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Meanwhile, though SLF's price did decline during COVID, the meagre 0.6% decrease was nothing compared to the industry average.Īll in all, these factors make SLF a good buy. The entire financial industry saw an average share price drop of 15.7% or more. Compare that to the market's average return on equity of 10.8%. Even though it was down due to COVID, SLF's return on equity was 14.2% in 2020. SLF is a relatively steady investment with a long track record to refer to. Is SLF a Good Buy for RRSP and TFSA Accounts? These are all good signs that the price of SLF will increase. Zack's Industry Outlook also ranked SLF #1, which means it's in the top 5% of stocks with the highest earning potential. The annual dividend yield is 3.6%, which is higher than the stock market industry average of 3.3%.Īs we mentioned above, analysts project that SLF is trading at least 50% below its actual value. The company pays out common shares of CAD0.55 and a range of preferred shares of approximately CAD0.09 to CAD0.3. Best and DBRS rated the share Superior and Excellent, respectively.Īll of these ratings imply that Sun Life Financial is prepared to meet its financial obligations to shareholders. Moody's also rated SLF "High Quality" while A.M. The S&P rated SLF a "very strong" buy in all of the company's operating markets. But the company will also fund new acquisitions, execute share buybacks, and repatriate partnerships to increase revenue potential. Sun Life Financial plans to use these funds primarily for organic growth. The company's debt to capital rating is 22.7% or CAD300 million in debt to CAD30 billion in securities. It has CAD1.8 billion in cash on hand and CAD3.1 billion in leverage. Sun Life has a total of CAD5 billion in potential capital. The excess working capital will also support reinvestment into organic growth opportunities. It's highly liquid, allowing Sun Life to offset its liabilities. The company also has a strong balance sheet. It has reported that it plans to become a leader in Asian life insurance. The company has also increased its sales advisors on the ground in Asia by 9% YOY. Sun Life recently reported 27% more sales of its insurance products in Asia. It recently entered the Vietnamese and Malaysian markets, too. Sun Life Financial currently has penetration in China, the Philippines, Indonesia, India, and Hong Kong. SLF's US benefits group will also see new opportunities from the US's growing life insurance coverage gap.Īsia is the world's biggest and fastest-growing market. This vertical recently acquired a leading US health care provider, which will expand its market reach. Sun Life offers group benefits to employers in the US. Sun Life's Guaranteed Investment Fund also had record sales of $330 million. In its most recent investor presentation, Sun Life reported that its Canadian business is growing. The majority of SLF's business (30%) is done globally through its asset management business. Only 20% of revenues come from Canada, with the US (18%) and Asia (16%) markets following close behind. Here are the top three opportunities Sun Life can seize for organic growth. This discrepancy stands to increase even further, too, because of Sun Life's growth opportunities.
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Earnings have increased 2% every year for the past five years future earnings should compound to 8.47% per year.Īnalysts estimate that SLF is trading below its fair value price by at least 52%. And now, analysts project its growth rate will escalate. The company brought in revenues of CAD39.67 billion in 2019. In 2020, the company reported USD1.25 trillion assets under management. It's also one of the largest insurance companies in the world. Sun Life Financial has been around since 1865, making it one of the world's longest-standing insurance companies. Keep reading for everything you need to know about Sun Life Financial. In fact, the stock is gearing up to overcome its previous all-time high of CAD66.44 in February 2020.īut is SLF a good investment for your portfolio this year? We'll help you figure out the answer to that question with this guide. SLF has experienced a steady bull run since its COVID-related drop. This is nearly a 19.42% year-over-year (YOY) increase from 2020, when SLF hit its all-time low of CAD36.44 on March 16th. The Sun Life stock price was CAD64.53 at close on May 12th. TSX: SLF specializes in life insurance, but it also offers group benefits, wealth solutions, and is a global asset manager. It trades on Toronto Stock Exchange (TSX) as "SLF". Sun Life Financial is a Canadian financial services company. Sun Life Stock Price and Company Profile.