|Bid||17.26 x 0|
|Ask||17.27 x 0|
|Day's Range||16.95 - 17.44|
|52 Week Range||12.58 - 27.78|
|Beta (5Y Monthly)||1.16|
|PE Ratio (TTM)||7.41|
|Forward Dividend & Yield||1.12 (6.55%)|
|Ex-Dividend Date||May 15, 2020|
|1y Target Est||N/A|
Manulife Financial Corp. (TSX:MFC)(NYSE:MFC) offers a strong mix of value and passive income in one wide-moat stock worthy of a TFSA.The post 1 Top Stock to Buy for a TFSA in June appeared first on The Motley Fool Canada.
Here I present my case on why Manulife Financial (TSX:MFC)(NYSE:MFC) is a good buy during the pandemic due to its prospect as a long-term, buy-and-hold option.The post Why Manulife Stock Is a Compelling Post-Recession Buy appeared first on The Motley Fool Canada.
(Bloomberg) -- Manulife Financial Corp., the Canadian insurance company operating in 22 markets, has raised more cash by selling bonds in May than in the past three years combined.The Toronto-based company has sold over C$3 billion ($2.2 billion) so far this month and is keeping an eye out for more opportunities to sell debt. The bonanza comes as the pandemic prompts even well-capitalized companies to gird for the economic slump.“I need to think very proactively about managing my funding needs, in general capital and liquidity, and in general over a longer horizon than I normally would,” said Halina von dem Hagen, global treasurer and head of capital management at Manulife. “In this environment, I am actually thinking like 12 months ahead.”Manulife, whose first quarter core earnings fell 34% to C$1.03 billion, sees chances of an even “more challenging” second quarter, Chief Executive Officer Roy Gori said in an interview on May 6.Manulife Financial raised around C$2.8 billion between 2017 and 2019, according to data compiled by Bloomberg. Manulife Bank, which has a separate funding plan, has raised C$2.25 billion during the three-year period.Among the transactions priced in recent weeks, Manulife issued C$2 billion of subordinated bonds in two tranches, the largest loonie-denominated bond for an insurance company. The combined order book was about C$5.7 billion. The firm also raised $700 million of seven-year senior bonds in two separate deals.Manulife’s bond sales more than doubled the firm’s C$1.14 billion of existing debt maturing, or having a call option, during the rest of the year. In 2021, Manulife has another C$2.2 billion of bonds with call options, which is a factor “we keep in mind,” von dem Hagen said.The company will continue to look for “opportunities to further strengthen what is already a very strong capital and liquidity position,” she said. “But it is all quite opportunistic because it is not on a need-to basis but a want-to basis.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Manulife (MFC) is poised to grow over the long term given its operational excellence and solid capital position.
TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:Toronto Stock Exchange (15,148.12, up 72.70 points.)HEXO Corp. (TSX:HEXO). Health care. Down 12 cents, or 11 per cent, to 97 cents on 16.8 million shares.Bombardier Inc. (TSX:BBD.B). Industrials. Up 1.5 cents, or 3.03 per cent, to 51 cents on 11.6 million shares.Suncor Energy Inc. (TSX:SU). Energy. Up 13 cents, or 0.54 per cent, to $24.33 on 11.1 million shares.Manulife Financial Corp. (TSX:MFC). Financials. Up $1.01, or 6.21 per cent, to $17.28 on 10.8 million shares.The Green Organic Dutchman Holdings. (TSX:TGOD). Health care. Down four cents, or 6.9 per cent, to 54 cents on 9.9 million shares.B2Gold Corp. (TSX:BTO). Materials. Down 53 cents, or 6.99 per cent, to $7.05 on 7.6 million shares.Companies in the news:Bank of Nova Scotia (TSX:BNS). Up $3.85, or 7.4 per cent, to $55.84. COVID-19 weighed down Bank of Nova Scotia's second quarter, causing its profit to plunge and the company to increase its reserves to cover bad loans. The Toronto-based bank reported Tuesday a profit of $1.32 billion for the period ended April 30, down sharply from a year ago. The bank's provisions for credit losses totalled nearly $1.85 billion for the quarter, more than doubling from $873 million a year earlier. On an adjusted basis, it earned $1.04 per diluted share in the quarter, up from 98 cents per share forecast by analysts and compared with $1.70 per diluted share a year ago.Roots Corp. (TSX:ROOT). Up 12 cents, or 12.6 per cent, to $1.07. Clothing retailer Roots Corp. has named Meghan Roach as its new chief executive. Roach, who has been interim chief executive since January, replaces Jim Gabel, who left the company after the board expressed a need for "renewed leadership." She joined Roots from Searchlight Capital Partners, the company's largest shareholder. Before becoming interim chief executive, Roach served as the interim chief financial officer at Roots. Roots says that given the circumstances created by the COVID-19 pandemic, Roach will forgo her salary and potential bonus payments for the remainder of 2020.National Bank of Canada (TSX:NA). Up $3.06, or 5.7 per cent, to $57.08. National Bank of Canada says its net income plunged nearly 33 per cent in its second quarter as it put aside $504 million in provisions for credit losses. The Montreal-based bank says its net income amounted to $379 million for the period ended April 30, compared to $558 million in the same quarter last year. The bank says its basic earnings per share reached $1.01 compared to $1.52 a year prior, while its diluted earnings per share stood at $1.01 in comparison to $1.51 at the same time last year. Analysts expected the bank would report diluted earnings per share of 94 cents, according to financial markets data firm Refinitiv.This report by The Canadian Press was first published May 26, 2020.The Canadian Press
We asked our writers for their top stock picks from the financial sector. Some of the picks include Toronto-Dominion Bank (TSX:TD)(NYSE:TD), goeasy Ltd (TSX:GSY), and TMX Group Ltd (TSX:X). The post Top TSX Financial Stocks for June 2020 appeared first on The Motley Fool Canada.
Financial stocks like Manulife Financial Corp. (TSX:MFC)(NYSE:MFC) have been trounced in the recent downturn. Unlike tech stocks, they have not come back from the pounding. Is it time to load up on these high-yielding stocks?The post Should I Buy These 2 Ridiculously Cheap Financial Stocks? appeared first on The Motley Fool Canada.
(Bloomberg) -- Argentina extended the deadline for bondholders to consider a $65 billion restructuring offer, buying time for more talks after the government failed to win enough support to reach a deal.The government is open to accepting offers that both allow the country to reach its debt sustainability goals and enhance creditor recoveries, according to a statement. Hours earlier, Argentina extended the deadline on its debt offer to May 22 from May 8 in a resolution published in the Official Gazette on Monday. Neither statement disclosed what percentage of investors accepted the original proposal.Argentina’s dollar bonds climbed the most in three weeks after the government announced the extension, although the securities still trade near record lows as creditors brace for steep losses.“While many of our bondholders supported Argentina’s invitation, other significant groups of creditors did not,” the Economy Ministry said in the statement.The new deadline aligns with the due date for $500 million of delayed interest payments. Failure to reach an agreement or pay the cash by that date would result in a default, Argentina’s ninth in 200 years. To close the deal, the South American nation needs the support from creditors owning at least two-thirds of some of the outstanding bonds. Bonds edged higher on optimism the country can still avoid a hard default.The government’s debt team plans to speak with individual bondholders and creditor groups over the course of the week through video conferences, according to a person with direct knowledge of the matter who asked not to be named because the discussions are private. The deadline extension was first reported by Bloomberg.In its statement, the country said it would consider in good faith any proposal that meets its debt guidelines, including combinations of interest rates, capital reduction, grace periods and extension of maturities different from those that have been proposed.The extension “will give the government time to revise its proposal on the basis of the feedback it has received,” said Richard Segal, a senior analyst at Manulife Investment Management in London, which has $409 billion of assets, including Argentine debt. “Investors recognize that Argentina can’t afford to pay much near- to medium-term.”The bonds trade at deeply distressed levels near 30 cents on the dollar. Argentina’s $4.5 billion in dollar notes due next year rose 2.2 cents to 33 cents on the dollar at market close in New York Monday.Before the original deadline on Friday, the country’s three largest creditor groups had already rejected the terms of the offer, which asked bondholders to take significant losses on interest and set a three-year grace period before any payments are made.Argentina had won the backing of the International Monetary Fund and academics including Joseph Stiglitz and Jeffrey Sachs, and insisted that even before the coronavirus pandemic began wrecking its economy, it was unable to pay what is owed.Read More: Argentina Awaits Creditor Counteroffers as Deadline Passes The South American country, which resolved its previous default just four years ago, lured billions of dollars of investment in 2016 after the inauguration of President Mauricio Macri, who had vowed to bring back economic growth. Instead, the country saw a sharp plunge in the value of its currency, accelerating inflation and a severe economic contraction. He was voted out of office last year, replaced by the left-wing Fernandez.The agriculture-driven economy is poised to contract for a third-consecutive year in 2020. Officials are battling a widening gap between Argentina’s official and unofficial exchange rates due to capital controls and annual inflation that’s still hovering above 48%.“The government insists publicly that it wants to avoid a default but the current crisis offers the perfect excuse for President Alberto Fernandez to play hardball with Argentina’s creditors,” analysts at consulting firm Teneo wrote in a note.The Province of Buenos Aires, which has followed the national government in submitting a proposal to rework $7 billion of its foreign debt, has given creditors until Monday to accept its initial offer. The province’s creditor group has panned the proposal, saying the deal represents a 60% loss to bondholders.(Updates with size and scope of bond move in third paragraph, bond price moves in ninth.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Readers hoping to buy Manulife Financial Corporation (TSE:MFC) for its dividend will need to make their move shortly...
TORONTO — Manulife Financial Corp.'s top executive says COVID-19 has caused first quarter revenues to tumble, even as the insurer rolled out a suite of digital tools to accommodate customers and employees working from home.While the Toronto-based company was scrambling to bring a new chatbot to North America, launch e-claims in Asia and revamp global sales processes to cut down on contact, its net income attributable to shareholders fell to $1.3 billion from $900 million in the same period the year before.Manulife earned 64 cents per diluted share for the three months ended Mar. 31, a 40 per cent decrease from the $1.08 per share it reported a year earlier.That was five cents higher than analysts' expectations of 59 cents, according to financial markets data firm Refinitiv, and pushed Manulife's stock up by 25 cents or 1.5 per cent at $16.69 at the close of markets Wednesday.On a Thursday morning earnings call, Roy Gori, Manulife's chief executive, was confident that the tools would help the company bounce back and combat market headwinds."When the crisis hit and isolation measures were put in place around the world, we accelerated our plan to roll out technology more broadly in the region," said Gori, about the company's non-face-to-face contact sales processes that were launched across Asia after being piloted in China. "This enabled our distribution partners and agents to engage with our customers according to their preferences. It also positions us well to capitalize on any changes in customers' sentiment post-COVID-19 and supports productivity and retention of our agency force."Such tools were launched as Manulife transitioned 99 per cent of its North American employees and 95 per cent of its global staff to work remotely.With work-from-home restrictions loosening in Asia, about 80 per cent of its staff in China have returned to its facilities and Manulife's Hong Kong office is now about 50 per cent occupied.The evening before Manulife's earnings call, Gori told The Canadian Press that he was optimistic about the pandemic's impact on his company because COVID-19 was making people more appreciative of insurance and teaching them the value of saving for retirement and having diversified wealth management."What we have seen through other pandemics like SARS, for example, is that several months after the pandemic, people start thinking more about whether they have sufficient insurance coverage," he said."At this point in time, we are certainly getting calls from customers, and some of that is around whether they should get more coverage or more protection, but we typically see there's a little bit of a lag with that."He will continue to monitor trends like that from home, where he has been working amid the pandemic.That shift has been "quite an adjustment," he admitted."I'm very much a people person so I like to meet with people face to face and discuss things and topics and brainstorm. So that's been more difficult or challenging than anything else," he said."But to be frank, when you think about the challenges that people around the world are dealing with, that challenge feels so insignificant, so it's really hard to complain about some of the awkwardness."This report by The Canadian Press was first published May 7, 2020Companies in this story: (TSX:MFC)Tara Deschamps, The Canadian Press
TORONTO — Manulife Financial Corp. says its net income attributable to shareholders tumbled to $1.3 billion in the first quarter, down $900 million from the same period the year before.The Toronto-based insurer earned 64 cents per diluted share for the three months ended Mar. 31, a 40 per cent decrease from the $1.08 per share it reported a year earlier.That was five cents higher than an analyst forecast of 59 cents, according to financial markets data firm Refinitiv.Excluding one-time items, adjusted or core earnings plunged in the same time period by 34 per cent to $1 billion or 51 cents per share from $1.5 billion or 76 cents per share.Manulife president and chief executive Roy Gori says the company's earnings were impacted by COVID-19-related disruptions to capital markets and the broader economy.Manulife shares were up by 25 cents or 1.5 per cent at $16.69 at the close of markets Wednesday.This report by The Canadian Press was first published May 6, 2020Companies in this story: (TSX:MFC)The Canadian Press
Manulife Financial Inc. (TSX:MFC)(NYSE:MFC) and Sun Life Financial (TSX:SLF)(NYSE:SLF) are two dividend stocks that can be had for cheap in this market.The post 2 Super Dividend Stocks Too Cheap to Ignore appeared first on The Motley Fool Canada.
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The 2020 market crash is harsh. However, TFSA users can load up on cheap dividend payers like the National Bank of Canada stock and Manulife stock for added tax-free gains.The post TFSA Users: 2 Insanely Cheap Stocks to Load Up on appeared first on The Motley Fool Canada.
You can use this market crash as an opportunity to double your money by investing in a stock like Manulife Financial.The post TFSA Investors: This Market Crash Could Double Your Money in 2 Years appeared first on The Motley Fool Canada.
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Manulife Financial Corp. (TSX:MFC)(NYSE:MFC) stock looks like a bargain buy after the coronavirus crash, but is it actually a deep-value play at today's levels?The post Is Manulife (TSX:MFC) Stock a Must-Buy at $17? appeared first on The Motley Fool Canada.
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Roy Gori became the CEO of Manulife Financial Corporation (TSE:MFC) in 2017. First, this article will compare CEO...