Manulife Finl Stock Price, News & Analysis

AM Best has affirmed an A+ (Superior) Financial Strength Rating and a long-term issuer credit rating of “aa-” (Superior) for the life/health subsidiaries of Manulife Financial Corporation (MFC), along with a stable outlook. MFC's strong balance sheet includes a Life Insurance Capital Adequacy Test (LICAT) ratio above peers and a solid pre-tax income exceeding CAD 5 billion over three years. However, concerns exist regarding the company's exposure to volatile legacy businesses and an elevated alternative investment portfolio, which may introduce earnings volatility.

John Hancock, a division of Manulife (NYSE: MFC), has launched its 14th annual MLK Scholars Program, the largest corporate summer jobs initiative in the U.S. Designed to provide summer employment and financial education, the program aims to prepare over 600 Boston youth for their financial futures. A recent study revealed that 77% of participants felt more confident in managing their finances post-program. The initiative, funded by $1.2 million, collaborates with local organizations and includes virtual personal development workshops.

On June 29, 2021, Manulife Financial Corporation hosted its Investor Day, focusing on strategies for growth in Asia and Global Wealth and Asset Management. Key presentations highlighted achieving significant targets ahead of schedule, including $5.9 billion in capital release and $1 billion in expense savings. Manulife aims to generate 75% of core earnings from its highest potential businesses by 2025. The company is committed to customer-centricity and enhanced digital capabilities, having invested over $750 million since 2018. Future goals include maintaining 10-12% annual Core EPS growth.

Manulife Investment Management announced the acquisition of TriVista on Speer, a luxury multifamily property in Denver, Colorado, for $144.5 million. This seven-story building features 322 units with large floorplans and high-end amenities, catering to young professionals. Strategically located in the Golden Triangle neighborhood, it is over 90% occupied and provides easy access to numerous employment opportunities. The acquisition aligns with Manulife's goal to expand its real estate portfolio in economically vibrant regions.

Manulife warns investors about an unsolicited mini-tender offer from Obatan LLC to buy up to 500,000 common shares at USD$12.00 each, representing a discount of approximately 38% from recent market prices. The offer is below market value, prompting concerns as mini-tender offers can mislead shareholders. Manulife advises investors to review the offer carefully and consult with their advisors. The company is not affiliated with Obatan and does not endorse the offer.

John Hancock Retirement, part of Manulife Investment Management, has launched a new retirement app designed for plan participants. This fully transactional app allows users to enroll, view account details, and adjust contributions easily. The app aims to enhance engagement by providing personalized financial guidance, helping users set retirement goals, and reducing anxiety related to financial planning. As of March 31, 2021, John Hancock services over 52,000 retirement plans for more than 3 million participants, managing over $212 billion in assets.

John Hancock has partnered with Nasdaq Fund Network to register its collective investment trusts (CITs) on Nasdaq's platform. Each CIT will receive a unique Nasdaq ticker, enhancing their discoverability and access to information for financial professionals. Launched in response to institutional demand, these tax-exempt pooled investment vehicles aim to offer clients transparency similar to mutual funds. With assets managed by Manulife Investment Management, John Hancock manages approximately CAD$1.3 trillion.

Manulife Investment Management, a global leader in real estate asset management, announced its strategy to achieve an 80% reduction in greenhouse gas emissions for its real estate assets by 2050. The firm has implemented a comprehensive approach focusing on efficiency, fuel switching, onsite renewables, and carbon offsets. This initiative is part of a broader Climate Action Plan aiming for a 35% reduction in emissions by 2035. With real estate holdings totaling 63 million square feet, Manulife prioritizes sustainability and accountability in its operations.