John Hancock Preferred Income Fund Common Shares of Beneficial Interest (HPI)

FairStock Score: 61/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a closed-end fund, this is not an operating business with a conventional moat. It owns preferred value stocks, convertible preferreds, and investment-grade fixed-income securities; its edge would come from John Hancock's management and access to those markets, but the supplied figures do not show a durable competitive advantage. The financial picture is mixed. At the 2026-10-13 close of $13.65, FairStock calculations show P/B of 0.85, P/E of 10.58, a Graham Number of $21.62, and a margin of safety of 36.86%. That looks statistically cheap, and the 10.01% dividend yield is high. Beta is 0.77, suggesting less price volatility than the market. But cheapness needs a catalyst and safety. ROE is only 7.97%, ROCE is 3.79%, and the Piotroski F-Score is 0/9 while the Altman Z-Score is 0.80—fairly weak signs for financial health. D/E of 0.60 shows leverage. Growth is impossible to judge: revenue growth and profit growth are N/A, and there are only 0 years of filed results, so the Lynch category is none. The 52-week range, $13.50 to $17.42, shows the shares are near the low. At 0.85 times book, the price may already discount trouble. But without filed history, I would treat the 10% yield as a question mark, not a margin of safety.

In plain English: This is a closed-end fund that owns preferred stocks, convertible preferreds, and fixed-income securities. Its numbers look mixed: the price is below accounting value and the income yield is very high, but profitability and balance-sheet signals look weak. The price looks cheap versus its accounting value, yet there is very little filed history to judge how durable the fund's results are.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer