Ultime notizie per Sun Life Financial (NYSE:SLF) Azioni

Sun Life Financial

Sun Life provides life insurance, retirement, and asset management products to individuals and corporate customers in Canada, the United States, and Asia. The company's investment management business contributes approximately 30% of its adjusted earnings and has around CAD 1 trillion in assets under management as of the fourth quarter of 2023. The Canada business contributes about 35% of adjusted earnings and provides individual life and health insurance, group insurance, retirement services, and wealth management solutions. The U.S. business contributed approximately 22% of earnings and is mainly focused on providing group insurance products and managing the in-force life insurance policies. Finally, the Asia segment contributes around 13% of earnings.

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Scopri i cinque titoli chiave da seguire nel pre-market di oggi, 12 agosto 2024, con focus su risultati e previsioni.

Pre-market: 5 titoli da monitorare oggi, 12 agosto 2024

Sun Life Financial Inc

FUTURE MOBILITY SOL ORD by Future Mobility Solutions Ltd.

Future Mobility Solutions Ltd

SUN LIFE FNCL PFD A SER 4 by Sun Life Financial Inc.

abrdn PLC

SUN LFE FNCL PFD A SR 9QR by Sun Life Financial Inc.

RBC Capital analyst Darko Mihelic maintains Sun Life Financial (TSX:<a class="ticker" href="https://www.benzinga.com/stock/SLF#TSX">SLF</a>) with a Outperform and raises the price target from C$78 to C$82.

Price Target

Analyst Ratings

TSX:SLF

RBC Capital Maintains Outperform on Sun Life Financial, Raises Price Target to C$82

It is payable December 31, 2024 to shareholders of record at the close of business on November 27, 2024.

Dividends

Sun Life Financial Increases Common Share Dividend By 3% To C$0.84 Per Share

Sun Life Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLF#NYSE">SLF</a>) reported quarterly earnings of C$1.76 per share which beat the analyst consensus estimate of C$1.70 by 3.53 percent.

Earnings

Earnings Beats

Sun Life Financial Q3 2024 Adj EPS C$1.76 Beats C$1.70 Estimate

Shares of Manulife Financial Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mfc#NYSE">MFC</a>) closed at $28.87 on Thursday, near its 52-week high of $28.89. A strong-performing Asia business, expanding Wealth and Asset Management business and a solid capital position are driving the stock price higher.
The company is one of the three dominant life insurers within its domestic Canadian market and possesses rapidly growing operations in the United States and several Asian countries. Earnings grew 4.9% in the last five years, better than the industry average of 4.6%.
Shares have rallied 30.6% year to date, outperforming the industry&#39;s increase of 19%, the Finance sector&#39;s increase of 13.7% and the S&amp;P 500 composite&#39;s rise of 17.7%.
<h2>MFC Outperforms Industry, Sector, S&amp;P 500 YTD</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/d1/78668.jpg?v=2085214265" />
Image Source: Zacks Investment Research
MFC shares are trading well above the 50-day moving average, indicating a bullish trend.
<h2>MFC&#39;s Return on Equity</h2>
Manulife&#39;s return on equity (ROE) for the trailing 12 months is 16.2%, better than the industry average of 15.5%. This reflects Manulife&#39;s efficiency in utilizing shareholders&#39; funds. It expects to generate a ROE of more than 18% by 2027.
<h2>Optimistic Growth Outlook</h2>
The Zacks Consensus Estimate for 2024 and 2025 earnings per share is pegged at $2.72 and $2.86, respectively, suggesting an increase of 5.8% and 5.2% year over year. The long-term earnings growth rate is currently pegged at 10%. Manulife expects core EPS growth of 10-12% over the medium term.&nbsp;
<h2>Factors Favoring MFC</h2>
Manulife&#39;s Asia business continues to be a major contributor to earnings. Asia has been the fastest-growing insurance segment, supported by strong volume growth and attractive margins. This market appears attractive, given its changing demographics. MFC now expects core earnings from Asia to contribute 50% to overall earnings by 2027.
As part of its strategic priorities, Manulife is also investing in high ROE and growth segments in North America.&nbsp; The company&#39;s highest potential businesses, including operations in Asia, Global WAM, Canada group benefits and behavioral insurance products, currently contribute two-thirds to core earnings. The insurer now looks to increase it to 75% and thus is expediting growth in these highest potential businesses.
In tandem with the wave of digitalization going on, MFC is digitalizing and automating workflows through GenAI and advanced analytics.&nbsp; Accelerated digitalization should help it achieve an expense efficiency ratio of less than 45% in the medium term.
Manulife has been strengthening its balance sheet by improving liquidity and leverage. It targets a leverage ratio of 25%. Notably, its free cash flow conversion has remained more than 100% over the last many quarters, reflecting its solid earnings.
The life insurer, banking on consistent cash flow, hiked dividends at a six-year CAGR of 10% and targets a 35-45% dividend payout over the medium term.
<h2>Concerns Regarding MFC</h2>
Despite the upside potential, there are a few factors that investors should keep an eye on.
Manulife targeted an expense efficiency ratio of less than 50% or $1 billion in cost savings and avoidance.&nbsp; It is on track to deliver an efficiency ratio of less than 45% in the future. However, its net margin has been contracting over the last six quarters.
Manulife draws a substantial portion of its earnings from the international market, which makes its profitability vulnerable to foreign exchange losses. In an attempt to lower its forex exposure, the company has started incurring hedging costs.
Though the leverage has been gradually improving, times interest earned has been declining.
The return on invested capital in the trailing 12 months was 0.66%, comparing unfavorably with the industry average of 0.68%, reflecting the insurer&#39;s inefficiency in utilizing funds to generate income.
<h2>MFC Shares Expensive&nbsp;</h2>
MFC shares are trading at a price-to-earnings multiple of 10.23, higher than the industry average of 8.40.
Shares of other insurers like Sun Life Financial&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/slf#NYSE">SLF</a>) and Aflac Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/afl#NYSE">AFL</a>) are trading at a multiple higher than the industry average.
<h2>Parting Thoughts</h2>
MFC&#39;s focus on building a high-growth, high-return and high cash generation company, wealth distribution to shareholders and ROE expansion instills confidence in this Zacks Rank #3 (Hold) insurer.
However, given the stock&#39;s premium valuation, it will be wise for new investors to wait for a better entry point.
Investors who already hold MFC stock should retain it, given its growth prospects.
<a href="https://www.zacks.com/stock/news/2339314/mfc-stock-near-52-week-high-should-you-buy-or-wait-for-a-pullback?cid=CS-BENZ-FT-analyst_blog|rank_focused-2339314">To read this article on Zacks.com click here.</a>

Asia

Large Cap

MFC Stock Near 52-Week High: Should You Buy or Wait for a Pullback?

Sun Life Financial (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/slf#NYSE">SLF</a>) has been benefiting from its focus on Asia operations, growing asset management businesses and the scale-up and integration of U.S. operations. Earnings of SLF have risen 5.4% over the last five years.
This third-largest insurer in Canada has a decent earnings surprise history. It surpassed estimates in three of the last four quarters and missed in one, the average earnings surprise being 1.76%.
Sun Life&#39;s focus on the emerging economies of Asia that are expected to provide higher returns and the North American markets bodes well for long-term growth. SLF has a strong presence in China, Philippines, India, Hong Kong and Indonesia and has also forayed into Malaysia and Vietnam. Contribution from Asia business to Sun Life&#39;s earnings has increased to 21% over the last few years.
Sun Life envisions being one of the top five players and remains focused on growing its voluntary benefits business. The life insurer is also improving its business mix and is thus shifting its growth focus toward products that block lower capital and offer more predictable earnings.
Sun Life Investment Management makes investments in private fixed-income mortgages and real estate. It invests in pension plans and other institutional investors. These are indicative of SLF&#39;s efforts to strengthen Asset Management, which provides a higher return on equity, requires lower capital and sees lesser volatility and has the potential for an earnings upside.
Operational efficiency has been aiding Sun Life in building a strong capital position. The life insurer&#39;s capital outlay includes a 40-50% dividend payout over the medium term.
However, expenses have increased at Sun Life over the past few years due to high employee expenses, premises and equipment, service fees, amortization of intangible assets and other expenses. These, in turn, weigh on margin expansion. The life insurer remains committed toward balancing both metrics, failing which, the bottom line might suffer. The company estimates integration activities to drive run-rate cost savings of $60 million by 2024.
Nonetheless, SLF&#39;s trailing 12-month return on equity was 17.5%, ahead of the industry average of 15.5%. Return on equity, a profitability measure, reflects how effectively a company is utilizing its shareholders&#39; funds. Given the company&#39;s ongoing shift to fee-based capital-light businesses, SLF reiterated its medium-term ROE target of 18%.
Also, the return on invested capital in the trailing 12 months was 0.8%, better than the industry average of 0.7%. This reflects SLF&#39;s efficiency in utilizing funds to generate income.&nbsp;
<h3>Some Key Industry Players</h3>
Other players in the insurance industry are Brighthouse Financial (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bhf#NASDAQ">BHF</a>), Reinsurance Group of America, Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rga#NYSE">RGA</a>) and Primerica (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pri#NYSE">PRI</a>).
Brighthouse Financial&#39;s earnings surpassed estimates in three of the last four quarters and missed in one, the average surprise being 3.76%.
With an expansive and compelling suite of life and annuity products and a strong market presence, BHF aims to become a premier player in the individual insurance market.&nbsp; Brighthouse is also revamping its life insurance business to boost annuity sales. Sales of Shield Level annuities and variable annuities with FlexChoice Access should drive Annuity sales.&nbsp; The insurer remains focused on transitioning the business mix to less capital-intensive products.
Reinsurance Group&#39;s earnings surpassed estimates in each of the last four quarters, the average surprise being 20.51%.
RGA has been benefiting from an increase in new business volumes, favorable longevity experience, a stronger invested asset base, business expansion in the pension risk transfer market and effective capital deployment.
Primerica&#39;s earnings surpassed estimates in three of the last four quarters and missed in one, the average surprise being 1.74%.
This second-largest issuer of term-life insurance coverage in North America aims to be a successful senior health business while continuing to enhance its shareholders&#39; value. Strong demand for protection products drives sales growth and policy persistency benefit the life insurer. A strong business model makes Primerica well-poised to cater to the middle market&#39;s increased demand for financial security.
<a href="https://www.zacks.com/stock/news/2322684/sun-life-slf-grows-on-solid-asia-business-amid-cost-woes?cid=CS-BENZ-FT-analyst_blog|zer_report_update-2322684">To read this article on Zacks.com click here.</a>

Mid Cap

Management

Brighthouse Financial, Inc. - Common Stock

Sun Life Grows on Solid Asia Business Amid Cost Woes

RBC Capital analyst Darko Mihelic maintains Sun Life Financial (TSX:<a class="ticker" href="https://www.benzinga.com/stock/SLF#TSX">SLF</a>) with a Outperform and raises the price target from C$76 to C$78.

RBC Capital Maintains Outperform on Sun Life Financial, Raises Price Target to C$78

Shares of Sun Life Financial Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLF#NYSE">SLF</a>) were climbing higher on Tuesday, after experiencing volatility ahead of the company's <a href="https://www.benzinga.com/news/earnings/24/08/40306547/dow-settles-higher-but-records-weekly-loss-greed-index-remains-in-extreme-fear-zone">second-quarter earnings</a>.
The results came amid an <a href="https://www.benzinga.com/earnings">exciting earnings season</a>. Here are some key analyst takeaways.
RBC Capital Markets On Sun Life Financial
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58c6ab8cb85e9300015f1ada/darko-mihelic">Analyst Darko Mihelic</a> maintained an Outperform rating and price target of C$76.
Sun Life Financial's second-quarter underlying earnings came in at $1.72 per share, above consensus of $1.58 per share, &#8220;primarily reflecting strength in SLF Canada followed by SLF U.S. and Asia to a lesser extent,&#8221; Mihelic said in a note.
The SLF Canada segment's underlying earnings were significantly higher than expected and grew both sequentially and year-on-year, the analyst stated. While the SLF U.S. segment's underlying earnings were up around 8% sequentially, they declined by about 5% year-on-year, with Medicaid/Medicare Advantage sales continuing to be pressured, he added.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
Scotiabank On Sun Life Financial
Analyst Meny Grauman reiterated a Sector Outperform rating and price target of C$73.
After reporting disappointing results for the first quarter, Sun Life Financial came back on track in the second quarter, Grauman said. Although the company's results were expected to improve sequentially, the bounce back was "larger than we had expected," he added.
Adjusted earnings grew 10% year-on-year and 15% quarter-on-quarter, "driven by higher fee income in Asset Management, Canada, and Asia, higher earnings in Individual Protection due to strong business growth in Asia and Canada and favourable mortality experience, and lower expenses reflecting lower performance-based compensation and financing costs," the analyst stated. 
There was a sequential improvement in underlying earnings in the US segment, "despite the continued headwinds from Medicaid redeterminations in the dental business and normalizing utilization in the stop-loss business," he added.
SLF Price Action: Shares of Sun Life Financial had risen by 5.06% to $50.43 at the time of publication on Tuesday.
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Photo: Shutterstock

Analyst Color

Earnings Misses

Reiteration

Movers

Sun Life Financial Analysts Highlight Strong Q2 Earnings, Driven By Canadian, Asian Growth

TD Securities analyst Mario Mendonca maintains Sun Life Financial (TSX:<a class="ticker" href="https://www.benzinga.com/stock/SLF#TSX">SLF</a>) with a Hold and lowers the price target from C$73 to C$72.

TD Securities Maintains Hold on Sun Life Financial, Lowers Price Target to C$72

Sun Life Financial Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/slf#NYSE">SLF</a>) delivered second-quarter 2024 underlying net income of $1.25 per share, which beat the Zacks Consensus Estimate by 5.9%. The bottom line increased 6.8% year over year. Underlying net income was $730.8 million (C$1 billion), which increased 9% year over year.
Results reflected continued solid growth in Canada and Asia. The U.S. also saw favorable experience in Group Benefits, partially offset by residual headwinds in dental.
Revenues of $6.5 billion increased 14.2% year over year but missed the Zacks Consensus Estimate by 3%.
Wealth sales &amp; asset management gross flows of $33.8 billion (C$46.3 billion) increased 9.1% year over year. Group - Health &amp; Protection sales of $362.5 million (C$496 million) decreased 17.7% year over year. Individual - Protection sales of $550.3 million (C$753 million) jumped 24.7% year over year.
New business contractual service margin was $319.4 million (C$437 million), up 61.9% year over year.
<div class="chart_embed">
<h3>Sun Life Financial Inc. Price, Consensus and EPS Surprise</h3>
<h3><img alt="Sun Life Financial Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/15/1723558499.png" style="height:265px; width:574px" title="" /></h3>
Sun Life Financial Inc. price-consensus-eps-surprise-chart | Sun Life Financial Inc. Quote
</div>
<h3>Segment Results</h3>
SLF Canada&#39;s underlying net income increased 8% year over year to $294 million (C$402 million). Canada witnessed solid results at Wealth &amp; Asset Management and Individual - Protection.
Wealth sales &amp; asset management gross flows of $3.6 billion ($5 billion) climbed 72% year over year. Group - Health &amp; Protection increased year over year but Individual - Protection sales declined.
SLF U.S.&#39; underlying net income was $149 million, which decreased 5% year over year, reflecting soft results at Individual &ndash; Protection and Group - Health &amp; Protection.
U.S. group sales of $243 million decreased 22%, reflecting lower Medicare and Medicaid sales in Dental due to large institutional sales in the prior year, partially offset by higher medical stop-loss sales.
SLF Asset Management reported underlying net income of $224.3 million (C$307 million), which increased 4% year over year, attributable to stable results in MFS. Asset Management exited the reported quarter with $0.8 trillion (C$1.072 trillion) of AUM, comprising $618 billion in MFS and $165.9 billion (C$227 billion) in SLC Management.
SLF Asia reported underlying net income of $130.8 million (C$179 million), which grew 19% year over year, driven by solid results at Wealth &amp; asset management and Individual - Protection.
Individual sales of $428 million (C$586 million) jumped 30% year over year. Wealth sales &amp; asset management gross flows of $1.5 billion ($2 billion) increased 24% year over year. New busines
New business CSM of $160.8 million (C$220 million) increased 86.4% year over year, primarily driven by sales in Hong Kong.
<h3>Financial Update &nbsp;</h3>
Global assets under management were $1.1 billion (C$1.465 trillion), up 7% year over year.
Sun Life Assurance&#39;s Life Insurance Capital Adequacy Test (LICAT) ratio was 142% as of Jun 30, 2024, up 300 basis points (bps) from Jun 30, 2023, level.
The LICAT ratio for Sun Life (including cash and other liquid assets) was 150%, which expanded 20 bps year over year.
Sun Life&#39;s return on equity was 11.7% in the second quarter of 2024, which contracted 100 bps year over year. The underlying return on equity of 18.1% expanded 40 bps year over year. The leverage ratio of 22.61% improved 70 bps from Jun 30, 2023, level.
<h3>Dividend Update</h3>
The company&#39;s board of directors approved a quarterly dividend of 81 cents per share. The amount will be paid out on Sep 27, 2024, to shareholders of record at the close of business on Aug 28.
<h3>Zacks Rank</h3>
Sun Life currently carries a Zacks Rank #4 (Sell).
<h3>Performance of Other Insurers</h3>
Voya Financial, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/voya#NYSE">VOYA</a>) reported second-quarter 2024 adjusted operating earnings of $2.27 per share, which beat the Zacks Consensus Estimate by 3.6%. The bottom line, however, decreased 1.7% year over year. Adjusted operating revenues amounted to $324 million, down 6.6% year over year. The top line missed the Zacks Consensus Estimate by 0.4%.
Net investment income declined 5% year over year to $518 million. Premiums totaled $790 million, up 16.7% from the year-ago quarter. As of Jun 30, 2024, VOYA&#39;s assets under management, assets under administration and advisement totaled $861.3 billion.
Reinsurance Group of America, Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rga#NYSE">RGA</a>) reported second-quarter 2024 adjusted operating earnings of $5.48 per share, which beat the Zacks Consensus Estimate by 10.9%. The bottom line increased 24.5% from the year-ago quarter. RGA&#39;s operating revenues of $5.1 billion improved 20.3% year over year, driven by higher net premiums, investment income, net of related expenses and other revenues. It beat the consensus estimate by 4.7%.
Net premiums of $3.9 billion jumped 17.5% year over year. RGA deployed $307 million for in-force transactions. Investment income and net of related expenses increased 26.3% from the prior-year quarter to $1.1 billion. The average investment yield increased 23 basis points to 4.65%, primarily due to higher new money rates.
Lincoln National Corporation&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lnc#NYSE">LNC</a>) second-quarter 2024 adjusted earnings of $1.84 per share beat the Zacks Consensus Estimate by 3.4%. However, the bottom line declined 8.9% year over year. Adjusted operating revenues of $4.5 billion dropped 4.3% year over year in the quarter under review. The top line lagged the consensus mark by 2.7%.
Fee income declined 1.9% year over year to $1.3 billion, which missed the Zacks Consensus Estimate by 2.1%. Insurance premiums of $1.6 billion rose 0.8% year over year. The metric beat the consensus mark by 0.7%. LNC&#39;s net investment income of $1.3 billion declined 11.7% year over year and missed the consensus mark by 1.7%. Meanwhile, other revenues fell 5.9% year over year.
<a href="https://www.zacks.com/stock/news/2321448/sun-life-slf-q2-earnings-beat-revenues-miss-estimates?cid=CS-BENZ-FT-analyst_blog|earnings_article-2321448">To read this article on Zacks.com click here.</a>

VOYA

Sun Life Q2 Earnings Beat, Revenues Miss Estimates

Sun Life Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLF#NYSE">SLF</a>) reported quarterly earnings of C$1.72 per share which beat the analyst consensus estimate of C$1.58 by 8.86 percent.

Sun Life Financial Q2 2024 Adj EPS C$1.72 Beats C$1.58 Estimate

The CNN Money Fear and Greed index remained in the &#8220;Extreme Fear&#8221; zone on Friday.
U.S. stocks settled higher on Friday, after recording sharp losses earlier during the week. However, major indices recorded losses last week, with the Dow and Nasdaq falling by 0.6% and 0.18%, respectively.
On Monday, the Dow dipped 1,000 points, while the S&amp;P 500 dipped around 3% to record its worst day since 2022.
On the economic data front, the total number of active U.S. oil rigs increased by three to 485 rigs this week, Baker Hughes Inc. reported.
Doximity, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOCS#NYSE">DOCS</a>) shares jumped 38.7% on Friday after the company reported better-than-expected first-quarter financial results. Additionally, the company issued FY24 revenue guidance above estimates. Shares of Iteris, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ITI#NASDAQ">ITI</a>) surged 63.6% after the company announced it would be acquired by Almaviva for $335 million.
Most sectors on the S&amp;P 500 closed on a positive note, with communication services, real estate, and information technology stocks recording the biggest gains on Friday. However, materials stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 51 points to 39,497.54 on Friday. The S&amp;P 500 rose 0.47% at 5,344.16, while the Nasdaq Composite jumped 0.51% at 16,745.30 during Friday's session.
Investors are awaiting earnings results from Monday.com Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDY#NASDAQ">MNDY</a>), Sun Life Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLF#NYSE">SLF</a>), and KE Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEKE#NASDAQ">BEKE</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 23.9, the index remained in the &#8220;Extreme Fear&#8221; zone on Friday, versus a prior reading of 24.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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DOCS

Dow Settles Higher But Records Weekly Loss: Greed Index Remains In 'Extreme Fear' Zone

With U.S. stock futures trading mixed this morning on Monday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Monday.com Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDY#NASDAQ">MNDY</a>) to report quarterly earnings at 56 cents per share on revenue of $228.77 million before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. monday.com shares rose 1% to $228.00 in after-hours trading.</li>
<li>Analysts are expecting Sun Life Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLF#NYSE">SLF</a>) to post quarterly earnings at $1.14 per share on revenue of $887.25 million. The company will release earnings after the markets close. Sun Life Financial shares gained 0.02% to $48.10 in after-hours trading.</li>
<li>BRT Apartments Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRT#NYSE">BRT</a>) reported second-quarter earnings of 35 cents per share which beat consensus estimates of 28 cents per share. The company reported quarterly sales of $23.86 million which beat the analyst consensus estimate of $23.60 million. BRT Apartments shares fell 1.9% to close at $17.55 on Friday.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Before the markets open, Fortrea Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTRE#NASDAQ">FTRE</a>) is projected to report quarterly earnings at 8 cents per share on revenue of $689.08 million. Fortrea shares fell 0.2% to $25.12 in after-hours trading.</li>
<li>Analysts expect KE Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEKE#NASDAQ">BEKE</a>) to post quarterly earnings at 21 cents per share on revenue of $3.06 billion before the opening bell. KE Holdings shares gained 0.4% to $14.09 in after-hours trading.</li>
</ul>
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Photo courtesy: Shutterstock

Monday.com, Sun Life Financial And 3 Stocks To Watch Heading Into Monday

Sun Life Financial Inc.&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/slf#NYSE">SLF</a>) strategic investments in Asia, strengthening asset management businesses, the scale-up of its U.S. operations and a strong financial position bode well for growth.
<h3>Growth Projections</h3>
The Zacks Consensus Estimate for Sun Life&#39;s 2024 earnings per share indicates an increase of 3.6% from the year-ago reported number. The consensus estimate for 2025 earnings per share and revenues indicates an increase of 8.9% and 4.9%, respectively, from the corresponding 2024 estimates.
<h3>Earnings Surprise History</h3>
Sun Life beat the Zacks Consensus Estimate for earnings in two of the last four quarters, met once and missed the other occasion, the average being 0.28%.
<h3>Zacks Rank &amp; Price Performance</h3>
Sun Life currently carries a Zacks Rank #3 (Hold). In the past year, the stock has lost 2.7% against the industry&#39;s growth of 21.3%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/8c/70884.jpg?v=1113843695" />
Image Source: Zacks Investment Research
<h3>Business Tailwinds</h3>
Sun Life continues to focus on the emerging economies of Asia that are expected to provide higher returns and growth than the North American markets. SLF has a strong presence in China, Philippines, India, Hong Kong and Indonesia and has also forayed into Malaysia and Vietnam, taking the count to seven markets in which it has a presence. Contribution to Sun Life&#39;s earnings has increased to 21% from 8% over the last few years.
The third largest insurer in Canada is improving its business mix and is thus shifting its growth focus toward products that block lower capital and offer more predictable earnings. Sun Life looks to be one of the top five players and remains focused on growing its voluntary benefits business.
In its effort to strengthen Asset Management, Sun Life Investment Management makes investments in private fixed-income, mortgages and real estate. It invests in pension plans and other institutional investors. Notably, Asset Management provides a higher return on equity, lower capital and volatility and has the potential for an earnings upside.
Operational efficiency has been aiding Sun Life in building a strong capital position. The life insurer&#39;s capital outlay includes a 40-50% dividend payout over the medium term. Also, given the company&#39;s ongoing shift to fee-based capital-light businesses, it reiterated its medium-term ROE target of 18%.
<h3>Headwinds</h3>
However, expense increase at Sun Life over the past few years averaged 11% due to high employee expenses, premises and equipment, service fees, amortization of intangible assets and other expenses. The life insurer remains committed toward balancing both metrics, failing which, the bottom line might suffer. The company estimates integration activities to drive run-rate cost savings of $60 million by 2024.
<h3>Stocks to Consider</h3>
Some better-ranked stocks from the insurance industry are Reinsurance Group of America, Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rga#NYSE">RGA</a>), Baldwin Insurance Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bwin#NASDAQ">BWIN</a>) and NMI Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nmih#NASDAQ">NMIH</a>), each carrying a Zacks Rank #2 (Buy) at present.
Reinsurance Group&#39;s earnings surpassed estimates in each of the last four quarters, the average surprise being 19.48%. Over the past year, shares of RGA have jumped 33.6%. The Zacks Consensus Estimate for RGA&#39;s 2024 and 2025 revenues implies year-over-year growth of 5.3% and 4.8%, respectively.
Baldwin Insurance&#39;s earnings surpassed estimates in three of the last four quarters and matched in one, the average surprise being 11.12%. Over the past year, shares of BWIN have jumped 33.6%. The Zacks Consensus Estimate for BWIN&#39;s 2024 and 2025 revenues implies year-over-year growth of 39.2% and 30.7%, respectively.
NMI Holdings&#39; earnings surpassed estimates in each of the last four quarters, the average surprise being 8.60%. Over the past year, shares of NMIH have jumped 33.6%. The Zacks Consensus Estimate for NMIH&#39;s 2024 and 2025 revenues implies year-over-year growth of 10.6% and 7.6%, respectively.
<a href="https://www.zacks.com/stock/news/2299108/reasons-why-investors-should-retain-sun-life-slf-stock-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2299108">To read this article on Zacks.com click here.</a>

BWIN

NMIH

Reasons Why Investors Should Retain Sun Life Stock Now

Sun Life U.S. has expanded its partnership with Goodpath to offer employer clients virtual whole-person care, a new employee benefit that provides care for physical conditions and mental health, including unlimited therapy sessions. Sun Life disability clients can proactively support their employees' mental and physical health, helping to reduce the need for absences or extended leave. As access to care issues persist around the country, Sun Life continues to expand its portfolio of health services, including mental health, to help people get the care and coverage they need.

Sun Life U.S. And Goodpath Expand Partnership To Offer Virtual Whole-Person Care Supporting Mental And Physical Health

WIIM

Sun Life shares are trading lower after the company reported Q1 financial results.

Sun Life Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLF#NYSE">SLF</a>) reported quarterly earnings of $1.11 per share which missed the analyst consensus estimate of $1.20 by 7.5 percent. This is a 1.25 percent decrease over earnings of $1.12 per share from the same period last year. The company reported $5.10 billion in sales this quarter. This is a 42.45 percent decrease over sales of $8.86 billion the same period last year.

Sun Life Financial Q1 Adj $1.11 Misses $1.20 Estimate, Sales $5.10B Down From $8.86B YoY

The Board of Directors (the &quot;Board&quot;) of Sun Life Financial Inc. (the &quot;Company&quot;) (TSX:<a class="ticker" href="https://www.benzinga.com/stock/SLF#TSX">SLF</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLF#NYSE">SLF</a>) today announced that a dividend of $0.81 per share on the common shares of the Company has been declared, payable June 28, 2024 to shareholders of record at the close of business on May 29, 2024. This represents a 3 cent increase to the amount paid in the previous quarter.

Sun Life Increases Common Share Dividend To C$0.81 Per Share

Sun Life Q1 Reported EPS C$1.40,

Reported Earlier, Sun Life And UKG Partner To Automate And Simplify Absence Management For Employers

Reinsurance Group of America, Incorporated&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rga#NYSE">RGA</a>) shares have rallied 43.3% in a year compared with the industry&#39;s growth of 30.7%. The Finance sector and the Zacks S&amp;P 500 index have gained 26.1% and 27.7% in the said time frame, respectively. With a market capitalization of $12.68 billion, the average volume of shares traded in the last three months was 0.3 million.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/75/63968.jpg?v=1019823867" /> 
Image Source: Zacks Investment Research
The rally was largely driven by new business volumes, favorable longevity experience, stronger invested asset base, business expansion in the pension risk transfer market and effective capital deployment. 
This Zacks Rank #3 (Hold) life insurer delivered a four-quarter average earnings surprise of 24.39%. 
Reinsurance Group has a VGM Score of B. The VGM Score helps identify stocks with the most attractive value, best growth and the most promising momentum.
<h3>Will the Bull Run Continue?</h3>
The Zacks Consensus Estimate for Reinsurance Group&#39;s 2025 earnings per share indicates a year-over-year increase of 8.8% from the consensus estimate of 2024. The consensus estimate for revenues is pegged at $20.04 billion, implying a year-over-year improvement of 5.5% from the consensus mark of 2024. 
The Zacks Consensus Estimate for 2024 and 2025 earnings has moved 0.4% and 0.2% north, respectively, in the past 30 days, reflecting analysts&#39; optimism on the stock. 
Its compelling product portfolio and operational expertise help Reinsurance Group maintain its leadership position in the United States, Latin America and Canada. 
Significant value embedded in the in-force business helps generate predictable long-term earnings. Product line expansion not only contributes to risk diversification and matured individual mortality but also provides a base for stable earnings and capital generation. 
Reinsurance Group&#39;s longevity insurance provides a source of diversified income and acts as a hedge to a large mortality position. Increasing demand for longevity insurance poises it well for long-term growth. 
Life insurers are direct beneficiaries of an improving interest rate environment. Though the Fed has stalled rate increases for some time, it has already made 11 hikes since 2022. 
A high-quality investment portfolio and the company&#39;s diversified business across asset classes, sectors, issuers and geography are positives. 
RGA&#39;s solid capital position with excess capital of around $1 billion offers sufficient financial flexibility and supports effective capital deployment. 
Reinsurance Group expects to remain active in deploying capital into attractive growth opportunities in organic flow and in-force block transactions and returning excess capital to shareholders through dividends and share repurchases. On Jan 23, 2024, the company&#39;s board authorized a share repurchase program for up to $500 million of RGA&#39;s outstanding common stock. 
ROE is a profitability metric that measures how effectively the company is utilizing its shareholders&#39; funds. In the fourth quarter of 2023, adjusted operating return on equity (excluding accumulated other comprehensive income) was 14.5%, which expanded 400 basis points year over year. This shows the company&#39;s relative efficiency in managing shareholders&#39; funds.
<h3>Stocks to Consider</h3>
Some better-ranked stocks from the life insurance industry are Manulife Financial Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mfc#NYSE">MFC</a>), Primerica, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pri#NYSE">PRI</a>) and Sun Life Financial Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/slf#NYSE">SLF</a>), each carrying a Zacks Rank #2 (Buy) at present. 
Manulife Financial delivered a four-quarter average earnings surprise of 7.01%. In the past year, MFC has gained 34.4%. 
The Zacks Consensus Estimate for MFC&#39;s 2024 and 2025 earnings implies year-over-year growth of 5.4% and 9.7%, respectively, from the consensus estimate of the corresponding years. 
Primerica beat earnings estimates in three of the last four quarters and missed in one, the average being 3.10%. In the past year, PRI has rallied 47.6%. 
The Zacks Consensus Estimate for PRI&#39;s 2024 and 2025 earnings implies year-over-year growth of 10.4% and 10%, respectively, from the consensus estimate of the corresponding years. 
Sun Life beat earnings estimates in three of the last four quarters and matched in one, the average being 3.32%. In the past year, SLF has gained 15.3%. 
The Zacks Consensus Estimate for SLF&#39;s 2024 and 2025 earnings implies year-over-year growth of 8% and 7.3%, respectively, from the consensus estimate of the corresponding years.
<a href="https://www.zacks.com/stock/news/2248161/reinsurance-group-rga-up-43-3-in-a-year-more-room-to-run?cid=CS-BENZ-FT-analyst_blog|price_surge_/_plunge-2248161">To read this article on Zacks.com click here.</a>

Reinsurance Group (RGA) Up 43.3% in a Year: More Room to Run?

Desjardins raised the firm's price target on Sun Life Financial (SLF) to C$85 from C$84 and keeps a Buy rating on the shares. Published first on Th...

Sun Life Financial price target raised to C$85 from C$84 at Desjardins

4% Dividend Yield Shines At Sun Life, While Growth Looks Bright (Ratings Upgrade)

Sun Life boosts medium-term target for underlying EPS growth

CIBC raised the firm's price target on Sun Life Financial (SLF) to C$96 from C$90 and keeps an Outperformer rating on the shares. Published first o...

Sun Life Financial price target raised to C$96 from C$90 at CIBC

Analysts have been eager to weigh in on the Financial sector with new ratings on Sun Life Financial (SLF – Research Report), Nu Holdings (NU – Rese...

Analysts Offer Insights on Financial Companies: Sun Life Financial (SLF), Nu Holdings (NU) and Swiss Re AG (OtherSSREF)

Evercore ISI raised the firm's price target on Sun Life Financial (SLF) to C$92 from C$77 and keeps an Outperform rating on the shares. The firm th...

Sun Life Financial price target raised to C$92 from C$77 at Evercore ISI

Barclays analyst Alex Scott raised the firm's price target on Sun Life Financial (SLF) to C$82 from C$79 and keeps an Equal Weight rating on the sh...

Sun Life Financial price target raised to C$82 from C$79 at Barclays

There's a lot to be optimistic about in the Financial sector as 3 analysts just weighed in on Alpha Bank AE (ALBKF – Research Report), Sun Life Fin...

Analysts Offer Insights on Financial Companies: Alpha Bank AE (OtherALBKF), Sun Life Financial (SLF) and Computershare Limited (OtherCMSQF)

BMO Capital raised the firm's price target on Sun Life Financial (SLF) to C$92 from C$88 and keeps an Outperform rating on the shares. The company'...

Sun Life Financial price target raised to C$92 from C$88 at BMO Capital

Scotiabank analyst Meny Grauman raised the firm's price target on Sun Life Financial (SLF) to C$96 from C$85 and keeps an Outperform rating on the ...

Sun Life Financial price target raised to C$96 from C$85 at Scotiabank

ALBKF

CMSQF

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Insurance

Press Releases

Sun Life U.S. expands specialty disability coverage to help healthcare organizations recruit and retain more providers

Sun Life U.S. named a Top Workplace for Remote Work by Monster.com

Fintech

A passion for purpose: Sun Life's Marie-Chantal Côté named among Canada's Top 100 Most Powerful Women

Sun Life Reports Third Quarter 2024 Results

Sun Life increases Common Share dividend and declares dividends on Preferred Shares payable in Q4 2024

Sun Life hosts Investor Day 2024 in Toronto

Contracts

On World Diabetes Day, Sun Life commits an additional $1.53 million towards the fight against diabetes

MEDIA ADVISORY - Sun Life and Tribal Wi-Chi-Way-Win Capital Corporation announce partnership to serve Canadians and create local jobs in Winnipeg

/R E P E A T -- MEDIA ADVISORY - Sun Life and Tribal Wi-Chi-Way-Win Capital Corporation announce partnership to serve Canadians and create local jobs in Winnipeg/

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