Manulife Financial Corp
MFC: XTSE (CAN)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
CAD 53.00 | Rszmz | Hktjctwcp |
Decent Finish to 2021 for Manulife
No-moat-rated Manulife reported decent fourth-quarter financial results. Core EPS of CAD 0.84 came in a touch above the FactSet consensus of CAD 0.82. Core earnings grew thanks to increases in the wealth- and asset-management unit, lower corporate expenses, and higher core investment gains. Overall, there was little that would alter our long-term view of the firm, and we will maintain our fair value estimate of CAD 28 per share.