Sun Life Financial Inc. experienced a surge in its stock price, reaching an all-time high due to strong performance in its US segment, driven by gains in fee-income.
The stock rose by as much as 4.3% early Tuesday, peaking at C$80.82 shortly after the Toronto market opened. This is the highest price Sun Life shares have reached since they began trading in March 2000.
The company's third-quarter profit exceeded analysts' expectations, demonstrating the positive impact of its US operations on its overall financial performance. Investors responded positively to this news, indicating confidence in Sun Life's growth trajectory and profitability in a competitive market.