Manulife Financial (MFC) Stock

Manulife Financial's stock has risen due to strong performance in its Asia operations, growth in its Wealth and Asset Management sector, and a strong financial position.

Manulife Financial has been upgraded to a buy rating from my previous hold rating because future revenue and earnings prospects look promising. In the third quarter, there was year-on-year growth in new insurance policies and an increase in client investments in its wealth management sector. Additionally, its profit margin outperforms major competitors, and improvements driven by AI are anticipated to reduce costs in certain areas.

C$ unless stated otherwise TSX/NYSE/PSE: MFC SEHK: 945 TORONTO, Dec. 10, 2024 /PRNewswire/ - Manulife Financial Corporation ("Manulife" or the "Company") has revealed that its Board of Directors has approved the re-appointment of Ernst & Young LLP ("EY") as the external auditor for the Company. This decision came after a detailed and competitive process to select an external auditor.

C$ unless stated otherwise TSX/NYSE/PSE: MFC SEHK: 945 TORONTO, Dec. 9, 2024 /PRNewswire/ - Manulife has received notice of an unsolicited mini-tender offer from New York Stock and Bond LLC to buy up to 50,000 of its common shares, which is less than 0.003% of the total shares available, at a price of USD$12.50 each. Manulife is not connected to New York Stock and Bond and does not support or recommend accepting this unsolicited offer.

Manulife Financial Corporation announced on December 5, 2024, that holders of its 14,000,000 Non-cumulative Rate Reset Class 1 Shares Series 17 cannot convert them into Non-cumulative Floating Rate Class 1 Shares Series 18. The deadline for conversion was December 4, 2024, and only 6,650 Series 17 shares were elected for conversion, which is below the required minimum of one million shares. Therefore, the conversion will not take place.

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C$ unless stated otherwise TSX/NYSE/PSE: MFC SEHK: 945 The prospectus supplement, along with the related base shelf prospectus and any amendments for this offering, will be available on SEDAR+ within two business days. TORONTO, Dec. 3, 2024 /PRNewswire/ - Manulife Financial Corporation ("MFC") announced today its plan to issue $1 billion in 4.064% fixed/floating subordinated debentures that will mature on December 6, 2034 (the "Debentures").

MFC seems ready for growth due to its improving business in Asia, the expansion of its Wealth and Asset Management services, cost-saving measures to boost profits, and a strong financial position.

Is Manulife Financial (MFC) a strong choice for momentum investors? Let's take a closer look.