Sun Life Financial
Combines insurance, benefits and wealth distribution with MFS and SLC asset management.
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Profile
Sells insurance, health benefits, wealth and retirement products across Canada, the United States and Asia, while MFS and SLC Management provide active and alternative asset management. Insurance revenue is concentrated in Canada and the United States, while asset management supplies most fund-management fees.
Provides individual insurance, group health and protection, wealth and retirement products through Canada, the United States and Asia. The U.S. operation emphasizes employee benefits, medical stop-loss and dental coverage, while Asian businesses use owned operations, joint ventures and bancassurance relationships.
MFS manages active public-market strategies, and SLC Management serves institutions across traditional and alternative assets. Acquisitions have progressively shifted the mix toward employee health, benefits and fee-generating asset management.
Insurance results depend on mortality, morbidity, lapse behavior, credit conditions and regulated capital. Asset-management results depend on market levels, client flows and distribution relationships, with competition spanning insurers, banks, passive products, global managers and digital entrants.
Company facts
Key statistics
Year to date +25.4% · Average volume (30d) 740.3K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Target |
|---|---|---|---|---|---|
| Jun 10, 2026 | Argus Research | Target | $81 | ||
| Nov 10, 2025 | RBC Capital | Downgrade | Outperform | Sector Perform | |
| Oct 7, 2025 | Morgan Stanley | Target | $89 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $1.39 | $1.46 | +5.0% | $994.3M | $9.80B | +885.5% | −0.50% |
| May 6, 2026Q1 FY26 | $1.35 | $1.38 | +2.2% | $926.0M | $6.37B | +587.6% | −4.91% |
| Feb 11, 2026Q4 FY25 | $1.35 | $1.41 | +4.4% | $973.5M | $820.0M | −15.8% | +5.93% |
| Nov 5, 2025Q3 FY25 | $1.30 | $1.35 | +3.8% | $944.5M | $8.89B | +841.2% | −4.18% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $8.16B | $6.62B | $8.92B | $6.42B | $6.33B | $10.02B | |
| Gross profit | $1.05B | $794.9M | $1.14B | $6.42B | $2.55B | $1.07B | |
| Operating income | $898.5M | $702.1M | $1.04B | $809.3M | $602.1M | $976.9M | |
| Net income | $720.1M | $559.6M | $843.8M | $570.0M | $386.6M | $778.3M | |
| Diluted EPS | $1.17 | $0.91 | $1.42 | $0.93 | $0.59 | $1.30 | |
| Gross margin | 12.9% | 12.0% | 12.7% | 100.0% | 40.2% | 10.7% | |
| Operating margin | 11.0% | 10.6% | 11.7% | 12.6% | 9.5% | 9.8% |
Fiscal years (4-quarter sums)FY21 $25.67B · FY22 $5.88B · FY23 $28.49B · FY24 $24.81B · FY25 $30.11B
Revenue by product · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $21.34B · Total debt $6.56B · Total assets $305.96B · Shareholders' equity $19.11B
Dividends
Raised for 4 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 26, 2026 | Aug 26 | Sep 29 | $0.6918 | cut from $0.6941 |
| May 27, 2026 | May 27 | Jun 30 | $0.6941 | raised from $0.6724 |
| Feb 25, 2026 | Feb 25 | Mar 31 | $0.6724 | raised from $0.6545 |
| Nov 26, 2025 | Nov 26 | Dec 31 | $0.6545 | raised from $0.6365 |
| Aug 27, 2025 | Aug 27 | Sep 29 | $0.6365 | raised from $0.6324 |
| May 28, 2025 | May 28 | Jun 30 | $0.6324 | raised from $0.5854 |
| Feb 26, 2025 | Feb 26 | Mar 31 | $0.5854 | cut from $0.5988 |
| Nov 27, 2024 | Nov 27 | Dec 31 | $0.5988 | cut from $0.6017 |
Ownership
Shares outstanding 554.08M · Float 552.44M · 99.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 42.19M | 7.30% | 13G | Feb 5, 2025 |
| Royal Bank of Canada | 41.55M | 7.50% | 13F | Aug 14, 2026 |
| Vanguard Capital Management LLC | 16.05M | 2.90% | 13F | Aug 13, 2026 |
| Bank of Montreal /Can/ | 12.23M | 2.21% | 13F | Aug 12, 2026 |
| TD Asset Management Inc | 10.10M | 1.82% | 13F | Aug 4, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Manulife Financial
Broad overlap across Canadian insurance, Asia, wealth, and asset management
- MetLife
Major rival in U.S. employer benefits, dental, and institutional solutions
- Prudential (ADR)
Asia-focused rival in life, health, savings, and asset management
- BlackRock
Global competitor across active strategies and private-market mandates
- Principal Financial Group
Overlap in U.S. group benefits, retirement, and asset management
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Sun Life Financial | $79.09 | +0.39% | $43.64B | 18.6 | 18.4 | 1.5 | +57.7% |
| Manulife Financial | $42.70 | −0.20% | $71.36B | 16.2 | 13.1 | 1.7 | +22.6% |
| MetLife | $97.91 | +1.46% | $62.10B | 18.5 | 9.2 | 0.8 | +10.0% |
| Prudential (ADR) | $27.65 | +0.04% | $34.40B | 9.5 | — | 1.1 | — |
| BlackRock | $1,163.84 | −0.03% | $180.49B | 27.8 | 19.5 | 6.6 | +30.6% |
| Principal Financial Group | $111.41 | 0.00% | $23.85B | 15.8 | 11.2 | 1.5 | +8.8% |
| Median | 16.2 | 12.1 | 1.5 | +16.3% |