Sun Life Finl Stock Price, News & Analysis

Sun Life Financial Inc. (TSX: SLF) announced its intention to redeem $400 million of Series 2017-1 Subordinated Unsecured 2.75% Fixed/Floating Debentures. The redemption will occur on November 23, 2022, funded from existing cash and liquid assets. Holders of the debentures will receive the principal amount along with accrued interest up to the redemption date. Following the redemption, interest will stop accruing, and holders will only have the right to the redemption price.

Sun Life has awarded six community organizations with its 2022 Team Up Against Diabetes grants to enhance health services, particularly for underserved populations. Over $32 million has been contributed since the program's inception in 2016. The grants support diverse initiatives, including nutritional education, diabetes prevention, and management services, reaching over 1,600 individuals across various states. Sun Life aims to improve health equity by funding these community-based programs that address the growing diabetes epidemic.

Sun Life Financial (TSX: SLF) announced plans to acquire a 51% stake in Advisors Asset Management (AAM) for US$214 million, enhancing its retail distribution in the U.S. This acquisition will allow AAM to market SLC Management's alternative investment products to the U.S. retail market. AAM currently manages approximately $41.4 billion in assets, with a growing demand for alternatives among high-net-worth investors. Sun Life will invest up to US$400 million to develop these products. The transaction is expected to close in the first half of 2023.

Kevin Strain, President and CEO of Sun Life, will participate in a fireside chat at the Scotiabank Financials Summit on September 8, 2022, at 1:30 p.m. ET. He will be joined by Meny Grauman from Scotiabank. The event aims to discuss key insights into the financial services sector. A live webcast can be accessed through sunlife.com/scotiabankconference. As of June 30, 2022, Sun Life had total assets under management of $1.26 trillion and operates in several global markets.

Sun Life Financial Inc. (TSX: SLF, NYSE: SLF) has announced the sale of its UK subsidiary, Sun Life UK, to Phoenix Group Holdings plc for £248 million (approximately C$385 million). This move aligns with Sun Life's strategy of focusing on fee-based businesses while retaining an economic interest in its UK payout annuities. The transaction, expected to close in the first half of 2023, includes a long-term asset management partnership where Sun Life's MFS and SLC Management will manage about C$9 billion of Sun Life UK's assets, supporting its growth initiatives.

On August 3, 2022, Sun Life Financial Inc. (TSX: SLF) announced a quarterly dividend of $0.69 per common share, consistent with the previous quarter. The dividend will be payable on September 29, 2022 for shareholders on record by August 24, 2022. Additionally, dividends for Class A Non-Cumulative Preferred Shares were declared, with amounts ranging from $0.114063 to $0.28125 per share, also payable on September 29, 2022. All dividends are designated as eligible for Canadian tax purposes.

Sun Life Financial Inc. (SLF) reported its Q2 2022 financial results, announcing a net income of $785 million, a 13% decline from Q2 2021. However, underlying net income slightly increased by 1% to $892 million. Key metrics include reported EPS of $1.34 and underlying EPS of $1.52. The quarter showcased strong growth in insurance and wealth sales, with total insurance sales reaching $736 million, up 4% year-over-year. The acquisition of DentaQuest bolsters SLF's presence in the U.S. health market, now serving over 50 million Americans.