Sun Life Financial Inc

SLF: XTSE (CAN)
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Morningstar Rating for Stocks Fair Value Economic Moat Capital Allocation
CAD 43.00YwwwPlbymnk

Mixed Quarter for Sun Life as Asset Management Strength Offsets Weak U.S. Insurance Results

Sun Life reported a decent quarter with underlying EPS of CAD 1.53 roughly consistent with the FactSet consensus expectation of CAD 1.52. Underlying income rose just 4% as strength in asset management was offset by weakness in the U.S. insurance. Overall there was little in the firm’s earnings release that would alter our long-term view of SunLife and we will maintain our no-moat rating and fair value estimate of CAD 70.

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