Manulife’s Acts of Kindness Program Returns


This article was originally published on TipRanks.com

Manulife Financial (MFC) has the launch of 2021 Acts of Kindness program.

First launched in 2020, this year’s #ManulifeActofKindness program once again enables employees around the world to show generosity. (See Insiders’ Hot Stocks on TipRanks)

Paying it Forward 

In an effort to help people live better this holiday season, Manulife is giving each of its 37,000 global team members the equivalent of C$50 in their local currency to make a gesture of kindness in their communities.

Manulife also partners with organizations that share its values to bring about meaningful changes that allow people to live healthier and more financially secure lives. In 2020, the company’s direct donations totaled C$21 million.

Management Commentary 

Manulife president and CEO Roy Gori said, “Our success as a company depends on the success of the communities we serve, and we recognize this has been a difficult time for many individuals, families and communities around the world. We believe that, taken together, small gestures of kindness can have a big impact and that’s why we’re so excited to be bringing back our #ManulifeActofKindness program.”

Wall Street’s Take 

On November 17, National Bank analyst Gabriel Dechaine reiterated a Hold rating on MFC and raised its price target to C$28 (from C$27). This implies 21.2% upside potential.

The rest of the Street is cautiously optimistic on MFC with a Moderate Buy consensus rating based on four Buys and five Holds. The average Manulife Financial price target of C$31.80 implies 37.7% upside potential to current levels.

TipRanks’ Smart Score

MFC scores a 6 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock returns are likely to be in line with the overall market.

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