On the past weekend news was released that Sun Life Financial was looking for acquisition opportunities in wealth management businesses. Part of the reason of course is that these companies are not impacted by low-interest rates. Wealth management is one of the growing revenue sources for most banks and insurance companies. Sun Life wants to get into it in a bigger way.
Sun Life’s stock was decimated in the bear market and financial crisis of 08-09 and has yet to see its stock fully recover. In 2007 the stock was trading around the $54 to $55 valuation with a 34 cent quarterly dividend. Today, Sun Life’s dividend is unchanged at 36 cents. The last time their dividend was changed was back on May 16 2008 when the dividend was increased from 34 cents to 36 cents where it is today.
The company has made a number of acquisitions over the past few years to expand into the USA in wealth management after selling its US annuity and life insurance division off in 2012. Sun Life has agreed to buy Ryan Labs Inc. to assist in expanding its wealth management arm. The rest of this article is for FullyInformed Canada Members…
Sun Life Financial Stock (SLF) Trade Alert and Trade Ideas
This is the latest trade done in Sun Life Financial Stock.
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