stock should retain it, given its growth prospects.
<a href="https://www.zacks.com/stock/news/2339314/mfc-stock-near-52-week-high-should-you-buy-or-wait-for-a-pullback?cid=CS-BENZ-FT-analyst_blog|rank_focused-2339314">To read this article on Zacks.com click here.</a>

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Shares of companies within the broader financial sector are trading higher amid overall market strength following Fed Chair Powell's comments about the economy and future rate cuts.

RBC Capital analyst Darko Mihelic maintains Manulife Financial (TSX:<a class="ticker" href="https://www.benzinga.com/stock/MFC#TSX">MFC</a>) with a Outperform and raises the price target from C$38 to C$39.

RBC Capital Maintains Outperform on Manulife Financial, Raises Price Target to C$39

Manulife Financial Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mfc#NYSE">MFC</a>) delivered second-quarter 2024 core earnings of 66 cents per share, which beat the Zacks Consensus Estimate by 3.1%. The bottom line improved 6.4% year over year.
<div class="chart_embed">
Manulife Financial Corp Price, Consensus and EPS Surprise
<img alt="Manulife Financial Corp Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/52/1723120916.png" style="height:265px; width:577px" title="" />
Manulife Financial Corp price-consensus-eps-surprise-chart | Manulife Financial Corp Quote
Core earnings of $1.3 billion (C$1.7 billion) increased 8.3% year over year. The improvement was driven by continued business growth momentum and updates to actuarial methods and assumptions in the second half of 2023, higher fee income from favorable market impacts and positive net flows, a favorable tax true-up, strong growth in Group Insurance and favorable net insurance experience.
New business value (NBV) in the reported quarter was $528 million (C$723 million), up 21.4% year over year.
New business contractual service margin of $459 million (C$628 million) rose 4.1% year over year.
Annualized premium equivalent (APE) sales increased 16.7% year over year to $1.4 billion (C$1.9 billion), attributable to higher sales in Asia and Canada.
The expense efficiency ratio increased 30 basis points (bps) to 45.4%. The increase reflects a rise of 6% and 7% in pre-tax core earnings and core expenses, respectively.
Wealth and asset management assets under management and administration were $682 billion (C$933.1 billion), up 10.3% year over year. 
Retail net outflows of $0.1 billion remained unchanged year over year, as increased demand for investment products amid equity market recovery and improved investor sentiment was offset by higher redemptions.
Core return on equity, measuring the company&#39;s profitability, expanded 20 bps year over year to 15.7%. The financial leverage ratio deteriorated 120 basis points to 24.6% at the end of the quarter.
Life Insurance Capital Adequacy Test ratio was 139% as of Jun 30, 2024, up from 136% reported in the year-ago quarter.
Adjusted book value per common share was $33.96, up 15% year over year.
</div>
<h3>Segmental Performance</h3>
Global Wealth and Asset Management division&#39;s core earnings came in at $291.6 million (C$399 million), up 22.5% year over year.
Asia division&#39;s core earnings totaled $472 million, up 40% year over year. NBV, APE sales and new business CSM increased 19%, 7% and 10%, respectively, year over year, reflecting higher sales volumes in Japan and Hong Kong.
Manulife Financial&#39;s Canada division&#39;s core earnings of $294 million (C$402 million) were up 6.1% year over year. APE sales and NBV increased 61% and 50%, respectively, driven by higher sales volumes in all business units, led by a large-case Group Insurance sale. New business CSM grew 33%, driven by margin expansion in Individual Insurance and higher sales volumes in segregated fund products.
The U.S. division reported core earnings of $303 million, down 11% year over year. APE sales decreased 4% year over year with a shift in product mix, while NBV grew 3%. New business CSM decreased 30% due to a change in product mix and the impact of higher interest rates.
<h3>Zacks Rank</h3>
Manulife Financial currently carries a Zacks Rank #4 (Sell).
<h3>Performance of Other Life Insurers</h3>
Voya Financial, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/voya#NYSE">VOYA</a>) reported second-quarter 2024 adjusted operating earnings of $2.27 per share, which beat the Zacks Consensus Estimate by 3.6%. The bottom line, however, decreased 1.7% year over year. Adjusted operating revenues amounted to $324 million, down 6.6% year over year. The top line missed the Zacks Consensus Estimate by 0.4%.
Net investment income declined 5% year over year to $518 million. Premiums totaled $790 million, up 16.7% from the year-ago quarter. As of Jun 30, 2024, VOYA&#39;s assets under management, assets under administration and advisement totaled $861.3 billion.
Lincoln National Corporation&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lnc#NYSE">LNC</a>) second-quarter 2024 adjusted earnings of $1.84 per share beat the Zacks Consensus Estimate by 3.4%. However, the bottom line declined 8.9% year over year. Adjusted operating revenues of $4.5 billion dropped 4.3% year over year in the quarter under review. The top line lagged the consensus mark by 2.7%.
Fee income declined 1.9% year over year to $1.3 billion, which missed the Zacks Consensus Estimate by 2.1%. Insurance premiums of $1.6 billion rose 0.8% year over year. The metric beat the consensus mark by 0.7%. Net investment income of $1.3 billion dipped 11.7% year over year and missed the consensus mark by 1.7%. Meanwhile, other revenues fell 5.9% year over year.
Reinsurance Group of America, Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rga#NYSE">RGA</a>) reported second-quarter 2024 adjusted operating earnings of $5.48 per share, which beat the Zacks Consensus Estimate by 10.9%. The bottom line increased 24.5% from the year-ago quarter. Net foreign currency fluctuations had a favorable effect of 6 cents per share on adjusted operating income compared with the prior year. RGA&#39;s operating revenues of $5.1 billion improved 20.3% year over year, driven by higher net premiums, investment income, net of related expenses and other revenues. It beat the consensus estimate by 4.7%.
Net premiums of $3.9 billion jumped 17.5% year over year. Investment income and net of related expenses increased 26.3% from the prior-year quarter to $1.1 billion. The average investment yield increased 23 basis points to 4.65%, primarily due to higher new money rates. Total benefits and expenses at Reinsurance Group climbed 18.5% year over year to $4.6 billion.
<a href="https://www.zacks.com/stock/news/2319430/manulife-mfc-q2-earnings-beat-estimates-nbv-sales-rise-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2319430">To read this article on Zacks.com click here.</a>

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Shares of companies within the broader financial sector are trading lower amid overall market weakness following weak US jobs data.

TD Securities analyst Mario Mendonca maintains Manulife Financial (TSX:<a class="ticker" href="https://www.benzinga.com/stock/MFC#TSX">MFC</a>) with a Buy and raises the price target from C$38 to C$40.

TD Securities Maintains Buy on Manulife Financial, Raises Price Target to C$40

Manulife Investment Management Announces Strategic Partnership With Foundry Commercial To Acquire, Develop, And Lease Industrial Outdoor Storage Sites In Key Infill Industrial Markets Throughout The Southeast; Portfolio Includes 10 Sites In Atlanta, Nashville, Dallas-Fort Worth, And Jacksonville

Guidance

Manulife Financial Increases Its Core ROE Target To 18% Plus By 2027

Manulife and World Economic Forum Launch Prospering in Longevity Challenge Through UpLink; Multi-Year Partnership Aims to Shape Future and Funding of Longevity Innovation

Announces longevity preparedness research; builds on insurer's commitment to help people live longer, healthier, better lives
BOSTON, May 14, 2024 /PRNewswire/ - John Hancock, along with its Toronto-based parent company Manulife (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MFC#NYSE">MFC</a>), today announced a five-year, multimillion-dollar research collaboration with the Massachusetts Institute of Technology (MIT) AgeLab, a multi-disciplinary research institute that works with business, government, and NGOs, leading innovation and research to help improve the quality of life for the aging population and their loved ones. Over the next five years, Manulife/John Hancock and the MIT AgeLab will collaborate to research the future of longevity innovation, developing research, thought leadership, and workshops with the goal of driving actionable insights for the business community, policymakers, and individuals and their families.

Manulife/John Hancock Enters 5-Year, Research Collaboration With MIT AgeLab, Driving Longevity Innovation And Research

Manulife Financial shares are trading higher after the company reported better-than-expected Q1 adjusted EPS results.

Manulife Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MFC#NYSE">MFC</a>) reported quarterly earnings of $0.70 per share which beat the analyst consensus estimate of $0.67 by 4.48 percent. This is a 20.69 percent increase over earnings of $0.58 per share from the same period last year. The company reported quarterly sales of $1.39 billion which missed the analyst consensus estimate of $1.47 billion by 5.44 percent. This is a 46.46 percent decrease over sales of $2.60 billion the same period last year.

Earnings Misses

Manulife Financial Q1 Adj EPS $0.70 Beats $0.67 Estimate, Sales $1.39B Miss $1.47B Estimate

Manulife Investment Management announced today it has closed on the&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4132308-1&amp;h=2768007410&amp;u=https%3A%2F%2Fwww.manulifeim.com%2Finstitutional%2Fus%2Fen%2Fabout-us%2Fpress-releases%2Fmanulife-investment-management-to-acquire-multi-sector-alternative-credit-manager&amp;a=previously+announced+agreement" target="_blank">previously announced agreement</a>&nbsp;to acquire multi-sector alternative credit manager CQS. Regulatory approval for this transaction was received from the U.K. Financial Conduct Authority. The acquisition accelerates growth for the firm and advances its strategy as a leading global wealth and asset manager providing income solutions across the credit spectrum to retail, institutional and retirement investors.
As part of the transaction, Manulife Investment Management has acquired the CQS brand and intends to align it with the Manulife brand as a co-branded logo &ndash; Manulife &#x7C; CQS Investment Management &ndash; where permitted.&nbsp;

Manulife Financial Corp's Manulife Investment Management Completes Acquisition of Multi-Sector Alternative Credit Manager CQS, Financial Terms Remain Undisclosed

DBS analyst Ken Shih maintained a Buy rating on Manulife Financial (MFC – Research Report) today and set a price target of HK$280.00. The company's...

DBS Keeps Their Buy Rating on Manulife Financial (MFC)

Manulife Financial: Continued Strength In Asia Drives Growth And ROE Expansion

Manulife announces C$5.4B reinsurance transaction

Reinsurance Group (RGA) and John Hancock, a subsidiary of Manulife Financial (MFC), an international financial services group, announced an agreeme...

Reinsurance Group announces $4.1B coinsurance transaction with Manulife Financial

Manulife Financial (MFC) announced that it has entered into a C$5.4B reinsurance agreement with Reinsurance Group of America, including C$2.4B of l...

Manulife Financial announces C$5.4B reinsurance transaction with RGA

RGA sees Manulife reinsurance deal adding to 2025 earnings

Manulife Financial (TSE:MFC) has released an update. Manulife Financial has entered a significant $5.4 billion reinsurance agreement with Reinsuran...

Manulife Financial Optimizes Portfolio with Major Reinsurance Deal

Barclays raised the firm's price target on Manulife Financial (MFC) to C$40 from C$39 and keeps an Equal Weight rating on the shares. Published fir...

Manulife Financial price target raised to C$40 from C$39 at Barclays

In a report released today, Alex Scott from Barclays maintained a Hold rating on Manulife Financial (MFC – Research Report). The company's shares c...

Manulife Financial (MFC) Receives a Hold from Barclays

Executive reshuffles: MFC, LYB, IDXX and TEX

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Press Releases

Manulife declares common share dividend

Manulife declares preferred share dividends

Manulife Investment Management Recognized by 2024 LSEG Lipper Fund Awards for Risk-Adjusted Performance

Manulife Investment Management aligns capabilities across regions under the newly created role of Global Emerging Market Equities CIO

Manulife Insurance Launches Two Guaranteed Solutions

Manulife President & CEO Roy Gori Announces His Intention to Retire in May 2025

Contracts

Manulife announces $5.4 billion reinsurance transaction, including $2.4 billion of long-term care, with RGA

Manulife Financial Corporation announces Dividend Rates on Non-cumulative Rate Reset Class 1 Shares Series 17 and Non-cumulative Floating Rate Class 1 Shares Series 18

Fintech

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Mutual Funds

Manulife Investment Management Announces November 2024 Cash Distributions for Manulife Exchange Traded Funds and Manulife ETF Series

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