CA - Manulife Financial: A Hidden Gem Insurance Company Deserving Of Your Attention

2024-06-09 08:30:00 ET

Summary

• Manulife Financial Corporation investors have outperformed the S&P 500 easily over the past year.
• Despite this, MFC is still reasonably valued with a "C+" valuation grade.
• Manulife benefits from robust growth opportunities in Asia and its recovering global wealth management business.
• I explain why MFC's bullish rally is still well-positioned to resume, despite facing near-term volatility.
• I argue why investors should consider capitalizing on MFC's recent weakness before it potentially surges higher.

Manulife Stock Outperformed The Market

Manulife Financial Corporation ( MFC ) (MFC:CA) investors have outperformed the S&P 500 ( SPX ) ( SPY ) over the past year, as MFC stock delivered a 1Y total return of more than 40%. Despite that, MFC is valued reasonably with a "C+" valuation grade assigned by Seeking Alpha Quant. The valuation bifurcation has closed as investors turned more optimistic about the leading global insurer and financial services company....

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