SLF

Zacks analysts recommend five low-beta, high-yielding stocks with Zacks Rank #2 (Buy) ratings as defensive plays amid market volatility in October 2026. The recommended stocks—Sun Life Financial, Coca-Cola, Altria, Keurig Dr Pepper, and MetLife—are positioned to weather concerns over AI sustainability, elevated crude oil prices, and persistent inflation.

Sun Life (SLF), a Toronto-based financial services company, is highlighted as an attractive dividend investment with a current yield of 3.55%, significantly higher than industry and S&P 500 averages. The company has demonstrated consistent dividend growth of 8.94% annually over the past 5 years and maintains a sustainable 50% payout ratio. With expected earnings growth of 7.69% in 2026 and a Zacks Rank of #2 (Buy), SLF presents a compelling opportunity for income investors seeking both dividend income and capital appreciation.

Sun Life Financial (SLF) has launched Health Navigator, combining disability insurance with personalized healthcare navigation services. The product aims to help employees access appropriate specialists and care coordination while reducing recovery times and medical costs.

SLF's U.S. sales surged 43% to $324 million in Q2 2026, driven by medical stop-loss growth. The offering positions SLF to cross-sell services and capture greater market share in employer benefits spending.

Manulife Financial (MFC) reported declining net inflows in its Global Wealth and Asset Management division, with Q2 2026 inflows falling to C$0.4 billion from C$0.9 billion year-over-year. While retail outflows narrowed and core earnings rose 9%, significant retirement net outflows of C$4.9 billion pose challenges. The stock trades at a premium valuation of 12.94x P/E versus the industry average of 10.53x, earning a Hold rating.