Free Research Report as Sun Life Reported Results for Q4 FY17 and Full Year FY17
Stock Monitor: Hallmark Financial Services Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 22, 2018 / Active-Investors.com has just released a free earnings report on Sun Life Financial Inc. (NYSE: SLF) ("Sun Life"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=SLF. The Company posted its financial results on February 14, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). The Company's total revenues and underlying net income per diluted share grew y-o-y. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Sun Life Financial most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
During Q4 FY17, Sun Life reported total revenues of C$8.65 billion, rising from C$2.37 billion in Q4 FY16. The Company's net premiums were C$4.08 billion during the reported quarter compared to C$4.42 billion in the year ago same quarter. The Company posted a net investment income of C$3.05 billion in Q4 FY17 versus a net investment loss of C$3.50 billion in Q4 FY16. Meanwhile, the Company's fee income grew to C$1.52 billion in Q4 FY17 from C$1.44 billion in Q4 FY16.
The insurance and financial services Company reported a net income of C$207 million, or C$0.34 per diluted share, in Q4 FY17 compared to C$728 million, or C$1.18 per diluted share, in Q4 FY16. The Company's underlying net income was C$641 million, or C$1.05 per diluted share, in Q4 FY17, up from C$560 million, or C$0.91 per diluted share, in Q4 FY16.
For the full year FY17, the Toronto, Ontario-based Company's total revenues stood at C$29.33 billion, which came in above C$28.57 billion in FY16. The Company posted a net income of C$2.15 billion, or C$3.49 per diluted share, in FY17 versus C$2.49 billion, or C$4.03 per diluted share, a year ago. Additionally, the Company's underlying net income stood at C$2.55 billion, or C$4.15 per diluted share, in FY17, rising from C$2.34 billion, or C$3.80 per diluted share, in FY16.
Operating Metrics
For the three months ended December 31, 2017, Sun Life's benefits and expenses were C$8.47 billion compared to C$1.34 billion in Q4 FY16. The Company's income before income taxes came in at C$180 million in Q4 FY17 versus C$1.03 billion in the year ago comparable quarter.
Furthermore, Sun Life's total insurance sales were C$1.11 billion in Q4 FY17 compared to C$1.07 billion in the prior year's corresponding quarter. The Company's total wealth sales, excluding SLF Asset Management, were C$6.79 billion in Q4 FY17 compared to C$7.79 billion in the year ago same quarter. SLF Asset Management sales were C$28.51 billion in Q4 FY17 versus C$29.46 billion in Q4 FY16. As at December 31, 2017, the Company's MCCSR ratio was 246% compared to 253% as at December 31, 2016.
Business Group Performance
During the reported quarter, SLF Canada business group's insurance sales fell to C$227 million from C$308 million in the year ago comparable period. The business group's wealth sales were C$3.18 billion in Q4 FY17 compared to C$4.70 billion in Q4 FY16. Furthermore, its underlying net income came in at C$232 million in Q4 FY17 compared to C$243 million in Q4 FY16.
SLF US business group generated insurance sales of C$676 million in Q4 FY17, which were 22% higher than the C$555 million recorded in Q4 FY16. Moreover, the business group's underlying net income was C$126 million in Q4 FY17 compared to C$87 million in Q4 FY16.
In Q4 FY17, SLF Asset Management business group's wealth sales were C$28.51 billion compared to C$29.46 billion in Q4 FY16. The business group's underlying net income was C$226 million in Q4 FY17 versus C$188 million in Q4 FY16.
SLF Asia business group's insurance sales were C$203 million in Q4 FY17 compared to C$208 million in Q4 FY16. The business group's wealth sales increased to C$3.60 billion in Q4 FY17 from C$3.09 billion in the last year's same quarter. Additionally, the business group's underlying net income were C$80 million in Q4 FY17 compared to C$62 million in Q4 FY16.
Balance Sheet
The Company had a cash, cash equivalents, and short-term securities balance of C$8.89 billion as on December 31, 2017, compared to C$8.64 billion at the close of books on December 31, 2016.
Dividend
In a separate press release on February 14, 2018, Sun Life's Board of Directors announced a dividend of C$0.455 per common share, payable March 29, 2018, to shareholders of record at the close of business on March 01, 2018.
Stock Performance Snapshot
March 21, 2018 - At Wednesday's closing bell, Sun Life Financial's stock climbed 1.61%, ending the trading session at $42.92.
Volume traded for the day: 643.40 thousand shares, which was above the 3-month average volume of 543.73 thousand shares.
Stock performance in the last month – up 0.94%; previous three-month period – up 5.33%; past twelve-month period – up 19.59%; and year-to-date – up 4.02%
After yesterday's close, Sun Life Financial's market cap was at $26.24 billion.
Price to Earnings (P/E) ratio was at 16.11.
The stock has a dividend yield of 3.31%.
The stock is part of the Financial sector, categorized under the Property & Casualty Insurance industry.
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