|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||0.00 - 0.00|
|52 Week Range|
|Beta (5Y Monthly)||0.76|
|PE Ratio (TTM)||6.43|
|Earnings Date||Aug 15, 2022|
|Forward Dividend & Yield||0.50 (9.04%)|
|Ex-Dividend Date||Aug 25, 2022|
|1y Target Est||721.00|
The life insurance and savings firm said it is confident about its outlook for the rest of the year after cash generation increased by 8.9%.
TORONTO (Reuters) -Sun Life Financial shares jumped on Thursday after reporting a better-than-expected second-quarter profit and announcing the sale of its U.K. business as well as an asset management partnership with the buyer, Phoenix Group Holdings. Earlier on Thursday, Canada's second-largest life insurer agreed to sell its closed business in the United Kingdom to Phoenix for 248 million pounds ($301 million), and become its strategic asset management partner, managing about C$9 billion ($7 billion) of Sun Life UK's general account. Sun Life expects to get a "good chunk" of the $25 billion Phoenix plans to deploy in North American fixed income and alternative investments over the next five years, CEO Kevin Strain said on an analyst call on Thursday.
Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) announced today it has entered into an agreement to sell SLF of Canada UK Limited ("Sun Life UK") to Phoenix Group Holdings plc ("Phoenix Group") (LSE: PHNX). Headquartered in London, Phoenix Group is the UK's largest long-term savings and retirement business with more than 13 million customers and £310 billion of assets under administration.