Sun Life Financial (SLF)
Combines insurance, benefits and wealth distribution with MFS and SLC asset management.
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Sells insurance, health benefits, wealth and retirement products across Canada, the United States and Asia, while MFS and SLC Management provide active and alternative asset management. Insurance revenue is concentrated in Canada and the United States, while asset management supplies most fund-management fees.
Provides individual insurance, group health and protection, wealth and retirement products through Canada, the United States and Asia. The U.S. operation emphasizes employee benefits, medical stop-loss and dental coverage, while Asian businesses use owned operations, joint ventures and bancassurance relationships.
MFS manages active public-market strategies, and SLC Management serves institutions across traditional and alternative assets. Acquisitions have progressively shifted the mix toward employee health, benefits and fee-generating asset management.
Insurance results depend on mortality, morbidity, lapse behavior, credit conditions and regulated capital. Asset-management results depend on market levels, client flows and distribution relationships, with competition spanning insurers, banks, passive products, global managers and digital entrants.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 3, 2026 | Argus Research | Reiterate | Rating: —Target: $81 | Target: $88 |
| Jun 10, 2026 | Argus Research | Target | Target: — | Target: $81 |
| Nov 10, 2025 | RBC Capital | Downgrade | ||
| Oct 7, 2025 | Morgan Stanley | Target | Target: — | Target: $89 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $21.04B · Total debt $6.47B · Total assets $301.77B · Shareholders' equity $18.84B
- Revenue
- $9.88B
- Operating income
- $963.5M
- Net income
- $767.7M
Reported in CAD, converted at the latest exchange rate
HistoryDividendAnnual yield
| Institutions | 376.58% | 2.28B ADS | |
|---|---|---|---|
| 515 holders · as of Jun 30, 2026 | |||
| Adds to | 376.58% | ||
606.00M ADS as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (606.00M in the company's Sep 23, 2026 report, 554.08M elsewhere); stakes use the report.
These groups come from separate filings that can overlap, so they add to 376.58%; nothing is left for Other.
This company has 9 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Royal Bank of CanadaInstitution | 61.71% | 41.55M ADS · 41.55M ADS · 41.55M ADS · 41.55M ADS · 41.55M ADS · 41.55M ADS · 41.55M ADS · 41.55M ADS · 41.55M ADS | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 23.83% | 16.05M ADS · 16.05M ADS · 16.05M ADS · 16.05M ADS · 16.05M ADS · 16.05M ADS · 16.05M ADS · 16.05M ADS · 16.05M ADS | as of Jun 30, 2026 |
Bank of Montreal /Can/Institution | 18.17% | 12.23M ADS · 12.23M ADS · 12.23M ADS · 12.23M ADS · 12.23M ADS · 12.23M ADS · 12.23M ADS · 12.23M ADS · 12.23M ADS | as of Jun 30, 2026 |
TD Asset Management IncInstitution | 15.00% | 10.10M ADS · 10.10M ADS · 10.10M ADS · 10.10M ADS · 10.10M ADS · 10.10M ADS · 10.10M ADS · 10.10M ADS · 10.10M ADS | as of Jun 30, 2026 |
CIBC World Market Inc.Institution | 11.99% | 8.08M ADS · 8.08M ADS · 8.08M ADS · 8.08M ADS · 8.08M ADS · 8.08M ADS · 8.08M ADS · 8.08M ADS · 8.08M ADS | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
- Manulife Financial
Broad overlap across Canadian insurance, Asia, wealth, and asset management
- MetLife
Major rival in U.S. employer benefits, dental, and institutional solutions
- Prudential (ADR)
Asia-focused rival in life, health, savings, and asset management
- BlackRock
Global competitor across active strategies and private-market mandates
- Principal Financial Group
Overlap in U.S. group benefits, retirement, and asset management
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Sun Life Financial | $80.78 | +0.09% | $44.72B | 19.3 | 19.2 | 1.4 | −84.6% |
| Manulife Financial | $44.24 | +0.16% | $73.71B | 16.9 | 13.9 | 1.8 | +22.6% |
| MetLife | $96.90 | +1.02% | $61.72B | 18.4 | 9.2 | 0.8 | +10.0% |
| Prudential (ADR) | $25.39 | −1.80% | $32.16B | 9.1 | — | 1.1 | +19.4% |
| BlackRock | $1,065.75 | −0.09% | $165.33B | 25.5 | 17.9 | 6.1 | +30.6% |
| Principal Financial Group | $114.42 | +0.73% | $24.32B | 16.2 | 11.5 | 1.5 | +8.9% |
| Median | 16.9 | 12.7 | 1.5 | +19.4% |