Research Analysts Set Expectations for SLF FY2024 Earnings

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Investment analysts at Cormark raised their FY2024 earnings per share (EPS) estimates for shares of Sun Life Financial in a report issued on Tuesday, November 5th. Cormark analyst L. Persaud now expects that the financial services provider will post earnings of $4.87 per share for the year, up from their prior forecast of $4.82. The consensus estimate for Sun Life Financial’s current full-year earnings is $4.86 per share. Cormark also issued estimates for Sun Life Financial’s FY2025 earnings at $5.40 EPS.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Monday, August 12th. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Sun Life Financial had a net margin of 7.32% and a return on equity of 17.68%. The business had revenue of $6.52 billion for the quarter, compared to analysts’ expectations of $6.72 billion.

SLF has been the subject of a number of other research reports. StockNews.com upgraded Sun Life Financial from a “hold” rating to a “buy” rating in a research note on Wednesday. Barclays assumed coverage on shares of Sun Life Financial in a research note on Thursday, September 5th. They set an “equal weight” rating on the stock.

Sun Life Financial Price Performance

Shares of SLF stock opened at $58.90 on Thursday. Sun Life Financial has a 1-year low of $46.41 and a 1-year high of $59.03. The business has a 50-day moving average of $56.62 and a 200 day moving average of $52.48. The stock has a market capitalization of $37.11 billion, a PE ratio of 13.12, a P/E/G ratio of 1.43 and a beta of 1.01.

Hedge Funds Weigh In On Sun Life Financial

A number of large investors have recently bought and sold shares of SLF. Vanguard Group Inc. lifted its holdings in Sun Life Financial by 1.6% during the first quarter. Vanguard Group Inc. now owns 23,241,910 shares of the financial services provider’s stock valued at $1,268,543,000 after purchasing an additional 359,028 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Sun Life Financial by 2.8% in the 1st quarter. TD Asset Management Inc now owns 16,107,748 shares of the financial services provider’s stock valued at $879,751,000 after buying an additional 442,197 shares during the period. Mackenzie Financial Corp boosted its holdings in Sun Life Financial by 2.9% in the second quarter. Mackenzie Financial Corp now owns 14,703,533 shares of the financial services provider’s stock valued at $721,042,000 after purchasing an additional 407,913 shares during the period. 1832 Asset Management L.P. increased its position in shares of Sun Life Financial by 5.1% during the second quarter. 1832 Asset Management L.P. now owns 10,216,206 shares of the financial services provider’s stock worth $500,492,000 after purchasing an additional 499,009 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Sun Life Financial by 13.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,601,980 shares of the financial services provider’s stock worth $421,167,000 after buying an additional 1,049,244 shares during the last quarter. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be issued a $0.621 dividend. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 27th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.22%. Sun Life Financial’s dividend payout ratio (DPR) is presently 52.34%.

Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.