Sun Life Financial Inc
SLF: XTSE (CAN)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
CAD 52.00 | Vpjm | Dhtptmdm |
Strong Insurance Results Help Offset Weakness in Sun Life’s Asset Management Unit
Sun Life reported a fairly healthy third quarter. Adjusted earnings of CAD 1.62 topped the FactSet consensus estimate of CAD 1.47 with underlying returns on equity of 15.5% virtually unchanged from the year-ago period. U.S. insurance earnings were strong while asset management profits declined amid falling market values. We will maintain our no-moat rating and fair value estimate of CAD 66 on Sun Life’s shares.