Manulife Financial Stock (NYSE:MFC), Trade Ideas

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.

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Reinsurance Group of America, Incorporated&#39;s (NYSE: RGA) shares have rallied 43.3% in a year compared with the industry&#39;s growth of 30.7%. The Finance sector and the Zacks S&amp;P 500 index have gained 26.1% and 27.7% in the said time frame, respectively.

Reinsurance Group (RGA) Up 43.3% in a Year: More Room to Run?

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U.S. stocks were mostly higher, with the Dow Jones index gaining more than 150 points on Wednesday.

Reliance Steel &amp; Aluminum Posts Upbeat Earnings, Joins JFrog, AppLovin, Shake Shack And Other Big Stocks Moving Higher On Thursday

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Fintech news covering the emerging Financial Technology services sector

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The CEOs, who were in Davos for the World Economic Forum, expressed concerns about the competitive threat posed by fintech companies and private lenders, as well as the burden of regulatory requirements.

JPMorgan&#39;s Jamie Dimon And Other Bank CEOs Held Private Meeting Over Fintech Competition, Regulatory Burden In Davos: Report

Manulife Financial Corporation Common Stock

Manulife Financial Corp

MICROWAVE FILTER CO INC by Microwave Filter Co., Inc.

Microwave Filter Co Inc

MEDICAL FACILITIES CORP by Medical Facilities Corp.

Medical Facilities Corp

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

Reinsurance Group of America, Incorporated&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rga#NYSE">RGA</a>) shares have rallied 43.3% in a year compared with the industry&#39;s growth of 30.7%. The Finance sector and the Zacks S&amp;P 500 index have gained 26.1% and 27.7% in the said time frame, respectively. With a market capitalization of $12.68 billion, the average volume of shares traded in the last three months was 0.3 million.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/75/63968.jpg?v=1019823867" /> 
Image Source: Zacks Investment Research
The rally was largely driven by new business volumes, favorable longevity experience, stronger invested asset base, business expansion in the pension risk transfer market and effective capital deployment. 
This Zacks Rank #3 (Hold) life insurer delivered a four-quarter average earnings surprise of 24.39%. 
Reinsurance Group has a VGM Score of B. The VGM Score helps identify stocks with the most attractive value, best growth and the most promising momentum.
<h3>Will the Bull Run Continue?</h3>
The Zacks Consensus Estimate for Reinsurance Group&#39;s 2025 earnings per share indicates a year-over-year increase of 8.8% from the consensus estimate of 2024. The consensus estimate for revenues is pegged at $20.04 billion, implying a year-over-year improvement of 5.5% from the consensus mark of 2024. 
The Zacks Consensus Estimate for 2024 and 2025 earnings has moved 0.4% and 0.2% north, respectively, in the past 30 days, reflecting analysts&#39; optimism on the stock. 
Its compelling product portfolio and operational expertise help Reinsurance Group maintain its leadership position in the United States, Latin America and Canada. 
Significant value embedded in the in-force business helps generate predictable long-term earnings. Product line expansion not only contributes to risk diversification and matured individual mortality but also provides a base for stable earnings and capital generation. 
Reinsurance Group&#39;s longevity insurance provides a source of diversified income and acts as a hedge to a large mortality position. Increasing demand for longevity insurance poises it well for long-term growth. 
Life insurers are direct beneficiaries of an improving interest rate environment. Though the Fed has stalled rate increases for some time, it has already made 11 hikes since 2022. 
A high-quality investment portfolio and the company&#39;s diversified business across asset classes, sectors, issuers and geography are positives. 
RGA&#39;s solid capital position with excess capital of around $1 billion offers sufficient financial flexibility and supports effective capital deployment. 
Reinsurance Group expects to remain active in deploying capital into attractive growth opportunities in organic flow and in-force block transactions and returning excess capital to shareholders through dividends and share repurchases. On Jan 23, 2024, the company&#39;s board authorized a share repurchase program for up to $500 million of RGA&#39;s outstanding common stock. 
ROE is a profitability metric that measures how effectively the company is utilizing its shareholders&#39; funds. In the fourth quarter of 2023, adjusted operating return on equity (excluding accumulated other comprehensive income) was 14.5%, which expanded 400 basis points year over year. This shows the company&#39;s relative efficiency in managing shareholders&#39; funds.
<h3>Stocks to Consider</h3>
Some better-ranked stocks from the life insurance industry are Manulife Financial Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mfc#NYSE">MFC</a>), Primerica, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pri#NYSE">PRI</a>) and Sun Life Financial Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/slf#NYSE">SLF</a>), each carrying a Zacks Rank #2 (Buy) at present. 
Manulife Financial delivered a four-quarter average earnings surprise of 7.01%. In the past year, MFC has gained 34.4%. 
The Zacks Consensus Estimate for MFC&#39;s 2024 and 2025 earnings implies year-over-year growth of 5.4% and 9.7%, respectively, from the consensus estimate of the corresponding years. 
Primerica beat earnings estimates in three of the last four quarters and missed in one, the average being 3.10%. In the past year, PRI has rallied 47.6%. 
The Zacks Consensus Estimate for PRI&#39;s 2024 and 2025 earnings implies year-over-year growth of 10.4% and 10%, respectively, from the consensus estimate of the corresponding years. 
Sun Life beat earnings estimates in three of the last four quarters and matched in one, the average being 3.32%. In the past year, SLF has gained 15.3%. 
The Zacks Consensus Estimate for SLF&#39;s 2024 and 2025 earnings implies year-over-year growth of 8% and 7.3%, respectively, from the consensus estimate of the corresponding years.
<a href="https://www.zacks.com/stock/news/2248161/reinsurance-group-rga-up-43-3-in-a-year-more-room-to-run?cid=CS-BENZ-FT-analyst_blog|price_surge_/_plunge-2248161">To read this article on Zacks.com click here.</a>

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$38 price target.

Price Target

Reiteration

Analyst Ratings

TSX:MFC

RBC Capital Reiterates Outperform on Manulife Financial, Maintains C$38 Price Target

Jefferies analyst John Aiken initiates coverage on Manulife Financial (TSX:<a class="ticker" href="https://www.benzinga.com/stock/MFC#TSX">MFC</a>) with a Buy rating and announces Price Target of C$40.

Initiation

Jefferies Initiates Coverage On Manulife Financial with Buy Rating, Announces Price Target of C$40

TD Securities analyst Mario Mendonca downgrades Manulife Financial (TSX:<a class="ticker" href="https://www.benzinga.com/stock/MFC#TSX">MFC</a>) from Action List Buy to Buy.

Downgrades

TD Securities Downgrades Manulife Financial to Buy

Manulife Financial Corporation (&quot;Manulife&quot;) announced today that it has received approval from the Toronto Stock Exchange (&quot;TSX&quot;) for its previously announced normal course issuer bid (&quot;NCIB&quot;) permitting the purchase for cancellation of up to 50&nbsp;million of its common shares, representing approximately&nbsp;2.8%&nbsp;of Manulife&#39;s issued and outstanding common shares. As at&nbsp;February 12, 2024&nbsp;Manulife had 1,806,733,528&nbsp;common shares issued and outstanding. The Office of the Superintendent of Financial Institutions Canada previously approved the NCIB. Under the NCIB, Manulife may purchase up to 1,521,140 of its common shares on the TSX during any trading day, which represents&nbsp;25%&nbsp;of the average daily trading volume of 6,084,560&nbsp;common shares on the TSX for the six months ended&nbsp;January 31, 2024, subject to TSX rules permitting block purchases. Purchases under the NCIB may commence through the TSX on&nbsp;February 23, 2024&nbsp;and continue until&nbsp;February 22,&nbsp;2025, when the NCIB expires, or such earlier date as Manulife completes its purchases.
Having an NCIB in place will provide Manulife with the flexibility to purchase common shares as part of its capital management strategy which is designed to maintain healthy regulatory capital ratios while balancing the objective of generating shareholder value.&nbsp;&nbsp;In addition, Manulife intends to repurchase shares in order to mitigate the impact on diluted Earnings Per Share and core Earnings Per Share from a previously announced reinsurance transaction that is expected to close by the end of&nbsp;February 2024.
Purchases under the NCIB may be made through the facilities of the TSX, the New York Stock Exchange, and alternative trading systems in&nbsp;Canada&nbsp;and&nbsp;the United States&nbsp;at market prices prevailing at the time of purchase or such other price as may be permitted. All common shares acquired by Manulife under the NCIB will be cancelled. Repurchases will be subject to compliance with applicable Canadian securities laws and&nbsp;United States&nbsp;federal securities laws.
In addition, Manulife may undertake repurchases of its common shares outside of&nbsp;Canada&nbsp;and&nbsp;the United States&nbsp;in compliance with applicable laws. Subject to regulatory approval, Manulife may also acquire common shares directly from other holders by way of private agreement pursuant to issuer bid exemption orders issued by applicable securities regulatory authorities. Any private purchase made under an exemption order issued by a securities regulatory authority will generally be at a discount to the prevailing market price. Manulife may also enter into derivative-based programs in support of its repurchase activities, including the writing of put options and forward purchase agreements, accelerated share repurchase transactions, other equity contracts or use other methods of acquiring shares, in each case subject to regulatory approval and on such terms and at such times as shall be permitted by applicable securities laws. The total number of common shares repurchased under the NCIB and all other potential arrangements will not exceed 50 million common shares.
Manulife has entered into an automatic share repurchase plan under which its designated broker will repurchase Manulife&#39;s common shares pursuant to the NCIB. The actual number of common shares purchased under the automatic plan, the timing of such purchases and the price at which common shares are purchased will depend upon future market conditions. The automatic plan, which was pre-cleared by the TSX, provides for the potential repurchase of common shares at any time, including when Manulife ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules, or otherwise.

Manulife announces Normal Course Issuer Bid Permitting The Purchase For Cancellation Of Up To 50M Of Its Common Shares, Representing ~2.8% Of Co's Issued And Outstanding Common Shares

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$34 to C$38.

RBC Capital Maintains Outperform on Manulife Financial, Raises Price Target to C$38

WIIM

Manulife Financial shares are trading higher after the company reported better-than-expected Q4 adjusted EPS results and increased its common share dividend.

U.S. stocks were mostly higher, with the Dow Jones index gaining more than 150 points on Wednesday.
Shares of Reliance Steel &amp; Aluminum Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rs#NYSE">RS</a>) rose sharply in today&rsquo;s session after the company reported fourth-quarter earnings above estimates and issued above-consensus first-quarter FY24 adjusted EPS.
Reliance Steel &amp; Aluminum posted adjusted earnings of $4.73 per share, beating market estimates of $3.92 per share. The company&rsquo;s quarterly sales came in at $3.34 billion versus estimates of $3.30 billion.
Reliance Steel &amp; Aluminum shares climbed 10.4% to $325.15 on Thursday.
Here are some other big stocks recording gains in today&rsquo;s session.
<ul>
<li>Nano-X Imaging Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nnox#NASDAQ">NNOX</a>) shares surged 54.7% to $9.84. Nvidia reported a 59,632 share stake in Nano X Imaging.</li>
<li>SoundHound AI, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/soun#NASDAQ">SOUN</a>) rose 53% to $3.4499. According to data from Benzinga Pro, BlackRock reported a 5.6% passive stake in SoundHound AI after the market close. Traders also appear to be circling a filing from Nvidia in which the company disclosed positions in several companies, including SoundHound AI.</li>
<li>Pegasystems Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pega#NASDAQ">PEGA</a>) climbed 27.8% to $64.84 after the company reported better-than-expected fourth-quarter financial results and issued FY24 EPS and revenue guidance above estimates.</li>
<li>JFrog Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/frog#NASDAQ">FROG</a>) shares gained 27% to $47.09 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter adjusted EPS and revenue guidance above estimates.</li>
<li>American Well Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amwl#NASDAQ">AMWL</a>) surged 25% to $1.39 following quarterly results.</li>
<li>Datasea Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dtss#NASDAQ">DTSS</a>) climbed 25% to $11.24. DataSea announced a $30 million 5G multimodal communication technology service agreement.</li>
<li>AppLovin Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/app#NASDAQ">APP</a>) climbed 22% to $57.16 after the company reported better-than-expected fourth-quarter financial results.</li>
<li>Ultralife Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ulbi#NASDAQ">ULBI</a>) rose 21.4% to $9.60 following upbeat quarterly results.</li>
<li>Shake Shack Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/shak#NYSE">SHAK</a>) climbed 18.6% to $92.60 after the company reported better-than-expected quarterly financial results and issued guidance.</li>
<li>Digital World Acquisition Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dwac#NASDAQ">DWAC</a>) gained 18.6% to $51.65 after the company announced the U.S. Securities and Exchange Commission declared its registration statement on Form S-4 effective.</li>
<li>Sylvamo Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/slvm#NYSE">SLVM</a>) rose 18.5% to $53.94 following upbeat earnings.</li>
<li>DNOW Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dnow#NYSE">DNOW</a>) surged 18.4% to $11.62 following strong quarterly results.</li>
<li>Organon &amp; Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ogn#NYSE">OGN</a>) shares gained 16.5% to $19.07 after the company reported better than expected Q4 2023 earnings and issued 2024 guidance.</li>
<li>BridgeBio Pharma, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bbio#NASDAQ">BBIO</a>) rose 15.6% to $39.75.</li>
<li>Zebra Technologies Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zbra#NASDAQ">ZBRA</a>) gained 14% to $288.44 after the company reported fourth-quarter financial results and issued first-quarter guidance above estimates.</li>
<li>Appian Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/appn#NASDAQ">APPN</a>) surged 13.8% to $37.97 after the company reported fourth-quarter financial results above estimates.</li>
<li>Zebra Technologies Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zbra#NASDAQ">ZBRA</a>) gained 12.7% to $285.24 after the company reported fourth-quarter financial results and issued first-quarter guidance above estimates.</li>
<li>Informatica Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/infa#NYSE">INFA</a>) rose 12.6% to $33.91 after the company reported better-than-expected fourth-quarter financial results.</li>
<li>Patterson-UTI Energy, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pten#NASDAQ">PTEN</a>) gained 12.3% to $11.61 following strong sales.</li>
<li>Blueprint Medicines Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bpmc#NASDAQ">BPMC</a>) gained 11.5% to $85.66 following strong results.</li>
<li>CRISPR Therapeutics AG (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crsp#NASDAQ">CRSP</a>) rose 10.8% to $87.62. Wolfe Research analyst Andy Chen initiated coverage on CRISPR Therapeutics with a Peer Perform rating.</li>
<li>Antero Resources Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ar#NYSE">AR</a>) gained 10.5% to $23.44 following upbeat results.</li>
<li>EPAM Systems, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/epam#NYSE">EPAM</a>) rose 10.3% to $288.44 after the company reported fourth-quarter financial results and issued first-quarter revenue guidance above estimates.</li>
<li>Kadant Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kai#NYSE">KAI</a>) climbed 10% to $346.60 following strong results.</li>
<li>Cognex Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cgnx#NASDAQ">CGNX</a>) gained 9.8% to $39.70 following upbeat earnings.</li>
<li>Cushman &amp; Wakefield plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cwk#NYSE">CWK</a>) rose 8.8% to $11.72.</li>
<li>SunPower Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/spwr#NASDAQ">SPWR</a>) shares climbed 8.8% to $4.64 after the company announced raising $175 million in new capital financing from TotalEnergies and Global Infrastructure Partners and fourth-quarter financial results below estimates.</li>
<li>Lyft, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lyft#NASDAQ">LYFT</a>) gained 8.6% to $17.82. Lyft recently reported fourth-quarter financial results and issued guidance.</li>
<li>Manulife Financial Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mfc#NYSE">MFC</a>) rose 7.6% to $24.34 following upbeat earnings.</li>
<li>Albemarle Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/alb#NYSE">ALB</a>) gained 7% to $122.36 after the company reported quarterly financial results.</li>
<li>Coinbase Global, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coin#NASDAQ">COIN</a>) rose 6.2% to $170.35 after JP Morgan upgraded the stock from Underweight to Neutral and announced an $80 price target.</li>
</ul>
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Now Read This: <a href="https://www.benzinga.com/news/24/02/37156040/top-4-health-care-stocks-you-may-want-to-dump-in-february"> Top 4 Health Care Stocks You May Want To Dump In February </a>

Reliance Steel & Aluminum Posts Upbeat Earnings, Joins JFrog, AppLovin, Shake Shack And Other Big Stocks Moving Higher On Thursday

Manulife Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MFC#NYSE">MFC</a>) reported quarterly earnings of $0.68 per share which beat the analyst consensus estimate of $0.63 by 7.94 percent. This is a 3.03 percent increase over earnings of $0.66 per share from the same period last year. The company reported $1.30 billion in sales this quarter. This is a 89.21 percent decrease over sales of $12.08 billion the same period last year.

Earnings

Earnings Beats

Manulife Financial Q4 Adj $0.68 Beats $0.63 Estimate, Sales $1.30B Down From $12.08B YoY

Manulife's Board of Directors today announced an increase of 9.6% or 3.5 cents per share to its quarterly common shareholders' dividend resulting in a dividend of $0.40 per share on the common shares of Manulife, payable on and after March 19, 2024, to shareholders of record at the close of business on February 28, 2024.
In respect of the Company's Canadian Dividend Reinvestment and Share Purchase Plan and its U.S. Dividend Reinvestment and Share Purchase Plan, the Company will purchase common shares on the open market in connection with the reinvestment of dividends and optional cash purchases under these plans. The purchase price of these common shares will be based on the average of the actual cost to purchase them and there are no applicable discounts.

Dividends

Manulife Increases Common Shareholders' Dividend From $0.3650 To $0.40 Per Share

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Earnings Scheduled For February 14, 2024

Manulife Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MFC#NYSE">MFC</a>) is set to give its latest quarterly earnings report on Wednesday, 2024-02-14. Here's what investors need to know before the announcement.
Analysts estimate that Manulife Financial will report an earnings per share (EPS) of $0.63. 
Manulife Financial bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company beat EPS by $0.08, which was followed by a 2.99% increase in the share price the next day.
Here's a look at Manulife Financial's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.610</td>
<td>0.580</td>
<td>0.60</td>
<td>0.60</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.686</td>
<td>0.618</td>
<td>0.58</td>
<td>0.66</td>
</tr>
<tr>
<td>Price Change %</td>
<td>2.99%</td>
<td>1.35%</td>
<td>-1.02%</td>
<td>3.38%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1707832874_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Manulife Financial were trading at $22.62 as of February 12. Over the last 52-week period, shares are up 14.72%. 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.

Preview: Manulife Financial's Earnings

CEOs of major banks, including JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) and Barclays PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCS#NYSE">BCS</a>), reportedly held a private meeting in Davos on Wednesday to discuss the challenges posed by fintech firms and stringent regulations.
What Happened: The CEOs, who were in Davos for the World Economic Forum, expressed concerns about the competitive threat posed by fintech companies and private lenders, as well as the burden of regulatory requirements, according to a sources-based report by Reuters.
The CEOs, including JPMorgan&#8217;s Jamie Dimon, also discussed the challenging global economic landscape, marked by fluctuating interest rates and increasing debt.
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The meeting, which was attended by around 60 CEOs of global financial firms, was led by Barclays CEO C.S. Venkatakrishnan and Manulife Financial Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MFC#NYSE">MFC</a>) CEO Roy Gori. The agenda included discussions on managing risks amid geopolitical tensions, macroeconomic uncertainty, and technological disruptions.
Regulatory concerns were also raised, with UK regulators being singled out as particularly stringent, followed by European regulators.
Why It Matters: The concerns expressed by the bank CEOs in Davos are reflective of the broader challenges facing the traditional banking sector. As <a href="https://www.benzinga.com/24/01/36493942/exploring-the-paradigm-shift-in-the-banking-landscape-traditional-models-vs-innovations">fintech continues to gain momentum</a>, traditional banks are forced to adapt to the changing landscape or risk losing market share. The disruption caused by fintech startups has challenged traditional banking models and redefined customer interactions.
The concerns raised in Davos also come in the wake of a <a href="https://www.benzinga.com/news/large-cap/24/01/36615442/us-banking-sector-sees-fourth-consecutive-day-of-losses-after-q4-earnings-release">weak start to the U.S. banking sector&#8217;s earnings season</a>, with major banks such as JPMorgan, Bank of America Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), Citigroup Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), Wells Fargo &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) and Bank of New York Mellon Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) reporting disappointing Q4 results. 
Read Next: <a href="https://www.benzinga.com/news/24/01/36626049/poll-shows-half-of-haley-supporters-in-iowa-show-surprising-preference-for-joe-biden-over-donald-tru?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Poll Shows Half Of Haley Supporters In Iowa Show Surprising Preference For Joe Biden Over Donald Trump</a>
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JPMorgan's Jamie Dimon And Other Bank CEOs Held Private Meeting Over Fintech Competition, Regulatory Burden In Davos: Report

Multi-year partnership will source global start-ups working to shape the future of longevity innovation and build an enabling ecosystem to accelerate their growth
DAVOS, Switzerland,&nbsp;Jan. 17, 2024&nbsp;/PRNewswire/ - Manulife today announced a new multi-year partnership with UpLink, the World Economic Forum&#39;s (WEF) open innovation platform, designed to help shape the future of, and investment in, longevity innovation. The three-year partnership will include annual Manulife powered Global Longevity Innovation challenges, run by&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4069307-1&amp;h=3604824078&amp;u=https%3A%2F%2Fuplink.weforum.org%2Fuplink%2Fs%2F&amp;a=UpLink" target="_blank">UpLink</a>. Manulife will also support WEF&#39;s broader efforts to&nbsp;address the demographic and financial challenges of global ageing to help more people live longer, healthier, and better lives.

Manulife Announces Multi-Year Partnership With The World Economic Forum's UpLink To Drive Longevity Innovation Globally

The company will reinsure a combined C$13 billion&nbsp;of reserves across four legacy/low ROE blocks to Global Atlantic and its partners.&nbsp;The transaction is expected to release&nbsp;$1.2 billion&nbsp;of capital and Manulife intends to return the full amount of freed up capital to shareholders via share buybacks.

Manulife Financial Agrees To Reinsure To Global Atlantic Four Blocks Of Legacy/Low Roe Business, Including C$6B Of Long-Term Care Reserves

Manulife Investment Management has signed an agreement to acquire multi-sector alternative credit manager CQS. Upon completion of the transaction, Manulife Investment Management will acquire the CQS credit platform and the CQS brand.&nbsp;&nbsp;
&nbsp;
The acquisition of London-based CQS will give the clients of both Manulife Investment Management and CQS enhanced access to their complementary global investment solutions. Manulife Investment Management will retain CQS's rigorous investment philosophy and process and bring its differentiated capabilities to new investors while scaling its distribution footprint across broader client segments and geographies. CQS and its clients will benefit from Manulife Investment Management's strong capital base to continuously invest in the business and support growth across its strategies. The CQS credit platform has approximately US$13.5 billion in assets under management as of October 31, 2023.
"We are pleased to enter into this agreement which we see as mutually beneficial to both firms as well for those who have been investing with CQS for decades," said Paul Lorentz, president and CEO, Manulife Investment Management. "CQS brings to our portfolio a proven investment process, robust performance, and expertise across market cycles, and a culture that has attracted both talent and flows into the firm. We are very excited for the opportunity as CQS's capabilities are a complement to our existing fixed income and multi-asset solutions business and a powerful addition to our global credit offering."&nbsp;
"In Manulife Investment Management we have found the optimal long-term partner. We share a client-focused culture, and the support of its strong platform and global distribution combined with the autonomy of our investment teams will ensure we continue to strive to deliver attractive long-term returns to our client base," said Soraya Chabarek, CEO, CQS. "I would like to take this opportunity to thank Lord Hintze for the personal support and wise counsel he has given me as CEO. Over the last decade we have transformed CQS into a global alternative credit platform and this transaction is an exciting and important strategic step forward for our business, our clients, and our employees."&nbsp;
CQS is one of the most established names in alternative credit, having managed research-driven credit strategies for over two decades across multiple market cycles and geographies. CQS was founded in 1999 by Lord Hintze as a hedge fund manager, and under the leadership of Ms. Chabarek, who joined the firm in 2012, along with the Senior Partners Group that was formed in 2021, it has evolved into a multi-sector credit platform. Today, CQS offers alternative credit strategies including corporate credit (loans and bonds), asset backed securities (ABS), collateralized loan obligations (CLOs), regulatory capital, convertible bonds, and structured credit. It has ESG principles integrated throughout the organization and into the investment approach.&nbsp;&nbsp;
CQS will continue to be led by Ms. Chabarek and her fellow Senior Partners Craig Scordellis, CIO Credit, and Jason Walker, CIO ABS. Manulife Investment Management will acquire the CQS brand and intends to align it with the Manulife brand as a co-branded logo – Manulife &#x7C; CQS Investment Management – where permitted.&nbsp;
Lord Hintze's founder's hedge fund, the Directional Opportunities Fund, and certain related mandates are not included in the transaction. Lord Hintze will be forming his own firm under which he will continue to manage his fund on behalf of investors.&nbsp;
Lord Hintze said, "I'm delighted that CQS has found the right partner in Manulife Investment Management. It provides a long-term platform that will enable CQS to thrive as a leading alternative credit manager for years to come under Soraya's exceptionally able leadership. I will now focus full-time on running the Directional Opportunities Fund, an opportunity that I am excited about. I wish Soraya and the CQS team every success as they embark on this exciting new chapter."&nbsp;
The transaction is expected to close in early 2024 subject to customary closing conditions and regulatory approvals. At close, CQS will begin the process of integrating with Manulife Investment Management over time. The financial terms of the transaction were not disclosed. Piper Sandler &amp; Company served as exclusive financial advisor and Simmons &amp; Simmons LLP served as legal counsel to CQS in this transaction.&nbsp;
Issued and approved by Manulife Investment Management (Europe) Limited. Registered in England No.02831891. Registered Office: One London Wall, London EC2Y 5EA. Authorised and regulated by the Financial Conduct Authority.&nbsp;

Manulife Investment Management To Acquire Multi-Sector Alternative Credit Manager CQS; No Financial Terms Disclosed

RBC Capital analyst Darko Mihelic maintains Manulife Financial (TSX:<a class="ticker" href="https://www.benzinga.com/stock/MFC#TSX">MFC</a>) with a Sector Perform and raises the price target from C$30 to C$32.

RBC Capital Maintains Sector Perform on Manulife Financial, Raises Price Target to C$32

General

Manulife Financial shares are trading lower. The company reported Q3 adjusted EPS results.

Manulife Financial (TSE:MFC) has released an update. Manulife Financial Corporation has announced a landmark reinsurance transaction, offloading $5...

Manulife Advances Transformation with Major Reinsurance Deal

Manulife Financial (TSE:MFC) has released an update. Manulife Financial Corporation has announced a significant reinsurance transaction with RGA, i...

Manulife Announces Major Reinsurance Deal

Manulife agrees to reinsure $4.3B of policies with RGA Canada

Analysts have been eager to weigh in on the Financial sector with new ratings on Webster Financial (WBS – Research Report), Manulife Financial (MFC...

Analysts' Opinions Are Mixed on These Financial Stocks: Webster Financial (WBS), Manulife Financial (MFC) and Hamilton Lane (HLNE)

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Norm Rothery is the founder of StingyInvestor.com and a contributor to the business section of Canada&rsquo;s top newspaper, The Globe and Mail. He recently provided the Globe&rsquo;s readers with <a href="https://www.theglobeandmail.com/investing/markets/inside-the-market/article-norman-rothery-portfolios-for-dividend-and-value-investors-4/">seven different portfolios</a> for both dividend and value stocks.&nbsp;



The portfolios themselves are based on stock screens that Rothery discusses in further articles he links to in the Globe article. You&rsquo;d be wise to check those out.&nbsp;



In the meantime, I thought it would be interesting to come up with three names from these portfolios that trade on a U.S. exchange and appear in one or more of Rothery&rsquo;s value and dividend portfolios.



I&rsquo;ll start with the companies in his Canadian and U.S. Free Cash portfolios. That gives me 20 names to choose from. I&rsquo;ll try to pick three from those 20 names, all yielding 3.0% or more, while ensuring I select at least one Canadian stock in the trio of names.&nbsp;



History suggests that dividend and value stocks rewards patient investors.&nbsp;Here are three stocks to buy in March.&nbsp;



<h2>Manulife Financial (MFC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/06/shutterstock_742369873-1-300x169.jpg" alt="The homepage of the Manulife Financial (MFC) website."><div>Source: Shutterstock / chrisdorney</div></div>Manulife Financial (NYSE:<a href="https://investorplace.com/stock-quotes/mfc-stock-quote/">MFC</a>) is Canada&rsquo;s <a href="https://www.investopedia.com/articles/markets/082615/5-biggest-canadian-insurance-companies.asp">largest insurance company</a>.&nbsp;



MFC stock is part of Rothery&rsquo;s Dividend Monster portfolio, which consists of 10 high-yield stocks with momentum, and the Canada Free Cash portfolio, which features Canadian bargains with free cash flow.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;



Its history dates back to <a href="https://www.manulife.com/en/about/our-story.html#Our%20history">1887</a> when it was founded as The Manufacturers Life Insurance Company. In the company&rsquo;s first year, it insured 915 people. Manulife Financial finished 2023 with <a href="https://www.manulife.com/content/dam/corporate/investors/MFC_SIP_2023_Q4_EN.pdf">1.39 trillion</a> Canadian dollars ($1.02 billion) in assets under management and administration.&nbsp;&nbsp;



Under CEO Roy Gori, it continues to reshape its business to generate greater shareholder value with higher profits and lower risk in its global businesses. At the end of <a href="https://www.manulife.com/content/dam/corporate/investors/MFC_QRS_2023_Q4_EN.pdf">Q4 2023</a>, its core earnings from its highest potential businesses accounted for 60% overall, a 600 basis point increase from 2022.&nbsp;



Its Asian operations are a big part of its success and profitable growth. Manulife Financials core earnings from its Asian insurance and wealth/asset management businesses accounted for 37% of its total, up 100 basis points from 2022.



Its core earnings in 2023 were 5.10 billion Canadian dollars ($3.75 billion), 46% higher than a year earlier. Its core earnings increased by 20% to 3.47 Canadian dollars ($2.55) on a per-share basis. That&rsquo;s due to more shares outstanding from last year.&nbsp;



It trades at 9.4 times these earnings, yielding a high 4.9%.&nbsp;



<h2>Principal Financial Group (PFG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/02/pfg1600-300x169.png" alt="In this photo illustration Principal Financial Group (PFG) logo is seen on a mobile phone and a computer screen."><div>Source: viewimage / Shutterstock.com</div></div>Principal Financial Group (NASDAQ:<a href="https://investorplace.com/stock-quotes/pfg-stock-quote/">PFG</a>) is a <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0001126328/000110465924025516/pfg-20231231x10k.htm">global financial services company</a> that offers financial products and services to businesses, individuals, and institutional clients, including retirement, asset management, workplace benefits and protection solutions.&nbsp;&nbsp;



PFG stock is part of Rothery&rsquo;s U.S. Free Cash portfolio, currently yielding 3.3% and has increased 16% over the past year.&nbsp;



The company&rsquo;s diversified revenue streams provide resilience in challenging times. In 2023, higher interest rates resulted in more people moving assets to cash. Despite this, it reported full-year non-GAAP operating profits of <a href="https://finance.yahoo.com/news/principal-financial-group-inc-nasdaq-133205584.html">$1.6 billion</a>, or $6.55 a share, 6% higher than a year ago, and at the top end of its 2023 outlook.



As a result of its strong year, it returned $1.3 billion to shareholders through dividends and share repurchases, or approximately 90% of its net income. It finished the year with $695 billion in assets under management, 9% higher than in 2022. Approximately 26% of these assets are from its international business outside the U.S.&nbsp;



Principal Financial Group expects EPS to grow by <a href="https://s21.q4cdn.com/251671177/files/doc_financials/2023/Q4/4Q23-Earnings-and-2024-Outlook-Call-Slides-Final.pdf">10.5%</a> at the midpoint of its 2024 guidance. Based on 2024 EPS of $7.24, it trades at 11.6 times this estimate.&nbsp;



<h2>Canadian Imperial Bank of Commerce (CM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/canada1600a-300x169.jpg" alt="canadian flag over city to represent canadian stocks"><div>Source: Shutterstock</div></div>Canadian Imperial Bank of Commerce (NYSE:<a href="https://investorplace.com/stock-quotes/cm-stock-quote/">CM</a>) is the final name from Rothery&rsquo;s portfolios. It&rsquo;s part of the Frugal Dividend portfolio, a cheap and stable dividend payer, currently yielding 5.3%.



CIBC, as it&rsquo;s known, is the <a href="https://www.statista.com/statistics/434554/leading-banks-in-canada-assets/">smallest</a> of Canada&rsquo;s Big Five banks, with total assets of 975.7 billion Canadian dollars ($717.2 billion), less than half Canada&rsquo;s largest, Royal Bank of Canada (NYSE:<a href="https://investorplace.com/stock-quotes/ry-stock-quote/">RY</a>), with 2.0 trillion Canadian dollars ($1.47 trillion).&nbsp;



The bank reported solid Q1 2024 results at the end of February. Its revenue was <a href="https://www.cibc.com/content/dam/cibc-public-assets/about-cibc/investor-relations/pdfs/quarterly-results/2024/q124report-en.pdf">5%</a> higher than a year ago and 6% higher than Q4 2023. Net income in the quarter was 1.72 billion Canadian dollars ($1.26 billion), 16.2% higher than Q4 2023 and 304.7% higher than a year ago. This increase is despite a 98% increase in its provision for credit losses to 585 million Canadian dollars ($430.0 million).&nbsp;




&ldquo;A strong quarter overall for CIBC at first look driven by top-line strength and manageable credit costs with most of the bank&rsquo;s operating segments exceeding our expectations,&rdquo; Bloomberg BNN reported <a href="https://www.bnnbloomberg.ca/cibc-earnings-helped-by-domestic-business-as-provisions-miss-1.2040876">comments</a> from Keefe, Bruyette &amp; Woods analysts Mike Rizvanovic and Abhilash Shashidharan after its February announcement.&nbsp;




Analysts&rsquo; most significant concern is its loan exposure to the U.S. office market. Although it has a more extensive office portfolio than the other Big Five banks, the rest of its loan portfolio is very strong.&nbsp;Its shares are up more than 20% in 2024, nearly four times greater than Royal Bank.&nbsp;



On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"> Publishing Guidelines</a>.
<div>Will Ashworth has written about investments full-time since 2008. Publications where he&rsquo;s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/03/3-stocks-to-buy-for-both-dividends-and-value-in-march/">3 Stocks to Buy for Both Dividends and Value in March </a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Stocks to Buy for Both Dividends and Value in March

Manulife Financial Corporation (MFC) National Bank Financial 22nd Annual Financial Services Conference (Transcript)

In a report released on April 16, Darko Mihelic from RBC Capital maintained a Buy rating on Manulife Financial (MFC – Research Report), with a pric...

RBC Capital Reaffirms Their Buy Rating on Manulife Financial (MFC)

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Madison International Stock Fund Q1 2024 Investment Strategy Letter

AAGIY

AAIGF

ASML

BABA

EADSF

EADSY

HLNE

KIGRY

KNNGF

LZAGF

LZAGY

MNLCF

MNQFF

MNUFF

MRAAF

MRAAY

SONY

Contracts

Insurance

Press Releases

Manulife Closes Largest Canadian Universal Life Reinsurance Transaction with RGA

Manulife Investment Management Completes Acquisition of CQS

Mutual Funds

Manulife Investment Management Closes Manulife Strategic Secondaries Fund L.P. as GP-led Secondary Program Reaches More Than $600 Million

Manulife Investment Management Announces Cash Distributions for Manulife Exchange Traded Funds