Volatile Finance stock to watch: Sun Life Financial Inc (NYSE: SLF)

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Sun Life Financial Inc (NYSE: SLF) stock lost over 0.2% in the pre-market session of Feb 13th, 2020 (Source: Google finance) after the company’s fourth quarter of FY 19. U.S. Group Benefits sales were US$616 million in the fourth quarter of 2019, which is a decrease of 4% compared to the same period in 2018, due to lower large case employee benefits sales. Asia insurance sales were $361 million, which is an increase of 44% in the fourth quarter of 2019 compared to the same period in 2018.

The company has completed the acquisition of a majority stake in BentallGreenOak and intends to acquire a majority stake in InfraRed Capital Partners, which will broaden SLC Management’s suite of alternative investment solutions within global real estate and infrastructure equity markets. Further, the company continues to make steady progress on distribution in Asia with two new bancassurance agreements in Vietnam and Indonesia, and now have mobile apps in all seven of the local markets. The company has reported net income of $719 million in the fourth quarter of 2019, which represents an increase of 24% compared to the same period in 2018.

Furthermore, the company has completed the major milestones of the integration of the employee benefits business acquired in 2016, which includes reaching the full target of US$100 million in pre-tax run-rate synergies on schedule. The company has also surpassed 10,000 employees on the Sun Life + Maxwell Health platform, which was launched earlier in 2019.

SLF in the fourth quarter of FY 19 has reported the adjusted earnings per share of $1.02, while the adjusted revenue growth of 19 percent to $6.46 billion (C$10.04 billion) in the fourth quarter of FY 19. Additionally, the company has declared the dividend of $0.55 per share on the common shares, which will be payable March 31, 2020 to shareholders of record at the close of business on March 1, 2020. Moreover, Canada insurance sales were $228 million in the fourth quarter of 2019, which is an increase of 4% compared to the same period in 2018, due to increased individual life insurance sales. Canada wealth sales were $5.9 billion in the fourth quarter of 2019, which is an increase of 21% compared to the same period in 2018, due to Group Retirement Services (“GRS”) from large case sales and Individual Wealth.

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