Key Takeaways LMT's Missiles and Fire Control unit saw Q1 2025 sales rise 12.7% year over year on strong contract momentum. Recent wins include a $4.94B missile deal, $214.4M MLRS recapitalization and Gen 4 TADS/PNVS systems. Ongoing defense demand and global modernization trends continue to boost LMT's contract pipeline.Lockheed Martin Corp. (LMT) , the largest U.S. defense contractor, enjoys a prominent position in the global defense map. Through its Missiles and Fire Control (MFC) segment, it designs, ...

A month has gone by since the last earnings report for Manulife Financial (MFC) . Shares have added about 2.9% in that time frame, underperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Manulife due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.How Have Estimates Been Moving Since Then?It turn ...

南方财经全媒体记者 孙诗卉 实习生 涂盛青 上海报道 近日，香港特区政府《2024 年公司 （修订）（第 2 号） 条例》正式生效并宣布开始接受公司迁册，根 据该制度，迁册公司将享有过渡性税务安排和消除双重课税等一系列税务优惠。 5月23日，法国保险巨头AXA安盛宣布将安盛保险（百慕大）有限公司注册地迁至香港并更名为安盛金 融保险（香港）有限公司，公司表示，作为首批迁册回港的保险公司之一，相关决定体现公司对区内客 户的承诺，并展现公司全力支持巩固香港作为国际领先金融中心的决心。 6月6日，宏利人寿保险宣布，经相关监管机构批准后，自今年11月起，宏利人寿保险将根据香港特别行 政区政府新引入的公司迁册制度，正式从百慕大迁册至香港。宏利人寿表示，这项策略决策反映了公司 对香港作为国际金融中心地位的坚定信心。 普华永道金融行业管理咨询合伙人周瑾对21世纪经济报道记者表示，对于保险企业而言，若其看好香港 以及内地的保险市场，希望通过迁册的方式以便更快速做好战略和业务布局，且过程中减少法律和运营 迁移的成本，可以充分利用此次的迁册机制来加速。同时，香港保监局亦会配套做好保险业务经营许可 的审批，以便合格的迁册企业可以尽快 ...

Core Insights - Manulife Financial Corporation (MFC) has achieved a 52-week high of $33.07 and closed at $31.94, reflecting a 23.7% increase over the past year, outperforming the industry, sector, and S&P 500 composite [1][2] Company Performance - MFC has outperformed peers such as Primerica, Inc. (PRI), Reinsurance Group of America, Incorporated (RGA), and Voya Financial, Inc. (VOYA), with PRI gaining 21.8%, while RGA and VOYA saw declines of 1.2% and 11.2%, respectively [2] - MFC's market capitalization stands at $54.78 billion, with an average trading volume of 2.3 million shares over the last three months [2] Technical Analysis - MFC shares are trading above the 50-day and 200-day simple moving averages of $30.55 and $30.12, indicating strong upward momentum [5] Growth Strategy - MFC is focusing on high-growth, capital-light, and higher-return businesses to enhance earnings momentum, maintaining a target leverage ratio of 25% for financial flexibility [7] - The company aims for its Asia business to contribute half of its core earnings by 2025, indicating a strategic focus on this region for long-term growth [16] Valuation Metrics - MFC shares are trading at a price-to-earnings ratio of 10.53X, which is above the industry average of 8.13X, indicating a premium valuation [8] - The average price target from 12 analysts for MFC is $34.84 per share, suggesting an 8.9% upside from the last closing price [9] Earnings Projections - The Zacks Consensus Estimate for MFC's 2025 earnings per share indicates a year-over-year increase of 4.2%, with a projected increase of 7.7% for 2026 [13] - Analyst sentiment is positive, with three out of six analysts raising estimates for 2025 and five for 2026 in the past 30 days [14] Financial Health - MFC's return on equity over the trailing 12 months is 15.8%, surpassing the industry average of 15.3%, showcasing efficient use of shareholders' funds [15] - The company has maintained a free cash flow conversion rate of over 100% in recent quarters, reflecting strong earnings [18] Dividend Policy - MFC has increased its dividend at a seven-year compound annual growth rate (CAGR) of 10% and targets a dividend payout ratio of 35-45% over the medium term [18] Conclusion - MFC is positioned for growth driven by its strong Asia business, expanding Wealth and Asset Management operations, and solid capital position, with a medium-term expense efficiency ratio target of less than 45% [19]

It's been 6 months since my last piece on Manulife Financial Corporation (NYSE: MFC ) (TSX: MFC:CA ). In November, I rated the stock as a 'buy' noting excellent acceleration in growth in Asia and the Wealth and AssetI'm an insurance Case Manager with a deep interest in investing. My investment philosophy is all about buying high quality stocks and great businesses. My favorite businesses are those led by disciplined capital allocators, earn exceptional returns on capital, and can compound their invested cap ...

Jodie Wallis, Global Chief Analytics Officer, Outlines How Manulife is Using AI ResponsiblyC$ unless otherwise stated                                             TSX/NYSE/PSE: MFC     SEHK: 945TORONTO, May 22, 2025 /PRNewswire/ - Manulife's Responsible AI Principles were shared during the Reuters Momentum AI Summit in New York last month. These principles guide the design, development, and deployment of Manulife's Artificial Intelligence (AI) solutions, which includes over 43 GenAI use cases in production, ...

BOSTON, May 19, 2025 Manulife Investment Management, through certain affiliates, ("collectively, Manulife IM") today announced the formation of Lakefront Fiber, LLC ("Lakefront Fiber"), a joint venture with Midwest Fiber Networks ("MWFN")."We are pleased to partner with MWFN, with whom we have had a long-standing relationship, to support the build-out of Lakefront Fiber's extensive pipeline," said Recep Kendircioglu, Global Head of Infrastructure, Manulife Investment Management.Lakefront Fiber will facilita ...

Manulife Financial Corporation (MFC) delivered first-quarter 2025 core earnings of 69 cents per share, which missed the Zacks Consensus Estimate by 1.4%. The bottom line decreased 1.4% year over year. Core earnings of $1.2 billion (C$1.8 billion) declined 7.6% year over year. Core earnings decreased modestly, as continued business growth in Global WAM and Asia was offset by strengthened provisions related to expected credit loss of $45 million post-tax in the first quarter of 2025, and a provision for the C ...

Core Insights - The company reported a core profit of CAD 1.767 billion for the three months ending March 31, 2025, a decrease of 1% year-over-year [1] - Net income attributable to shareholders was CAD 485 million, down 47% compared to the previous year [1] - The global wealth and asset management business saw net inflows of CAD 500 million, significantly lower than the CAD 6.7 billion net inflows achieved in the first quarter of 2024 [1] Business Performance - The company started the new year with strong momentum, achieving record new business performance in the insurance sector for the quarter [1] - All business units in the insurance sector experienced double-digit growth in new business value, with Asia showing a year-on-year increase of 43% [1] - Core profit in the global wealth and asset management business grew by 24%, with a core EBITDA margin expansion of 290 basis points [1] Strategic Developments - The company completed its second long-term care reinsurance transaction, demonstrating its commitment to creating sustainable value for shareholders [1] - The company expressed confidence in navigating the current economic environment and seizing growth opportunities, supported by a robust balance sheet [1] - The LICAT ratio remained strong at 137%, and the financial leverage ratio was at 23.9%, within the mid-term target range of 25% [1]

Business Performance - The new business value in the insurance sector reached a record high, with a year-on-year growth of 43% in Asia, contributing to a 36% increase in new business value overall [4]. - Core earnings for Q1 2025 were CAD 1.767 billion, a decrease of 1% compared to Q1 2024, while net income attributable to shareholders was CAD 485 million, down 47% [6]. - Core EPS increased by 3% to CAD 0.99, while overall EPS fell by 48% to CAD 0.25 [6]. - APE sales rose by 37% to CAD 2.689 billion, and new business CSM increased by 31% to CAD 907 million [6]. - In Q1 2025, core earnings were CAD 1.8 billion, a decrease of 1% compared to Q1 2024 [13]. - Net income attributable to shareholders in Q1 2025 was CAD 500 million, down CAD 400 million from Q1 2024, primarily due to increased net provisions from market experience [14]. - APE sales, new business CSM, and new business value in the insurance sector grew by 37%, 31%, and 36% year-over-year, respectively, in Q1 2025 [15]. - Core earnings for Q1 2025 totaled CAD 1,767 million, a decrease from CAD 1,907 million in Q4 2024 but an increase from CAD 1,710 million in Q1 2024 [24]. - The net income attributable to shareholders for Q1 2025 was CAD 485 million, down from CAD 1,638 million in Q4 2024 and CAD 866 million in Q1 2024 [24]. Financial Metrics - The LICAT ratio remained strong at 137%, and the financial leverage ratio was 23.9%, within the mid-term target range of 25% [4]. - The core EBITDA margin for the global wealth and asset management business expanded by 290 basis points to 28.4% [8]. - The market experience loss for Q1 2025 was CAD 1,332 million, compared to a loss of CAD 192 million in Q4 2024 and a loss of CAD 779 million in Q1 2024 [24]. - The company reported a core earnings tax adjustment of $331 million for Q1 2025, consistent with the effective rates applied during the reporting period [31]. - The company reported a total investment income of $3,242 million for Q1 2025, down from $4,628 million in Q4 2024 [49]. - The company’s total income before tax was $1,252 million, with a significant contribution from the Asia segment at $594 million [35]. - The company’s core earnings tax adjustment for Q1 2024 was $330 million, reflecting the effective tax rate applied [37]. Market and Strategic Initiatives - The company launched FutureStepTM, a new digital retirement plan product for small businesses in the U.S., enhancing its market presence [9]. - A strategic partnership with China Banking Corporation was extended for 15 years to provide comprehensive financial solutions in the Philippines [9]. - The company completed a reinsurance transaction with Reinsurance Group of America, releasing capital to be returned to shareholders through a new share buyback plan [9]. - The company is focusing on expanding its market presence and enhancing its product offerings as part of its strategic initiatives [23]. - The company plans to return capital through share buybacks as part of its strategy to achieve mid-term financial and operational goals [50]. Regional Performance - In Asia, APE sales, new business CSM, and new business value reached record highs, growing by 50%, 38%, and 43% year-over-year, respectively [18]. - In Canada, APE sales increased by 9%, with new business value growing by 15% compared to Q1 2024 [18]. - The net income from Asia for Q1 2025 was $624 million, up from $583 million in Q4 2024, while the U.S. reported a loss of $569 million [45]. - The net income from Canada for Q1 2025 was $222 million, a decrease from $439 million in Q4 2024 [45]. Risks and Uncertainties - The company emphasizes that forward-looking statements are subject to significant risks and uncertainties, which may cause actual results to differ materially from expectations [50]. - Key factors affecting actual performance include general business and economic conditions, market volatility, interest rates, and credit spreads [52]. - Future performance may be influenced by geopolitical uncertainties, including international disputes and trade issues [52]. - The potential impact of climate change and environmental factors on the company's operations is acknowledged as a significant risk [52]. - The company acknowledges the importance of adapting to market changes and retaining key personnel to ensure operational effectiveness [52].