|Bid||24.15 x 0|
|Ask||24.16 x 0|
|Day's Range||23.81 - 24.28|
|52 Week Range||18.33 - 25.18|
|Beta (3Y Monthly)||1.62|
|PE Ratio (TTM)||8.46|
|Earnings Date||Nov 6, 2019|
|Forward Dividend & Yield||1.00 (4.14%)|
|1y Target Est||28.86|
Effective on or about October 21, 2019, Manulife Fundamental Equity Class will undergo an investment strategy change, increasing the minimum Canadian content in the fund from 51% to 90%. The change in strategy will closer align it in portfolio composition to Manulife Canadian Equity Private Pool, also managed by Patrick Blais, head of the Manulife Fundamental Equity Team.
Pursuant to the NCIB, the Fund proposes to purchase through the facilities of the TSX, from time to time, if it is considered advisable, up to 423,340 Class A Units of the Fund, representing 10% of the public float, which is the same number as the Fund's issued and outstanding Class A Units, being 4,233,400 Class A Units as of the close of business on September 3, 2019. Purchases of Class A Units under the NCIB may commence on September 17, 2019. Manulife Investment Management Limited, the manager of the Fund, believes that such purchases are in the best interests of the Fund and are a desirable use of the Fund's assets.
TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:Toronto Stock Exchange (16,643.28, up 32.14 points).First Quantum Minerals Ltd. (TSX:FM). Materials. Up 79 cents, or 8.55 per cent, to $10.03 on 11.8 million shares.Aurora Cannabis Inc. (TSX:ACB). Health care. Down 76 cents, or 8.93 per cent, to $7.75 on 11.3 million shares.Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Unchanged at $33.52 on 8.8 million shares.Encana Corp. (TSX:ECA). Energy. Down eight cents, or 1.28 per cent, to $6.19 on 8.3 million shares.Manulife Financial Corp. (TSX:MFC). Financials. Up 17 cents, or 0.72 per cent, to $23.92 on 8.1 million shares.Baytex Energy Corp. (TSX:BTE). Energy. Up three cents, or 1.6 per cent, to $1.90 on 7.8 million shares. Companies in the news:Empire Co. Ltd. (TSX:EMP.A). Down 23 cents to $35.64. Empire Co. Ltd. says it has largely completed major structural changes as part of a turnaround plan but it is already looking to the next phase for the company. The parent company of the Safeway and Sobeys grocery chains says it achieved $200 million in benefits in fiscal 2019 and expects another $250 million in benefits in the final year of the three-year program it called Project Sunrise. For the first quarter it earned a profit of $130.6 million, up from $95.6 million in the same quarter last year.Aimia Inc. (TSX:AIM). Down one cent to $3.37. A group of shareholders at Aimia Inc. is seeking to overthrow half of the board, which presided over the sale of its flagship Aeroplan program earlier this year as well as months of tumult around control of the company. The group, dubbed Aimia Shareholders for Accountability, filed a formal requisition with the board Thursday demanding a special meeting to replace four directors. Charles Frischer, a Seattle-based investor who speaks for the group, is calling for himself and three others to take the place of chairman Bill McEwan and chief executive Jeremy Rabe along with two others. He notes Aimia has lost more than 80 per cent of its stock value over the past five years.Dollarama Inc. (TSX:DOL). Down 34 cents to $48.14. A protracted trade war between the United States and China could make it more challenging for Dollarama Inc. to find new products that appeal to its customers' desire to hunt for "treasures," the discount retailer's CEO said Thursday. Chinese factories are on standby and not creating new moulds or putting money into research and development on products destined for the U.S. market because of the trade instability, Neil Rossy said during a conference call about it's second-quarter results. The Montreal-based retailer reported a profit of $143.2 million in its latest quarter as its sales grew nine per cent compared with a year ago.Hudson's Bay Co. (TSX:HBC). Up one cent to $10.21. Hudson's Bay Co. reported a $984-million loss in its latest quarter as its bottom line was eroded by a number of one-time charges and its flagship Canadian retail banner experienced weaker sales compared with last year. The owner of the Hudson's Bay chain of department stores, as well as the New York-based Saks Fifth Avenue luxury chain and Saks Off 5th outlets, said the loss amounted to $5.35 per share for the quarter ended Aug. 3. That compared with a year-earlier loss of $280 million or $1.45 per share. HBC's overall revenue totalled $1.9 billion, roughly the same as a year ago, while comparable sales fell 0.4 per cent.Transat AT Inc. (TSX:TRZ). Unchanged at $15.20. Transat AT Inc.'s third-quarter net loss more than doubled from the same time last year as the tour operator worked to complete its takeover by Air Canada. The Montreal-based company lost $11 million in the quarter ended July 31 versus its $5-million net loss the year prior. The push to close Transat's sale to Air Canada heaped on an extra $14 million in costs in its third quarter, including $6 million in professional fees and $7.7 million in stock-based compensation for executives. Offsetting part of the expense were more travellers opting to book last-minute flights — typically pricier than long-term bookings — in a "surprising" trend that boosted revenue per passenger, chief operating officer Annick Guerard said.The Canadian Press
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(Bloomberg) -- Saudi Arabia held discussions with some of the kingdom’s wealthiest families about becoming anchor investors in Aramco’s mammoth stake sale, according to five people with knowledge of the talks.Saudi officials made initial contact with some top business families on behalf of the oil giant, the people said, asking not to be identified because the information is private. Aramco may hold more formal meetings as early as next week after banks have been hired for the sale, three of the people said.The kingdom is aiming to raise at least 1% to 2% of Aramco from these investors, according to one of the people. The amount each family invests will likely hinge on the company’s valuation, another person said.The move underscores Saudi Arabia’s desire to ensure there’s enough demand for what could be the biggest initial public offering. The kingdom’s economy is struggling to shake off the impact of lower oil prices and a 2017 purge that ensnared dozens of billionaires and officials. The crackdown undermined business confidence and prompted many billionaires to consider shifting some of their fortune abroad.If local investors participate in the IPO at a “high valuation, this could improve the prospects for an international version, by setting the bar at a different level,” said Richard Segal, a senior emerging-markets analyst at Manulife Asset Management in London. ”The government could encourage this participation through quid pro quos.”A spokesman for Aramco wasn’t immediately able to comment.Some of the families that have been approached had relatives briefly held in the Ritz-Carlton hotel in Riyadh as part of the purge, which the government called an anti-corruption crackdown, one of the people said. They aren’t, however, being forced to invest because of that, the person said.Anchor investors usually commit to buying shares in a company before an IPO is opened up to other investors to control pricing and ensure that the sale is successful.Saudi Crown Prince Mohammed Bin Salman, the architect of the IPO plan, has said he expects Aramco to be valued at over $2 trillion, but analysts see $1.5 trillion as more realistic. The company aims to select underwriters this week and is considering selling shares on the Saudi stock exchange this year or early next, with a potential international listing at a later date, Bloomberg News has reported.“There is a lot of domestic liquidity but not enough to move the needle that much. As a result, the signalling impact would be more important,” Segal said, adding that a $2 trillion valuation to international markets still sounds high.Selling a stake in Aramco is a key part of the prince’s blueprint to wean Saudi Arabia off its reliance on oil, with the proceeds expected to be invested back into the economy. Plans for the IPO were put on hold last year as Aramco focused on the $69 billion acquisition of a majority stake in Saudi Basic Industries Corp.As preparations for the IPO gather pace, the kingdom named the head of its sovereign wealth fund as Aramco chairman, replacing Khalid Al-Falih, who was also later removed as energy minister.(Adds analyst comments in the fifth and ninth paragraphs.)\--With assistance from Alaa Shahine and Matthew Martin.To contact the reporters on this story: Archana Narayanan in Dubai at firstname.lastname@example.org;Dinesh Nair in London at email@example.com;Nayla Razzouk in Dubai at firstname.lastname@example.orgTo contact the editors responsible for this story: Stefania Bianchi at email@example.com, Alaa ShahineFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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C$ unless otherwise stated TSX/NYSE/PSE: MFC SEHK: 945 TORONTO , Sept. 4, 2019 /CNW/ - Roy Gori , President and Chief Executive Officer of Manulife, will speak at the ...
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TORONTO, Aug. 22, 2019 /CNW/ - Manulife Investment Management announced today that it has been recognized with top scores (A+ and A) in all submitted categories from the United Nations-supported Principles for Responsible Investment (PRI) annual Environmental, Social and Governance (ESG) assessment report for 2018. Manulife Investment Management received a score of A+ from the United Nations' Principles for Responsible Investment (PRI) on the Strategy and Governance module for its approach to integrating ESG considerations into business investment practices across a range of asset classes.
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C$ unless otherwise stated TSX/NYSE/PSE: MFC SEHK: 945 TORONTO , Aug. 20, 2019 /CNW/ - Manulife Investment Management today announced that the risk ratings of certain of its exchanged-traded funds ...
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TORONTO, Aug. 9, 2019 /CNW/ - Earlier today the Government of Canada announced changes to the Patented Medicine Price Review Board. "Manulife strongly supports measures to reduce the cost of medications," said Donna Carbell, Head of Group Benefits, Manulife Canada.