Sun Life Financial Inc
SLF: XTSE (CAN)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
CAD 43.00 | Ywww | Plbymnk |
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.