Sun Life Finl Stock Price, News & Analysis

Sun Life Financial (TSX: SLF) (NYSE: SLF) has received approval for early renewal of its normal course issuer bid (NCIB) from Canadian regulators. Under the 2025 NCIB, Sun Life can purchase up to 10,570,915 common shares between June 9, 2025, and May 21, 2026. This includes the remaining 570,915 shares from the 2024 NCIB plus an additional 10 million shares. The company has already purchased 14,429,085 shares at an average price of $81.49 under the 2024 NCIB. The total approved purchase amount is 25 million shares, representing 4.4% of outstanding shares. Daily purchases will be limited to 542,709 shares on TSX and 25% of average daily trading volume on NYSE. The buyback program includes an automatic repurchase plan through a designated broker.

Sun Life's 13th annual high-cost claims report reveals significant increases in healthcare expenses, with million-dollar stop-loss claims rising 29% this year and 61% over four years. Cancer remains the top cost driver, generating $1.2 billion in spending across 5,000 claims in 2024. Orthopedic/musculoskeletal conditions have surprisingly entered the top three categories, with $1.18 billion in total spend. The report analyzes over 65,000 health claims from 3,000 employers between 2021-2024. Notable findings include a 70% increase in congenital anomaly claim costs since 2021, with the highest claim reaching $12 million. In drug categories, uncategorized drugs, including gene therapies, have emerged as a significant cost driver, with two members receiving treatments totaling $6.8 million. Keytruda leads as the costliest cancer treatment at $84.4 million in spend.

Sun Life U.S. has appointed Dr. Todd Gray as Chief Dental Officer (CDO) for its Dental business, including DentaQuest. With over 20 years of dental leadership experience, Dr. Gray will lead clinical strategy, implement evidence-based improvements, oversee quality, and strengthen provider collaboration. His role focuses on enhancing person-centered care and prevention across Sun Life's dental operations, which serve approximately 35 million Americans. Dr. Gray's extensive background includes positions at Teledentistry.com, Liberty Dental Plan, and the State of Nevada. Sun Life U.S. Dental, incorporating DentaQuest, manages the largest Medicaid and CHIP dental benefits program in the U.S. and operates 75 dental practices in underserved communities.

Sun Life Financial announced dividend rates for its Class A Non-Cumulative Rate Reset Preferred Shares Series 8R and Class A Non-Cumulative Floating Rate Preferred Shares Series 9QR. For Series 8R Shares, the dividend rate will be 4.230% per annum ($0.264375 per share quarterly) for the period from June 30, 2025 to June 30, 2030. For Series 9QR Shares, the floating rate dividend will be 4.054% per annum ($0.255458 per share) for the period from June 30, 2025 to September 30, 2025. Shareholders wishing to convert their shares must communicate with their broker by 5:00 p.m. ET on June 16, 2025.

Sun Life Financial (TSX: SLF) (NYSE: SLF) has announced it will not redeem its Class A Non-Cumulative Rate Reset Preferred Shares Series 8R and Class A Non-Cumulative Floating Rate Preferred Shares Series 9QR on June 30, 2025. Instead, shareholders of both series will have the option to convert their shares on a one-for-one basis between the two series. The conversion right is subject to minimum holding conditions of one million shares for each series. If holdings fall below this threshold, automatic conversion will occur. New dividend rates for both series will be announced on May 30, 2025. Shareholders must exercise their conversion rights by 5:00 p.m. (ET) on June 16, 2025.

Sun Life Financial (TSX: SLF) (NYSE: SLF) announced the successful election of 12 directors at its annual meeting of common shareholders. All nominees listed in the March 14, 2025 management information circular were elected with strong shareholder support. Kevin D. Strain received the highest approval rate at 99.8%, while Helen M. Mallovy Hicks received the lowest but still strong approval at 97.3%. The voting results demonstrate overwhelming shareholder confidence in the proposed board members, with all directors receiving over 97% approval.

Sun Life Financial (TSX: SLF) (NYSE: SLF) has announced plans to renew its normal course issuer bid (NCIB), pending approval from OSFI and TSX. Under the current 2024 NCIB, the company has repurchased 13,018,997 of the authorized 15,000,000 common shares at an average price of $80.79 per share. Once the 2024 NCIB is completed, Sun Life plans to establish a new 2025 NCIB to purchase up to an additional 10,000,000 common shares. The company will seek TSX approval to purchase a total of 25,000,000 shares under the 2025 NCIB, representing approximately 4.1% of outstanding shares as of May 5, 2025. The purchases will be made through various trading platforms in Canada and the US at prevailing market rates.

Sun Life Financial (TSX: SLF) (NYSE: SLF) has announced an increase in its quarterly dividend payment. The company declared a dividend of $0.88 per common share, representing a 4 cent increase from the previous quarter. The dividend will be payable on June 30, 2025, to shareholders of record as of May 28, 2025.

Additionally, Sun Life declared dividends on several series of its Class A Non-Cumulative Preferred Shares, with payments ranging from $0.114063 to $0.312142 per share, also payable on June 30, 2025. Common shares acquired under the company's Canadian Dividend Reinvestment and Share Purchase Plan will be purchased on the open market through various Canadian trading platforms.

Sun Life Financial (TSX: SLF) (NYSE: SLF) reported strong Q1 2025 results with underlying net income of $1,045 million, up 19% from Q1 2024. The company's reported net income reached $928 million, a 13% increase year-over-year. Key highlights include: • Assets under management (AUM) grew 6% to $1,551 billion • Underlying ROE improved to 17.7% (from 16.0%) • Reported ROE increased to 15.7% (from 15.0%) • Common share dividend increased from $0.84 to $0.88 per share • Strong LICAT ratio of 149% Performance across segments showed robust growth: • Asset management & wealth: $487M (+19%) • Group - Health & Protection: $330M (+18%) • Individual - Protection: $325M (+20%) The company maintained strong capital position while advancing its Client Impact Strategy and strategic imperatives, with notable progress in digital tools, capital raising at SLC Management, and Asian market distribution.