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Highlights
- Sun Life’s underlying net income in Q3 2022 was C$ 949 million.
- Manulife’s YTD net income was C$ 5,403 million in Q3 2022.
- Manulife’s Q3 2022 core EBITDA was noted at C$ 504 million.
Since the start of this year, Canada has witnessed a rise in interest rates to curb high inflation. Historically, rate hikes have benefited the profitability of banks and insurance services companies and in this article we are analysis the financial performances of two insurance companies.
As an investor, it is crucial to check the overall value of the company along with past and present stock performance. Apart from the financials, make sure to check other relevant aspects too.
Here are two financial stocks along with their recent financial performances:
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Sun Life Financial Inc. (TSX:SLF)
Sun Life Financial Inc. is a life insurance firm that provides wealth management, insurance, and retirement services. The company caters to corporate and individual customers in the US and Canada. Additionally, the company owns MFS Investment Management.
In Q3 2022, Sun Life’s underlying net income rose to C$ 949 million from C$ 902 million in Q3 2021. The company distributed a quarterly dividend of C$ 0.72 per share with an EPS of C$ 5.44.
On September 1, 2022, Sun Life stated its intention of acquiring a majority stake in Advisors Asset Management, Inc.
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Manulife Financial Corporation (TSX:MFC)
Manulife Financial Corporation provides wealth management and life insurance products and services. It operates in the US, Canada, and Asia.
Manulife’s YTD (year-to-date) net income was reported at C$ 5,403 million. In Q3 2022, the net income of the company grew to C$ 1,347 million from C$ 1,086 million in the previous quarter of the same year.
The core EBITDA also increased to C$ 504 million from C$ 467 million for the same comparative period. The company reported the past five-year dividend growth at 4.46 per cent and paid a quarterly dividend per share of C$ 0.33.
Market cap of SLF & MFC:
Bottom Line
With several uncertainties in the market, an investor must operate with a 360-degree view and research. Diversify your portfolio and stabilize it with a long-term approach. The combination of these two factors may help you to select the stocks that are in sync with your investment goals.
Please note, the above content constitutes a very preliminary observation based on the industry and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.
