Sun Life Financial is a financial services company with locations around the world. Their primary business is insurance, as well as offering other protection and wealth accumulation products such as mutual funds, seg funds and pension accounts. Like other insurance companies, they have underperformed the market in the period since the 2008 crash. However, the current environment appears to be supportive of this type of company, and SunLife has handily outpaced the market over the past year.
The company pays an attractive dividend and is benefitting as bond yields rise. They have good momentum, although because of the recent growth, some professional managers see more potential in the banks. Earnings are expected to continue to grow, and there is a chance that the dividend could be increased.
I like the positive momentum, and SLF has just joined the top five in my momentum calculator. VRX is still rising rapidly and MG isn’t too far behind. MFC is another insurer that is also in my top five.