|Bid||19.58 x 0|
|Ask||19.61 x 0|
|Day's Range||19.29 - 19.63|
|52 Week Range||12.58 - 27.78|
|Beta (5Y Monthly)||1.15|
|PE Ratio (TTM)||10.03|
|Earnings Date||Aug 05, 2020|
|Forward Dividend & Yield||1.12 (5.76%)|
|Ex-Dividend Date||Aug 14, 2020|
|1y Target Est||23.63|
(Bloomberg) -- Manulife Financial Corp. shares rose the most in two months after posting second-quarter earnings that topped analysts’ estimates thanks in part to lower insurance claims in the U.S. and Canada.Shares of Canada’s largest life insurer rose as much as 5.4% in Toronto trading, their biggest intraday increase in two months. Manulife on Wednesday reported a 7.5% increase in core earnings to C$1.56 billion ($1.17 billion), or 78 Canadian cents a share, beating the 62-cent average estimate of 14 analysts in a Bloomberg survey.Manulife’s “better-than-expected results were driven by the U.S. and Canada on favorable policyholder experience,” RBC Capital Markets analyst Darko Mihelic said in a note to clients, citing gains from the U.S. long-term care business and in the Canada group business.U.S. earnings led the growth, with a 37% surge from a year ago, followed by a 9.6% earnings jump from its Canadian division. Net income fell 52% to C$727 million after Manulife recorded losses of C$916 million from investments and C$495 million tied to interest rates, partly countered by improving equity markets.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Manulife (MFC) Q2 reflects favorable policyholder experience and in-force business growth in Asia
Manulife Financial Corp's <MFC.TO> focus on containing costs will be a key driver of its target of 10% to 12% growth in core earnings per share next year and beyond, its chief executive said on Thursday. Costs will be a "critical driver that gives us confidence in achieving that 10% to 12% core earnings growth," CEO Roy Gori said on an analyst call. Manulife's core general expenses in the quarter dropped 5% from a year earlier, and it expects C$1 billion ($753.64 million) in expense efficiencies by year-end, two years ahead of schedule.