I was part of the demutualization and decided to keep all stocks. I was disappointed with the opening price (12 as opposed to expected 18), but with news of coverage by various firms, it seems to be coming around a bit. Another Canadian company (I forget the name) went public this week and its price did pretty well, although MFC seems to be blaming the overall market sector for its depressed price. I must confess, this is a sector that I don't know much about, so any conversation would be welcome.
i to was part of the demutualization and i'm holding the stock for two reasons. First, i don't want to pay 39% tax when i can wait one year and pay 20%. Second, the top people at manulife invested 20,000,000 of their own money and i know the president will make this company grow. I also invested another 100,000 to buy more. Mfc should be a winner.
I'm gonna hold. MFC has a P/E of 8.2 is well positioned in the Asian market (which is rebounding), and has all sorts of potential for expansion in the US (with the banking reforms that have just been passed).
I think the reason it's been such a flat offering is that it just hasn't hit the institutional investors radar screens yet, and frankly insurance companies don't really generate a lot of excitement for the the individual investor.
rc11 - I'm in the same boat. I consider the $10K worth I got found money. I sort of look at this as buying 803 shares at $.01. Yes, one cent. I never expected to see anything. I would say it was a price of zero, but that messes up my portfolio calculations.
Like you I have no experience at all with the insurance industry, although I'm just starting to understand that MFC is a lot more than insurance.
I guess I can afford to learn more for quite a while. I'm in no hurry to sell. I don't need a new livingroom :-)
Like everyone else (two of you), I am no by no means an expert in the insurance/financial services industry. However, I do know that MFC is an EXTREMELY well established firm with excellent earnings. There is a tremendous amount of 'old money' affiliated with MFC.