SUN LIFE FINANCIAL $31.38 (Toronto symbol SLF; Shares outstanding: 603.0 million; Market cap: $18.9 billion; SI Rating: Above Average; Dividend yield: 4.6%; www.sunlife.ca) sells savings, retirement, pension and life insurance products to individuals and corporations.
The company mainly operates in Canada, the U.S. and the U.K., but has expanded into Asia, China and India. It has $570.7 billion of assets under management.
In the three months ended March 31, 2013, Sun Life’s earnings per share rose 1.4%, to $0.75 from $0.74. Revenue rose 3.1%, to $3.4 billion from $3.3 billion.
The company expects to soon complete the sale of its riskier and money-losing U.S. annuity business. These annuities guarantee minimum long-term returns even if markets fall. Sun Life also plans to continue its successful expansion into higher-profit Asian markets.
Sun Life trades at 13.6 times its latest 12-month earnings, and yields a high 4.6%.
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