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Investing

Fifteen Moat Overvalued Companies: Manulife

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published

Manulife (MFC) is the second largest life insurance firm in North America. It recently bought John Hancock Financial Services. Four years ago, the stock traded for $9. It now changes hands at $33. At $54 billion, the company’s market cap is twices its annual revenue. By contrast, Met Life trades at about 1x revenue.

Manulife has large businesses in insurance, wealth management, and long-term care.

Long-term interest rates are likely to put pressure on the company’s financial performance. BMO Capital Markets recently downgraded the company from "Outperform" to "Market Perform".

Manulife says that it is focusing on acquistions, so, depending on what kind of firm the company buys, earning could be diluted in the next year or two.

UBS recently dropped its price target on the company because of moderating sale growth.

Good company. Over-bought.

Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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