10 Best Undervalued Stocks to Buy Right Now

8) Manulife Financial Corporation (NYSE:MFC)

Forward P/E Ratio as of 8 November: 11.00x

Number of Hedge Fund Holders: 22

Manulife Financial Corporation (NYSE:MFC) offers financial products and services in the US, Canada, Asia, and internationally.

Market analysts are quite optimistic about Manulife Financial Corporation (NYSE:MFC)’s EPS growth trajectory given the growth potential in Manulife’s Asia and Global Wealth and Asset Management (GWAM) segments. Manulife Financial Corporation (NYSE:MFC) continues to pursue strategic initiatives in a bid to enhance shareholder value and optimize its business portfolio. A critical development was the company’s progress in reducing its exposure to legacy risks and Alternative Long-Duration Assets (ALDA).

Given Manulife Financial Corporation (NYSE:MFC)’s capital position, analysts believe that it is well-placed to pursue strategic growth opportunities, like acquisitions or investments in high-growth markets, mainly in Asia. Such investments are expected to drive long-term revenue growth and market share expansion, resulting in increased shareholder value. In Asia, Manulife Financial Corporation (NYSE:MFC) can capitalize on the region’s expanding middle class, higher life expectancy, and improved demand for insurance and wealth management products. Its established presence in key Asian markets places it well to capture a larger share of this growth potential.

Manulife Financial Corporation (NYSE:MFC) has maintained its focus on pivoting to a business model with lower risk and higher ROE. Moreover, it continues to emphasize the quality and productivity of agents in Asia. The company has been expanding its customer reach with the help of strategic partnerships and new product offerings. In Global WAM, Manulife Financial Corporation (NYSE:MFC) completed the acquisition of CQS, which is a U.K.-based multi-sector alternative credit manager.