SLF FY2024 EPS Estimate Raised by National Bank Financial

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Stock analysts at National Bank Financial upped their FY2024 earnings per share (EPS) estimates for Sun Life Financial in a research report issued on Monday, November 4th. National Bank Financial analyst G. Dechaine now expects that the financial services provider will post earnings of $4.86 per share for the year, up from their previous estimate of $4.80. The consensus estimate for Sun Life Financial’s current full-year earnings is $4.87 per share. National Bank Financial also issued estimates for Sun Life Financial’s Q4 2024 earnings at $1.30 EPS and FY2025 earnings at $5.41 EPS.

Several other equities research analysts have also issued reports on the company. StockNews.com raised Sun Life Financial from a “hold” rating to a “buy” rating in a research note on Wednesday. Barclays initiated coverage on Sun Life Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating for the company.

Sun Life Financial Stock Performance

NYSE SLF opened at $59.24 on Thursday. Sun Life Financial has a 52-week low of $46.41 and a 52-week high of $59.81. The company has a fifty day moving average of $56.82 and a 200-day moving average of $52.59. The company has a market capitalization of $37.33 billion, a P/E ratio of 13.19, a P/E/G ratio of 1.51 and a beta of 1.01.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Monday, August 12th. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.07. The business had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.72 billion. Sun Life Financial had a net margin of 7.32% and a return on equity of 17.44%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co grew its position in Sun Life Financial by 3.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 630,708 shares of the financial services provider’s stock worth $34,474,000 after acquiring an additional 23,235 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Sun Life Financial by 108.3% in the first quarter. Cetera Investment Advisers now owns 64,240 shares of the financial services provider’s stock worth $3,506,000 after purchasing an additional 33,401 shares during the last quarter. Twin Tree Management LP increased its stake in shares of Sun Life Financial by 249.8% in the first quarter. Twin Tree Management LP now owns 274,119 shares of the financial services provider’s stock worth $14,961,000 after buying an additional 195,745 shares during the period. Forsta AP Fonden raised its holdings in Sun Life Financial by 6.5% during the 1st quarter. Forsta AP Fonden now owns 301,700 shares of the financial services provider’s stock valued at $16,478,000 after buying an additional 18,500 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in Sun Life Financial by 845.9% during the 1st quarter. Bessemer Group Inc. now owns 20,478 shares of the financial services provider’s stock valued at $1,117,000 after buying an additional 18,313 shares during the last quarter. Hedge funds and other 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. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.621 per share. This represents a $2.48 annualized dividend and a yield of 4.19%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 27th. Sun Life Financial’s dividend payout ratio is presently 52.34%.

About Sun Life Financial

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.