Manulife Financial
Provides insurance, retirement, banking, and asset-management services across Asia and North America.
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Profile
Provides life and health insurance, retirement solutions, banking, and wealth and asset management across Asia, Canada, and the United States. Regional insurance brands and distribution networks feed a global investment platform, while reinsurance and in-force management reshape legacy long-term-care, annuity, and guarantee exposures.
Provides life and health insurance, retirement solutions, banking products, and wealth and asset management through four operating segments: Asia, Canada, U.S., and Global Wealth and Asset Management. The Manulife brand serves Canada and Asia, while John Hancock is the primary U.S. identity.
Combines regional insurance distribution with a global retail, retirement, and institutional investment platform spanning public and private markets. The Canadian business also includes Manulife Bank, and the U.S. operation maintains legacy long-term-care and annuity books alongside life insurance and insurance-based wealth solutions.
Growth priorities have emphasized Asia and fee-based wealth and asset management, while reinsurance and in-force management have reduced exposure in legacy guaranteed products. Earnings and capital remain shaped by insurance regulation, market sensitivity in guarantee books, and the performance of distribution networks across multiple jurisdictions.
Company facts
Categories
Key statistics
Year to date +18.1% · Average volume (30d) 2.1M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior target | Target |
|---|---|---|---|---|
| Dec 15, 2025 | Morgan Stanley | Target | $47 | $51 |
| Oct 7, 2025 | Morgan Stanley | Target | $48 | $47 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $0.78 | $0.79 | +1.3% | $7.28B | $13.87B | +90.4% | +0.29% |
| May 13, 2026Q1 FY26 | $0.79 | $0.77 | −2.5% | $2.32B | $8.83B | +281.3% | −5.80% |
| Feb 11, 2026Q4 FY25 | $0.76 | $0.80 | +5.3% | $1.70B | $6.27B | +268.7% | −5.49% |
| Nov 12, 2025Q3 FY25 | $0.74 | $0.84 | +13.5% | — | $12.41B | — | 0.00% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $6.51B | $29.58B | $12.45B | $6.19B | $8.85B | $14.18B | |
| Gross profit | $1.64B | $2.70B | $2.77B | $4.70B | $8.85B | $3.17B | |
| Operating income | $502.8M | $1.63B | $1.60B | $1.37B | $1.06B | $1.99B | |
| Net income | $400.7M | $1.35B | $1.29B | $1.12B | $860.4M | $1.57B | |
| Diluted EPS | $0.18 | $0.70 | $0.73 | $0.59 | $0.46 | $0.86 | |
| Gross margin | 25.2% | 9.1% | 22.2% | 76.0% | 100.0% | 22.4% | |
| Operating margin | 7.7% | 5.5% | 12.9% | 22.1% | 11.9% | 14.1% |
Fiscal years (4-quarter sums)FY21 $43.05B · FY22 −$12.50B · FY23 $36.78B · FY24 $52.11B · FY25 $54.73B
Balance sheet, Jun 30, 2026Cash & short-term investments $27.27B · Total debt $10.16B · Total assets $786.96B · Shareholders' equity $38.31B
Dividends
Raised for 12 straight years — most recently to $0.3523 from $0.3518 in Aug 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 21, 2026 | Aug 21 | Sep 21 | $0.3523 | raised from $0.3518 |
| May 29, 2026 | May 29 | Jun 19 | $0.3518 | cut from $0.3545 |
| Feb 25, 2026 | Feb 25 | Mar 19 | $0.3545 | raised from $0.313 |
| Nov 26, 2025 | Nov 26 | Dec 19 | $0.313 | cut from $0.3171 |
| Aug 20, 2025 | Aug 20 | Sep 19 | $0.3171 | cut from $0.3183 |
| May 21, 2025 | May 21 | Jun 19 | $0.3183 | raised from $0.3057 |
| Mar 5, 2025 | Mar 5 | Mar 19 | $0.3057 | raised from $0.2856 |
| Nov 20, 2024 | Nov 20 | Dec 19 | $0.2856 | cut from $0.2945 |
Ownership
Shares outstanding 1.67B · Float 1.67B · 99.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Royal Bank of Canada | 108.02M | 6.47% | 13F | Aug 14, 2026 |
| Bank of Montreal /Can/ | 56.77M | 3.40% | 13F | Aug 12, 2026 |
| Vanguard Capital Management LLC | 48.45M | 2.90% | 13F | Aug 13, 2026 |
| TD Asset Management Inc | 31.32M | 1.88% | 13F | Aug 4, 2026 |
| Mackenzie Financial Corp | 29.51M | 1.77% | 13F | Aug 13, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Sun Life Financial
Closest four-pillar peer across insurance, wealth, health, and Asia
- Prudential (ADR)
Asia-focused rival in life, health, savings, and asset management
- Prudential Financial
U.S. life, retirement, and global investment-management rival
- MetLife
Global life, benefits, retirement, and Asia insurance rival
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Manulife Financial | $42.70 | −0.20% | $71.36B | 16.2 | 13.1 | 1.7 | +22.6% |
| Sun Life Financial | $79.09 | +0.39% | $43.64B | 18.6 | 18.4 | 1.5 | +57.7% |
| Prudential (ADR) | $27.65 | +0.04% | $34.40B | 9.5 | — | 1.1 | — |
| Prudential Financial | $119.79 | +0.01% | $41.57B | 10.8 | 8.5 | 0.6 | +2.8% |
| MetLife | $97.91 | +1.46% | $62.10B | 18.5 | 9.2 | 0.8 | +10.0% |
| Median | 14.7 | 9.2 | 1.0 | +10.0% |