SLF.TO - Sun Life Financial Inc.

Toronto - Toronto Delayed Price. Currency in CAD
46.60
-0.46 (-0.98%)
At close: 4:00PM EDT
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Previous Close47.06
Open47.25
Bid46.59 x 0
Ask46.72 x 0
Day's Range46.34 - 47.25
52 Week Range35.43 - 66.44
Volume4,680,826
Avg. Volume2,832,573
Market Cap27.244B
Beta (5Y Monthly)0.97
PE Ratio (TTM)11.56
EPS (TTM)4.03
Earnings DateJul. 29, 2020
Forward Dividend & Yield2.20 (4.67%)
Ex-Dividend DateMay 26, 2020
1y Target Est53.79
  • CNW Group

    Sun Life Global Investments announces vote results of Special Meetings of Securityholders

    TORONTO , May 22, 2020 /CNW/ - Sun Life Global Investments (Canada ) Inc. ("Sun Life Global Investments") announced today securityholder approval to proceed with changes to select mutual funds ...

  • The Canadian Press

    Most actively traded companies on the TSX

    TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:Toronto Stock Exchange (14,884.85, down 112.78 points.)Sun Life Financial Inc. (TSX:SLF). Financials. Up 18 cents, or 0.38 per cent, to $47.06 on 25.2 million shares.Manulife Financial Corp. (TSX:MFC). Financials. Down two cents, or 0.12 per cent, to $16.15 on 17 million shares.The Green Organic Dutchman Holdings. (TSX:TGOD). Health care. Down three cents, or 6.52 per cent, to 43 cents on 15.5 million shares.Bombardier Inc. (TSX:BBD.B). Industrials. Down 1.5 cents, or three per cent, to 48.5 cents on 11.7 million shares.Zenabis Global Inc. (TSX:ZENA). Health care. Up one cent, or 6.67 per cent, to 16 cents on 11.1 million shares.Aurora Cannabis Inc. (TSX:ACB). Health care. Up $6.29, or 35.32 per cent, to $24.10 on 9 million shares.Companies in the news:Canada Goose Holdings Inc. (TSX:GOOS). Up $1 or 3.5 per cent to $29.33. More retailers have announced layoffs and store closures at their Canadian operations as they continue to grapple with the impacts of the COVID-19 pandemic. Canada Goose Holdings Inc. announced Wednesday it would lay off 125 employees, or about 2.5 per cent of its more than 5,000-person workforce. It was a "difficult, but responsible decision," the company said in a statement. The Toronto-based retailer closed its North American and European retail stores on March 17, joining a wave of government mandated and voluntary store closures to help curb the spread of the virus.STEP Energy Services Ltd. (TSX:STEP). Down 4.5 cents or 9.7 per cents to 42 cents. Canada's oilfield services sector is in for "an immense amount of pain" over at least the next year thanks to low North American oil and gas exploration activity amid a worldwide glut of cheap crude, according to a report from CIBC. Drilling and well completion companies stand to suffer the most as producers will be reluctant to reverse cuts in spending and production linked to the COVID-19 pandemic and its affect on fuel demand, the analysts warn. On Thursday, Calgary-based STEP Energy Services Ltd. was the latest oilfield service provider to report a series of measures to deal with sharply lower demand that began in mid-March. The measures include job cuts, wage rollbacks, parked equipment and reduced capital spending in its hydraulic fracturing and coiled tubing well service operations in Canada and the U.S.Heroux-Devtek Inc. (TSX:HRX). Up 43 cents or 4.8 per cent to $9.40. Landing gear manufacturer Heroux-Devtek Inc. intends to focus on the defence side of its business to overcome a slow recovery expected in commercial aviation due to COVID-19. Chief executive Martin Brassard said the Quebec-based company is "optimistic" about its growth prospects in this area, adding that it will take two to three years before commercial aviation returns to the level of activity that prevailed before the pandemic. Heroux-Devtek lost $72 million or $1.98 per share in the fourth quarter following $85.8 million in non-cash impairment charges to reflect the forecast drop in commercial sector demand. That compared with a $12-million or 34 cents per share profit a year earlier.Shopify Inc. (TSX:SHOP). Up $41.22 or 3.8 per cent to $1,118.22. The head of Shopify Inc. has declared that "office centricity is over" as the company moves to a permanent remote-work model for most employees, with no intention of reopening offices this year. Shopify offices will remain closed until 2021, and then reopen with a significant shift in purpose as the company looks to make the remote work experience the same as for those in the office. Chief executive Tobi Lutke said COVID is challenging us all to work together in new ways. Lightspeed POS Inc. (TSX:LSPD). Up $9.38 or 37.8 per cent to $34.18. Shares in Lightspeed POS Inc. surged Thursday after it reported revenue in its latest quarter increased 70 per cent compared with a year ago as demand for its e-commerce offerings soared in the wake of the COVID-19 pandemic. However, the retail payment technology firm said it expects the total dollar volume of transactions by its customers and demand for its services will be impacted and business failures among its customers, which includes restaurants and retailers, will increase so long as physical distancing measures remain in place in the core markets it serves.This report by The Canadian Press was first published May 21, 2020.The Canadian Press

  • CNW Group

    Sun Life Announces Conversion Privilege of Class A Non-Cumulative Rate Reset Preferred Shares Series 8R and Class A Non-Cumulative Floating Rate Preferred Shares Series 9QR

    TORONTO , May 20, 2020 /CNW/ - Sun Life today announced that it does not intend to exercise its right to redeem its currently outstanding Class A Non-Cumulative Rate Reset Preferred Shares Series 8R (the "Series 8R Shares") nor its currently outstanding Class A Non-Cumulative Floating Rate Preferred Shares Series 9QR (the "Series 9QR Shares") on June 30, 2020 . As a result, subject to certain conditions, the holders of Series 8R Shares have the right to convert all or part of their Series 8R Shares on a one-for-one basis into Series 9QR Shares, and the holders of Series 9QR Shares have the right to convert all or a part of their Series 9QR Shares on a one-for-one basis into Series 8R Shares, in each case on June 30, 2020 . Holders of Series 8R Shares who do not exercise their right to convert their Series 8R Shares into Series 9QR Shares on such date will retain their Series 8R Shares, and holders of Series 9QR Shares who do not exercise their right to convert their Series 9QR Shares into Series 8R Shares on such date will retain their Series 9QR Shares.

  • CNW Group

    Sun Life Global Investments makes change to Sun Life MFS International Growth Fund and Sun Life MFS International Growth Class

    Sun Life Global Investments makes change to Sun Life MFS International Growth Fund and Sun Life MFS International Growth Class

  • SLC Management Successfully Raises $500M for TALF 2020 Strategy
    CNW Group

    SLC Management Successfully Raises $500M for TALF 2020 Strategy

    $168 bn asset manager announces the firm's strategy is already two-times oversubscribed. NEW YORK , May 18, 2020 /CNW/ - SLC Management, the $168 billion institutional asset management business of Sun ...

  • Should I Buy These 2 Ridiculously Cheap Financial Stocks?
    The Motley Fool

    Should I Buy These 2 Ridiculously Cheap Financial Stocks?

    Financial stocks like Manulife Financial Corp. (TSX:MFC)(NYSE:MFC) have been trounced in the recent downturn. Unlike tech stocks, they have not come back from the pounding. Is it time to load up on these high-yielding stocks?The post Should I Buy These 2 Ridiculously Cheap Financial Stocks? appeared first on The Motley Fool Canada.

  • Business Wire

    AM Best Assigns Issue Credit Rating to Sun Life Financial Inc.’s Subordinated Debentures

    AM Best has assigned a Long-Term Issue Credit Rating of "a-" to the CAD 1.0 billion 2.58% fixed-to-floating rate Series 2020-1 subordinated debentures due May 10, 2032, recently issued by Sun Life Financial Inc. (SLF) (Ontario, Canada) [NYSE: SLF]. The outlook assigned to this Credit Rating (rating) is stable.

  • Canada Inc. Reports a Cloudy Outlook, and Stocks Still Rise
    Bloomberg

    Canada Inc. Reports a Cloudy Outlook, and Stocks Still Rise

    (Bloomberg) -- After weeks of wondering how corporate Canada fared in the early days of the Covid-19 pandemic, investors finally got a proper look under the hood.Senior executives spoke about the impact. Some described the future as too hard to predict. Others tried to identify parallels and differences with the financial crisis.By withdrawing their 2020 forecasts, many Canadian companies have expressed their lack of confidence about when the economy will reopen and how consumers will behave when it does. Profit expectations have slumped to levels unseen in four years, according to data compiled by Bloomberg.Even so, stocks continued to rally. The S&P/TSX Composite Index rose every day last week and has gone up seven weeks in a row, its longest winning streak in 14 months.With more than 65% of companies in the index having reported quarterly results over the past three weeks, here’s a look at some of the numbers and the future state.A is for AirlinesAir Canada was the single best performing company in the index for the decade that ended Dec. 31, 2019. Now it has one of the bleakest outlooks. The airline expects the impact of the virus to last for at least three years and predicted large job cuts as it hunkers down to survive “the darkest period ever” for the industry. Air Canada is down 65% this year.It declined to give an update on its planned purchase of smaller rival Transat A.T. Inc. until its gets regulatory approval. But the market has a view: Transat shares ended the week at C$8.30, far below the C$18 takeover price.One company’s sorrow is another’s hope. With fewer commercial airplanes carrying cargo and more consumers shopping online, Cargojet Inc. experienced a surge in volumes for all of its segments. First quarter adjusted Ebitda jumped about 25% to C$40.2 million ($28.9 million) and revenues went up 11% to C$123 million. Its shares are up 35% this year.Good as GoldGold miners enjoyed a nice lift last quarter as investors sought a safe haven in the precious metal.Agnico Eagle Mines Ltd. Chief Executive Officer Sean Boyd wants to direct much of the cash flow windfall to shareholders, even as the industry faces temporary production cutbacks due to the spread of the coronavirus. Amid the suspension of mine operations at most sites, Boyd noted, “In my 35 years, this is the busiest seven or eight weeks I’ve ever had.”Prices rallied 6.9% in April (after a 3% surge last quarter), trading as high as $1,747.36 per ounce. Investors like gold as a hedge against negative bond yields.The world’s second-largest gold miner said the coronavirus outbreak has had little impact on its output. Barrick Gold Corp. CEO Mark Bristow said it was able to stockpile inventories of consumables and managed to shift orders for some key goods from country to country as the virus spread. “Our supply chains are fully open,” Bristow said in a May 6 interview with Bloomberg.From T-Shirts to MasksLike many companies around the globe, Gildan Activewear Inc. pivoted to making hard-to-find personal protective equipment and is now considering making the temporary business permanent.Gildan, which makes T-shirts, underwear and other basic garments, said April 8 it would start producing non-medical face masks and isolation gowns at its idle Honduras factories after getting hit hard by the virus crisis. First-quarter sales dropped 26% and Gildan predicted a “significant earnings loss” for the current quarter.Online Shopping SurgesShopify Inc. had a blowout first quarter, with revenues that topped analyst estimates as it helped bring more businesses online. That briefly made the company the most valuable firm on the Canadian stock market, moving past Royal Bank of Canada on Wednesday.Then the software company announced a share sale to raise $1.3 billion to strengthen its balance sheet and fund growth. That cooled off the stock, which fell 4.4% over Thursday and Friday. The company also announced a partnership with Pinterest, with merchants able to tap into 350 million Pinterest users.Read more: As Shopify Passes RBC, Canada Market Curse Gets Put to TestRetail giant Canadian Tire Corp. reported a net loss in the first quarter as comparable store sales at Canadian Tire outlets grew a mere 0.7% and revenue at its SportChek banner declined. It withdrew its three-year financial “aspirations” forecast due to the uncertainty and severity of the health crisis.The venerable Canadian retailer did get on the e-commerce bandwagon with digital sales rising 44% in the three months.Future DealsAs we wait to hear from Canada’s Big Six banks, which make up about 19% of the TSX Composite, insurers have already started to report.Sun Life Financial Inc. had a 7.4% increase in underlying earnings that topped analysts’ estimates. Still, it saw its biggest drop in net income since 2017, with a 37% decline that CEO Dean Connor attributed to market declines brought on by the pandemic.One silver lining: Connor expects more takeover opportunities to arise because of the coronavirus pandemic. Sun Life will use extra stress-test criteria to evaluate any potential takeovers, beyond what it would have used during normal times, he said.Manulife Financial Corp. CEO Roy Gori sees a tougher road ahead. The insurer posted its biggest drop in earnings in more than seven years and the second quarter “will be perhaps more challenging than even Q1, and the operating and macroeconomic environments are obviously incredibly challenging and difficult to predict,” Gori said in an interview.On REITs and RentsSkipped rents and deferrals have taken a toll on Canada’s real estate sector.RioCan Real Estate Investment Trust is freezing new and early stage projects to cut costs during the coronavirus pandemic as more tenants failed to pay their April rent. The Toronto-based REIT said it collected 55% of its rent during the month. The company expects 28% to still be received and has agreed to deferrals for 17% of its tenants. RioCan withdrew its guidance last month.Oil GloomCanadian energy companies are in cash-preservation mode, announcing plans to cut as much as C$11.4 billion in capital spending, with Suncor Energy Inc. and Canadian Natural Resources Ltd. each disclosing their second rounds of reductions last week.Canadian Natural surprised the market by maintaining its quarterly dividend of 42.5 Canadian cents a share after Suncor slashed its payout by 55%.Here’s one bright spot: Pipeline giant Enbridge Inc.’s results were well received by analysts as the company reaffirmed its 2020 guidance for distributable cash flow. Enbridge also elected to cut jobs, lower executive pay and defer some capital spending.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • CNW Group

    Social isolation is taking a toll on Canadians' mental health

    TORONTO , May 11, 2020 /CNW/ - Millions of Canadians haven't left their homes in weeks. In a recent survey of Canadians conducted by Sun Life, 56% said COVID-19 is having a negative impact on their mental health, with social isolation the top contributing factor. Interestingly, the Sun Life survey reveals COVID-19 is having a greater negative impact on the mental health of women (62%) compared to men (49%).

  • CNW Group

    Sun Life President and Chief Executive Officer, Dean Connor, participates in virtual fireside chat with TD Securities

    TORONTO , May 8, 2020 /CNW/ - Dean Connor, President and Chief Executive Officer of Sun Life, joined Mario Mendonca from TD Securities Inc. for a virtual fireside chat to discuss Sun Life's first quarter ...

  • CNW Group

    Sun Life completes offering of Subordinated Unsecured Debentures

    Sun Life completes offering of Subordinated Unsecured Debentures

  • Sun Life Financial Inc (SLF) Q1 2020 Earnings Call Transcript
    Motley Fool

    Sun Life Financial Inc (SLF) Q1 2020 Earnings Call Transcript

    SLF earnings call for the period ending March 31, 2020.

  • Thomson Reuters StreetEvents

    Edited Transcript of SLF.TO earnings conference call or presentation 6-May-20 2:00pm GMT

    Q1 2020 Sun Life Financial Inc Earnings Call

  • CNW Group

    Sun Life announces offering of Subordinated Unsecured Debentures

    TORONTO , May 6, 2020 /CNW/ - Sun Life Financial Inc. (SLF) (SLF) (the "Company") announced today that it intends to issue in Canada $1 billion principal amount of Series 2020-1 Subordinated Unsecured 2.58% Fixed/Floating Debentures due 2032 (the "Debentures"). The net proceeds will be used for general corporate purposes of the Company, which may include investments in subsidiaries and repayment of indebtedness. Details of the offering will be set out in a pricing supplement that the Company intends to issue pursuant to its short form base shelf prospectus and its prospectus supplement, each dated March 28, 2019 , all of which are or will be available on the SEDAR website for Sun Life Financial Inc. at www.sedar.com. The Debentures will be sold on a best efforts agency basis by a syndicate led by RBC Capital Markets, BMO Capital Markets and TD Securities, as co-leads.

  • Sun Life seeing interest in insurance even as revenues dip during pandemic: CEO
    The Canadian Press

    Sun Life seeing interest in insurance even as revenues dip during pandemic: CEO

    TORONTO — COVID-19 has delivered a rough quarter to Sun Life Financial Inc., but its top executive is confident the insurer will bounce back as demand for virtual care and increased coverage grows.The Toronto-based insurer said this week that market declines triggered by the pandemic caused its net income to plunge by 37 per cent to $391 million in its first quarter. Sun Life earned 67 cents per share for the three months ended March 31, down from $1.04 per share or $623 million a year earlier.Even as revenues were dropping, customers were looking to beef up coverage in areas like short-term disability, critical illness or virtual care — a move Sun Life president and CEO Dean Connor doesn't believe will slow down."We have seen in the past, after major crises like the Spanish flu and World War II, and we're starting to see it here: people's interest in insurance goes up," he told The Canadian Press."They're more focused on insurance and they have reason to think about it more and that drives more sales."His remarks came as the pandemic has pushed Sun Life — and every other insurer — to quickly adapt to a population with very different demands.As some companies have mulled bankruptcy, layoffs and pay cuts, extended coverage and virtual care is on the minds of more Canadians.Choices in those areas are not being made slowly anymore."Every business has found a whole new gear, including Sun Life, a gear we didn't know we had. We see our clients making decisions at lightning speed," Connor said.His business has been impacted because with Canadians asked to physically distance and stay home as much as possible, doctors offered virtual appointments and patients put off seeking care for non-emergency ailments. Dentists, chiropractors, physiotherapists and other medical professionals closed their offices.Sun Life responded by doling out payment grace periods and offering credits against dental and non-drug-related extended health care premiums in hopes of reducing invoices for Canadian businesses, who are already struggling with low cash flow.It offered 50 per cent credit per month against paid dental premiums and a 20 per cent credit for non-drug-related, extended health care premiums.Sun Life also delved into mixing technology and coverage with its Lumino Health Virtual Care offering, a partnership with Montreal-based Dialogue Technologies and a referral network the company runs with Akira, EQ Care and Maple."A lot of these tools we had already built out before the crisis, but the crisis has forced everyone to accelerate the adoption of these tools, so I think that's another benefit or silver lining to this cloud," Connor said.COVID-19 had a mixed impact on the company. Individual insurance and wealth sales in April totalled about 80 per cent and 90 per cent of the prior year, and were aided by re-pricing strategies and virtual health-care programs that Sun Life said have been popular.Sun Life's underlying earnings grew by seven per cent in the quarter to $770 million or $1.31 per share. That compared with $717 million or $1.20 per share in the first quarter of 2019.Sun Life's shares gained $3.02 or 6.7 per cent at $47.81 in late afternoon trading on the Toronto Stock Exchange.But there were "significant" declines too. Second quarter sales are uncertain because of strict quarantine protocols impacting face-to-face sales and the inability to predict when offices will be allowed to reopen and the economy to rebound."Realistically, this will be a challenging year for financial institutions and there will likely be reductions to sales, premiums and assets under management levels, credit impacts," Connor said. on the earnings call.For now, the company is focused aiding the 95 per cent of employees still working from home — a transition that was speedy because it was aided by 1,200 laptop computers Connor has said the company had stowed away "for a rainy day."Meanwhile, in Asia, it is helping workers in China and Vietnam return to offices on a gradual basis.Those uncomfortable about heading back to traditional offices will be allowed to continue to work from home.Those who return will be rotating what days of the week they can visit the office, so workers can physically distance, Connor said. There will also be increased sanitization of shared surfaces, escalators and door handles that will give workers the confidence to feel safe in the office.Connor will have an eye on the return to offices in Asia because of the lessons it can provide for Canada and beyond."We are watching closely, we're benefiting, we're learning," he said.This report by The Canadian Press was first published May 6, 2020.Companies in this story: (TSX:SLF)Tara Deschamps, The Canadian Press

  • CNW Group

    Sun Life announces election of directors

    Sun Life announces election of directors

  • Sun Life Financial (SLF) Q1 Earnings Top Estimates, Rise Y/Y
    Zacks

    Sun Life Financial (SLF) Q1 Earnings Top Estimates, Rise Y/Y

    Sun Life (SLF) Q1 results reflect higher investing activity in Canada and the United States, business growth, higher new business gains and improved credit experience.

  • Sun Life net income falls by 37 per cent, but beats expectations in Q1
    The Canadian Press

    Sun Life net income falls by 37 per cent, but beats expectations in Q1

    TORONTO — Sun Life Financial Inc. beat analyst expectations even as its net income plunged by 37 per cent to $391 million in the first quarter. The Toronto-based insurer says it earned 67 cents per share for the three months ended March 31, down from $1.04 per share or $623 million a year earlier.Sun Life says its underlying earnings grew by seven per cent to $770 million or $1.31 per share.That compared with $717 million or $1.20 per share in the first quarter of 2019.The insurance company was expected to earn $1.12 per share in adjusted profits, according to the financial markets data firm Refinitiv.Sun Life revealed the earnings after markets closed after its stock fell by 4.25 per cent to $44.79. This report by The Canadian Press was first published May 5, 2020.Companies in this story: (TSX:SLF)The Canadian Press