| TOP PICK | 39.220 | John O'Connell, CFA | Disappointed in their earnings and the stock has been under pressure. Added about $500 million new life insurance business. Growth profile in Asia grew about 22% last quarter. Trades at about 11X earnings. | 2008-05-15 | |
| BUY | 37.990 | David Baskin | Recently bought timberlands. These companies have long tailed liabilities that stretch out to 10 to 50 years. Timberland is an asset for this type of liability. He is bullish on this company. The market is undervaluing it. | 2008-05-13 | |
| TOP PICK | 37.750 | Norman Levine | Great management, even though the CEO will be retiring. Good geographic diversification. Half their earnings come from the US. Very big internationally, especially in the fast-growing markets of the Far East. | 2008-05-12 | |
| BUY | 37.370 | Bruce Campbell | Trades at 11.5X earnings, which is a slight premium to both the banks and the other insurers. Has the best long-term growth. CEO announced he would be leaving next year. Longer term he is not worried at all. | 2008-05-09 | |
| Comment | 36.900 | Brian Acker, CA | (Market Call Minute.) His model price is $38.88, a -1% differential. | 2008-05-08 | |
| PAST TOP PICK | 40.290 | Jeff Parent | (A Top Pick Dec 14/07. Down 1%.) Thought this would be stable through a difficult time in the market. As a financial it performed very well. More of a longer-term Buy and Hold. From a technical perspective, it will be trading in the low $40's for a while and in a couple of years in the high $40's. | 2008-05-02 | |
| BUY | 39.370 | Michael Sprung | (Market Call Minute.) For a longer-term investor, this is a Buy. One of the most superbly managed companies in Canada. | 2008-04-30 | |
| Comment | 38.060 | Gordon Higgins, CA, MBA, CFA | US insurers are trading at around 8X – 9X earnings and this one is trading at around 11X. Does not have subprime issues or exposure to the mono lines so it is solid, but in the environment, the market is shying from this. He prefers Sun Life (SLF-T), which is trading around 9X earnings. | 2008-04-17 | |
| HOLD | 37.630 | Ken McCord | Question was, should he sell MFC in order to buy it back cheaper later.
Answer: no.
He likes MFC in the financial sector. They are less reliant on the market then banks are. If you want to have some money in the financials then MFC is a good place to be. | 2008-03-26 | |
| HOLD | 37.830 | Benj Gallander | Be wary of this area, there is so much trouble in the financial area. There are better opportunities out there. Would hold if owned. Play financials for dividends. This only has 2.5% dividend. | 2008-03-25 | |
| BUY | 36.250 | Robert Floyd | Insurance have done better then the banks. Those with more US exposure have been hit more. In 12 months could regain it's old high, of around $44. | 2008-03-20 | |
| SELL | 36.280 | David Burrows | Sell on strength. Thinks long term things are heading down.
Sell in stuff that has declining fundamentals and buy in stuff that has improving fundamentals. | 2008-03-19 | |
| BUY | 35.730 | David Baskin | Has some balance sheet risk. Nobody knows what their exposure is to bad credit.
Caller was asking for comparison to BCE, he likes this one better, as he thinks it is undervalued. | 2008-03-18 | |
| Comment | 35.730 | Norman Levine | (Market Call Minute.) If he had to buy a financial today, it would be this one. Not touched by any of the bad stuff. | 2008-03-10 | |
| BUY | 35.730 | Paul Gardner, CFA | Likes their potential growth strategy in Asia. Their John Hancock acquisition went really well. Return on equity is fantastic. Cheaper than they were a year ago. In a lower interest rate environment, insurance companies generally do better. | 2008-03-10 | |
| BUY | 36.920 | John Zechner | Got hit with the group in general. Earnings are relatively well insulated. Growing internationally, which is what you want. Not really cheap compared to the banks anymore and the growth is going to slow down a little bit in the downturn, but he still likes it. | 2008-03-06 | |
| Comment | 38.160 | Robert Floyd | Their Timber Group recently bought 900,000 acres of forestland, which he feels is kind of crazy. US operations are a question mark in terms of exposures. Not as bad as banks, but the risk component has gone up substantially. | 2008-02-29 | |
| HOLD | 39.200 | Peter Brieger | If you have some confidence in this market (which he doesn't) he would be a buyer. Otherwise a long-term Hold. 2.5% yield. | 2008-02-28 | |
| HOLD | 39.180 | Brian Acker, CA | Good blue-chip company. Pensioner had asked if she should sell and buy something else after holding for several years. He suggested to hold rather than playing the stock market. It will do well over the next 5 to 10 years. | 2008-02-27 | |
| DON'T BUY | 37.300 | David Burrows | A great business but is in the space that is being challenged right now, financials. If he had to own an insurance company, it would probably be this. Good international exposure. | 2008-02-15 | |
| WATCH | 37.040 | Kenneth P. Norquay, CMT | Insurance companies have not done too badly. They were in an uptrend, but when everybody else went down, they went down to. They went down to about their 06 level. We would expect it to at least stop going down, but will it go back up again. Can't think of any reason unless there is that little reversal pattern. If so, it is great, otherwise stay away. | 2008-02-12 | |
| BUY | 36.280 | Norman Levine | His favourite, long-term Canadian financial. The best managed life insurance Company in North America. Have fabulous overseas operations in the far east with great growth potential. As far as is known, it has little or no exposure in this bad subprime area. Good, long-term opportunity. | 2008-02-11 | |
| BUY | 36.280 | Michael Decter | If you are willing to take a long-term view, you could buy now. A good defensive stock. Trading at the bottom of its range. Earnings are good. Extremely well run. Good Asian and US exposure. | 2008-02-11 | |
| BUY | 36.900 | Paul Gardner, CFA | Depressed because of being in the financial sector. Has little or no exposure to subprime markets. Has expansion out to China and India. Cheap at these levels. Great free cash flow yield. Expects there will be a dividend increase. | 2008-02-05 | |
| BUY | 37.250 | Laura Wallace | Life insurers in general are much better positioned than banks. Closely looking at this one. Probably the best insurer at this time. Thinks they are gearing up for a major acquisition, which usually puts pressure on the stock, but very positive over the long-term. Cheap on a historical basis at 14X earnings. | 2008-01-30 | |
| BUY | 37.300 | Norman Levine | Far prefers insurance companies to the banks right now. They don't seem to have any exposure to any of the financial problems in the US. It has just come down with the market in general, which means you are getting a great company at a discount to where it should be trading. | 2008-01-29 | |
| BUY | 37.010 | Gordon Higgins, CA, MBA, CFA | People have a hate on for financials. Canadian insurance companies are now more expensive on a PE multiple than the US ones. However, there are not the same risks. At 10X earnings he would be very comfortable owning this one. This is the dominant player in Canada. Good international growth. | 2008-01-25 | |
| STRONG BUY | 37.420 | Don Lato | A great buy at these levels. 12X earnings is cheap. Has been tarred with the financial brush, largely unjustifiably so. 2.5% dividend is solid and probably goes up by the end of 08. The $500 million that they invested in the CIBC (CM-T) was an interesting play and they got it at a very good price. | 2008-01-16 | |
| DON'T BUY | 37.300 | Robert Floyd | Would prefer an insurer to a bank right now. Wait for the dust to settle a little bit more on the financials. | 2008-01-15 | |
| Comment | 38.650 | Laura Wallace | Has come off sharply because it is a financial. She is looking at this one very closely. Canadian insurance does not have a big exposure to subprimes and mortgage debacles. We'll be in a trading range until people have little bit more confidence. She thinks the catalyst could be a major acquisition. Strong balance sheet. | 2008-01-11 | |
| Comment | 39.020 | Kenneth P. Norquay, CMT | Gun down to around $37 last August and is now at the same level. The yellow light has to be on. If it breaks below that level be careful. | 2008-01-04 | |
| BUY | 39.510 | Gavin Graham | This is a world-class Canadian financial company. Through the John Hancock takeover, they have turned themselves into the 2nd biggest insurer in North America. Have expanded into Asia. | 2008-01-02 | |
| TOP PICK | 40.570 | Bruce Campbell | Trading at 13X earnings. ROE in the mid-to high teens. International growth as well as domestic. $45 plus dividend gives you 15%. Nice safe place to be. | 2007-12-31 | |
| BUY | 40.100 | Paul Gardner, CFA | Likes their China exposure. | 2007-12-28 | |
| BUY | 40.100 | Peter Brieger | Owns both Manulife (MFC-T) and Sun Life (SLF-T) but has steered his focus to Manulife because PE ratio based on 08 earnings is roughly the same. Would buy both companies equally. | 2007-12-28 | |
| BUY | 39.970 | David Cockfield | Did very well but got ahead of itself. Now back into a Buying range. Well-run company. Making great strides in the Far East. | 2007-12-21 | |
| DON'T BUY | 40.360 | Ross Healey | Feels that a lot of money has left the banks and money managers to move into the lifecos. It means that companies such as Sun Life (SLF-T), Great West (GWO-T) and Manufacturers (MFC-T) have caught up to the peak of and are exceeding their FMV. | 2007-12-20 | |
| TOP PICK | 41.010 | Jeff Parent | Chart looks like it is trading all over the map but is actually around $40. In these volatile markets you need stocks that are not all hot. | 2007-12-14 | |
| HOLD | 40.890 | Robert Floyd | A lot of institutional investors made a shift away from banks and into insurance companies. They have nice international exposure. Decent size and good operator. | 2007-12-11 | |
| BUY | 40.890 | Peter Brieger | On his Buy list is an equal holding of Manufacturers Life (MFC-T) and Sun Life (SLF-T). ROE on ManuLife is superior. Prefers insurance companies over banks. | 2007-12-11 | |
| BUY | 41.650 | Michael Sprung | Either Sun Life (SLF-T) or Manufacturers Life (MFC-T) is a good buy at this time. Good yield at 2.3%. Good earnings profile going forward going from $2.51 to about $2.80 this year and perhaps over $3 next year. Making very large inroads and strong market share gains in wealth management. | 2007-12-10 | |
| BUY | 41.200 | Derek Webb, CFA | Lifecos in the US have gone way up as the banks have gone way down. Lifecos are great stocks to own if you are a value, long-term investor. The stock is cheap and has a good dividend yield. Think they will do much better than the banks in the next year or two. | 2007-11-28 | |
| PAST TOP PICK | 39.440 | Bruce Campbell | (A Top Pick June 5/07. No change.) A financial services company, so it's down. Has John Hancock as a sub in the US and big overseas but has no subprime exposure. Still likes. Good price. | 2007-11-22 | |
| HOLD | 39.400 | Brian Acker, CA | He has a model price of $38.51, so it’s right on his model price. If you’re a long-term holder, continue to Hold. | 2007-11-20 | |
| TOP PICK | 41.420 | Don Lato | Great company with a global platform. 50% of their business is in the US, 25% in Canada, and 20% in Asia. Consistent 15% earnings growth yet trading at 13X next year’s earnings. Have consistently increased the dividend. Feels there’s a lot more safety here. | 2007-11-08 | |
| BUY | 42.980 | Andrew Guy, CFA | All of the financial services companies in Canada are attractively valued. You can hold this one for the long-term. | 2007-11-02 | |
| BUY | 44.190 | Michael Smedley | A long-term Hold. It will take a long time for them to make any money in China. | 2007-10-31 | |
| TOP PICK | 41.250 | Bruce Campbell | Recent retreat here which happens seldom makes this a good entry point.
The risk is the currency, but he is still thinking it will net low double digit returns. (dividend at 3% + stock valuation). | 2007-10-24 | |
| BUY | 41.250 | Brendan Caldwell | Likes it. Better way to play the insurance business is with Power Financial since it has a broader category. Likes banks over insurance, but still likes it. | 2007-10-24 | |
| BUY | 41.870 | Bob Stodgell | Likes their exposure in the far east. The company is looking globally. Thinks it's great. Buy and hold. | 2007-10-18 | |
| WATCH | 41.680 | Laura Wallace | Stock is a little expensive here. Buy if they announce an aquisition. | 2007-10-15 | |
| BUY | 41.130 | Paul Gardner, CFA | Great financial. Good entry to China. Integration of John Hancock has been fantastic. | 2007-10-03 | |
| TOP PICK | 41.240 | Chyanne Fickes | (A Top Pick Nov 6/06. Up 8.4%.) Has concerns about the banks but wants to be in the financials and this is a phenomenal company. Earnings are growing at 15%. Have a 17% ROE. Well diversified in products, distribution and geographically. | 2007-10-01 | |
| WEAK BUY | 40.810 | David Burrows | Would buy if had to be involved in financial services. Growth coming form around the world. Likes company. | 2007-09-19 | |
| HOLD | 40.860 | Nick Majendie | He is looking to buy this in the mid-$30, but if it doesn't get there he will buy it anyways. Very well run company. Should grow at 15%-18% a year over the next number of years. | 2007-08-29 | |
| BUY | 40.580 | David Baskin | One of Canada's great companies. It is doing the things that our banks have not done, aggressively expanding overseas and making itself into a global competitor. Trading at a fairly modest PE multiple. Has room to expand its dividend. | 2007-08-23 | |
| BUY | 40.750 | Gavin Graham | Has gone nowhere for most of this year. The financials have been pretty disappointing. This one has international growth so it will always be his 1st choice, but Sun Life (SLF-T) is a nice complement because it has a different set of assets. You could buy both and do very well. | 2007-08-08 | |
| HOLD | 38.660 | Peter Brieger | Will be impacted by the malaise in the financial business. What is needed is the next leg up in the market where financials are leading the pack. | 2007-08-03 | |
| BUY on WEAKNESS | 39.560 | Laura Wallace | Looking at this one very closely. Would like it a little bit cheaper. Good market diversification. The only near-term risk is if they did a major acquisition. Excellent management. | 2007-08-02 | |
| Comment | 39.560 | Chyanne Fickes | Stock has been dead for some time and she can't explain it. Numbers are good and they are executing well in the US. | 2007-08-02 | |
| BUY | 38.900 | Michael Decter | Hasn't gone anywhere since November. Well-managed. Did a great acquisition with John Hancock. You'll have to be patient with this one. Solid value at this price. | 2007-07-31 | |
| WEAK BUY | 38.900 | Bill Carrigan | He is nervous about the financial sector. However, he feels the insurance companies will do better than the banks. If you must be in the financial sector, this is one that you could hold. Watch that it doesn't go below its July low. | 2007-07-30 | |
| DON'T BUY | 38.650 | Brian Acker, CA | His model price has gone down a lot on this company. His model price is $38.23. | 2007-07-27 | |
| TOP PICK | 39.140 | Jonathen Wellum, B. Comm, B. Sc | A good example of a very well run company in terms of astuteness and capital management. Good global diversification. | 2007-07-26 | |
| Comment | 39.240 | Brendan Caldwell | Has been in a trading range of about $35 to $40 for some time. Financial services have generally been trending down, but that is more on the bank's side. Believes it will probably move up. Prefers Great West Life (GWO-T). | 2007-07-24 | |
| HOLD | 40.070 | Peter Gibson | Less sensitive to interest rates than the banks. Their ROE has stalled out. Doesn't expect it will do much in the next few months. | 2007-07-16 | |
| Comment | 40.260 | Michael Sprung | Management has done a tremendous job. Insurance companies in general are a little better priced than some of the banks. Good long-term Hold. Has been buying Sunlife (SLF-T) instead because the discount makes a slightly more attractive. | 2007-07-13 | |
| DON'T BUY | 39.370 | Bill Carrigan | Long-term trend lines on most of the financials have been violated. Isn't looking for a collapse, but thinks the Up is over where the easy money has been made. | 2007-07-10 | |
| PAST TOP PICK | 39.460 | Chyanne Fickes | (A Top Pick July 4/06. Up 9.4%.) Having a very tough time getting over $41. Great management. Opening up 380 new sites in China next year. | 2007-07-05 | |
| BUY | 39.330 | Paul Harris, CFA | Likes it. Has moved sideways the last little while. Has great global exposure, esp in Asia. | 2007-06-28 | |
| TOP PICK | 39.520 | David Baskin | Better growth profile than others. The John Hancock acquisition was a home run. Growth is coming from the US and Asia. Trading at a lower price earnings multiple than the banks. Less interest spread exposure. | 2007-06-19 | |
| TOP PICK | 39.170 | Gavin Graham | Pretty unimpressive compared to other things you could have had over the year. Gives a decent dividend yield and they raise it every year. | 2007-06-15 | |
| BUY | 38.700 | James Cole, BA, CFA | Has reduced his holdings a year ago, but still owns.Stock has tracked sideways for the last year, and earnings have increased.Manulife has vast operations in the US, which will show as an earnings slowdown due to the rising Canadian vs US dollar. Sunlife is more appealing on valuation, however Manulife has done a better job on earnings growth. | 2007-06-12 | |
| BUY | 38.700 | Norman Levine | Best managed and well financed. Most of their earnings are in US dollars, is going to hurt in the near term.
Believes they are getting ready to do an acquisition. | 2007-06-12 | |
| BUY | 38.550 | Bob Stodgell | They have huge positions in US and Asia. They are international in scope. The US slow down could hurt them, but they are very well managed, and should show a dividend. | 2007-06-11 | |
| WAIT | 38.500 | Laura Wallace | Markets are going to be quiet choppy through the summer.
Manulife is a great company and it's international.
Rumors of a major acquisition.
If you own it hold it. If not then wait. | 2007-06-08 | |
| WEAK BUY | 38.380 | Brian Acker, CA | 8.4% positive differential but it's going down. 2.5% of their portfolio is in there, and it's on a pretty tight leash. | 2007-06-07 | |
| TOP PICK | 39.250 | Bruce Campbell | Worst performing finacial services stock this year.
Disappointing Canadian mutual funds side.
Variable annuities are growing like crazy.
16% ROE.
General business risk is the only risk. | 2007-06-05 | |
| PAST TOP PICK | 39.540 | Peter Brieger | From Jun 2006,
Then 36.49.
Likes the company. | 2007-06-04 | |
| BUY | 40.360 | Michael Sprung | A superbly run company. Have so many avenues for growth going forward. Very different management team. Good long-term hold. | 2007-05-28 | |
| STRONG BUY | 39.490 | Gavin Graham | The premire financial play in Canada with the possible exception of Nova Scctia.
Is big in Japan and the emerging markets as they have been there for over 100 years.
Price is cheap now. | 2007-05-22 | |
| BUY | 39.900 | Paul Gardner, CFA | Dividend of about 2.5%, which is not terrific, but the growth potential is really great. Their acquisition of John Hancock is going really well. Also have some leverage in Asia. | 2007-05-17 | |
| BUY on WEAKNESS | 39.990 | Peter Brieger | Likes the exposure to market opportunities in the US, but in particular their exposure in the Far East. Outstanding management. Try to buy it $1 or so cheaper. | 2007-05-16 | |
| BUY | 39.990 | David Burrows | Would like this over any other insurance company. Has great global exposure and has done a great job in growing their wealth management and fee based business. | 2007-05-16 | |
| TOP PICK | 39.360 | Bruce Campbell | Of all financial services, this one looks the cheapest. Going sideways. A 13-14 multiple really good growth in Asia. John Hancock has worked well. Under $40 is a good price. | 2007-05-09 | |
| HOLD | 40.340 | Brian Acker, CA | 8% positive differential.
| 2007-05-02 | |
| HOLD | 39.640 | Michael Smedley | Have huge competence. Liked the John Hancock acquisition. | 2007-05-01 | |
| BUY | 39.640 | Norman Levine | This would be his favourite in Canadian financials. | 2007-05-01 | |
| TOP PICK | 40.250 | Chyanne Fickes | (A Top Pick Nov 6/06. Up 6.4%.) Very good growth rate. Very nice ROE. Likes their international expansion. Expect there will be more acquisitions in the future. From the technical aspect, she feels it has been doing some basing. | 2007-04-17 | |
| BUY | 40.250 | Kenneth P. Norquay, CMT | The chart is a work of art. It just goes up. To calculate a stop loss, draw a straight line just below the bottom of the trend. As long as it stays above that line, don't worry about it. | 2007-04-17 | |
| BUY | 40.580 | Stephen Carlin | Great company. Expecting 12% earnings growth. Good core holding for anyone's portfolio. | 2007-04-05 | |
| BUY | 40.050 | John Zechner | Sees more growth in the life companies than in the banks. Likes their Asian operations. | 2007-04-02 | |
| BUY | 39.700 | John O'Connell, CFA | Had a big run late last year. Well managed. Good exposure in Asia. | 2007-03-30 | |
| BUY | 39.970 | Ian Nakamoto | Likes the long-term nature of the insurance companies with their wealth management. | 2007-03-29 | |
| BUY | 40.360 | Peter Brieger | Superbly run and gives good exposure to the US and the Far East. | 2007-03-21 | |
| BUY | 38.880 | Laura Wallace | Great company. Very well managed. Good track record. Very well exposed in Asia. | 2007-03-14 | |
| TOP PICK | 40.200 | Chyanne Fickes | (A Top Pick July 4/06. Up 11%.) Has actually been laggard in the group. John Hancock acquisition has been very successful. Still happy with it. ROE of over 16% and a PE of about 15. | 2007-03-12 | |
| BUY | 39.420 | Gavin Graham | A world-class Canadian company. One of the top 10 life-insurance companies in Japan. Making money in China. | 2007-03-06 | |
| BUY on WEAKNESS | 39.420 | Bruce Campbell | Likes it under $39. Well-run. Lots of growth in Asia. Decent US exposure. | 2007-03-06 | |
| BUY | 39.000 | Norman Levine | His favourite insurance company in Canada. Best management. Great growth opportunities in the Far East. Have built up a lot of cash and have the ability to make a major acquisition. | 2007-02-27 | |
Experts that have talked about Manulife Financial
