Manulife Financial CorporationNYSE
Mon, Nov. 28, 11:33 AM
- The company priced $270M unsecured senior notes due on December 2, 2026, bearing a fixed interest rate of 3.527%.
- The offering is expected to close on or about December 2, 2016. Net proceeds will be used for general corporate purposes.
Mon, Nov. 14, 3:47 PM
- Unsurprisingly given their run of late, financials dominate the list:
- Bank of America (BAC +5%)
- Citigroup (C +1.5%)
- Citizens Financial (CFG +3.1%)
- Discover (DFS +3.1%)
- First Republic (FRC +2.5%)
- Goldman Sachs (GS +2.2%)
- Humana (HUM +3%)
- Manulife (MFC +2.9%)
- Northern Trust (NTRS +3%)
- PNC Financial (PNC +1.7%)
- Regions Financial (RF +6.5%)
- Schwab (SCHW +1.6%)
Thu, Nov. 10, 12:32 PM
- The regulatory regime will be "more constructive" under a President Trump, says management at the company's investor day.
- Webcast and presentation slides
- Of the post-election surge in interest rates, CIO Steve Goulart says he's a fan, and that the move is "favorable to us."
- Ahead of today's meeting, the company announced a $3B buyback plan.
- MET's 4.7% gain in this session puts the two-day advance at about 12% - the best two-day move for the stock since 2009.
- Other insurers: Prudential (PRU +3.1%), Manulife (MFC +7.2%), Sun Life (SLF +8.3%), Lincoln Financial (LNC +2%), Primerica (PRI +10.6%), Voya (VOYA +6.2%), AIG (AIG +3.2%)
Thu, Nov. 10, 6:15 AM
Thu, Nov. 10, 6:01 AM
Wed, Nov. 9, 5:30 PM
Mon, Sep. 26, 3:13 PM
- In what doesn't sound like great news for the already-yield-starved insurance industry, cash balances are "ticking upward," says Zach Buchwald, head of BlackRock's insurance asset-management operation.
- Buchwald: “In today’s environment, where every basis point is so precious, within your core fixed income, we want to be investing wisely and generating the best risk-adjusted returns we can, and a large cash balance doesn’t help.”
- Nearly half of 315 insurers surveyed globally expect to boost cash holdings in coming months - that's up from 36% a year ago, says BlackRock. At issue are poor performance in alternative investments and credit concerns following a sizable narrowing in spreads this year.
- Struggling insurers are past the point of expecting rising interest rates, says Buchwald. So - other than cash - where else will the money go? Allocations to private-equity appear to be set to rise, and outfits like AIG are turning to direct lending. At MetLife (NYSE:MET), commercial real estate loans hit a record last year.
- Other interested parties: PRU, LNC, MFC, SLF, PRI, VOYA
Thu, Sep. 8, 12:20 PM
Thu, Aug. 4, 12:36 PM
- It was a meaningful miss, says CIBC, noting core EPS of $0.40 stood against consensus and the team's forecast of $0.46. "Though we do not expect straight-line earnings progress, this quarter is a bigger step down than we would like to see."
- A compelling long-term valuation means little in the near-term, says CIBC, downgrading to Sector Performer.
- via Amber Kanwar
- MFC -5.1%
Thu, Aug. 4, 6:14 AM
Thu, Aug. 4, 6:01 AM
Wed, Aug. 3, 5:30 PM
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Thu, Jun. 9, 9:22 AM
- Former Ignis Asset Management CIO Chris Fellingham has been hired to fill the newly-created role of head of liquid alternative strategies at Manulife (NYSE:MFC). Prior to working at Ignis, Fellingham was a partner at Soros Fund Management.
- At Manulife, he'll be in charge of driving expansion of the insurer's absolute return and outcome oriented products.
Wed, May 11, 6:36 PM
- Husky Energy (OTCPK:HUSKF), fresh off a C$595M sale of Saskatchewan oil and gas assets, is working on some smaller deals that would raise the proceeds from western Canadian oil and gas asset sales to ~C$1B, Bloomberg reports.
- In addition to this week's deal, five E&P packages are close to being sold that could fetch ~C$400M, according to the report, which lists Crescent Point Energy (NYSE:CPG), Canadian Natural Resources (NYSE:CNQ) and Manulife Financial’s (NYSE:MFC) NAL Resources Management as possible buyers.
- The latest round of disposals would bring Husky’s total gain from midstream assets, E&P assets and royalty interests to ~C$2.86B.
Wed, May 11, 7:25 AM
- In its second attempt at a Singapore IPO of its U.S. office property portfolio, Manulife (NYSE:MFC) plans to price the sale of 566M units of the REIT at S$0.83 each - the top of the expected range, reports Bloomberg.
- The REIT is backed by three office buildings in L.A. and Atlanta.
- The IPO is a sizable one for Singapore, which hasn't seen one for more than $100M since November.
Fri, May 6, 12:58 AM
- Manulife Financial (NYSE:MFC) declares C$0.185/share quarterly dividend, in line with previous.
- Forward yield 4.04%
- Payable June 20; for shareholders of record May 17; ex-div May 13.