Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF - Equities researchers at Cormark upped their FY2024 earnings per share estimates for shares of Sun Life Financial in a research report issued on Tuesday, November 5th. Cormark analyst L. Persaud now forecasts that the financial services provider will earn $4.87 per share for the year, up from their prior estimate 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 - Get Free Report) TSE: SLF last released its quarterly earnings results on Monday, August 12th. The financial services provider reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. The business had revenue of $6.52 billion during the quarter, compared to analysts' expectations of $6.72 billion. Sun Life Financial had a return on equity of 17.68% and a net margin of 7.32%.
A number of other equities analysts have also recently commented on SLF. StockNews.com upgraded Sun Life Financial from a "hold" rating to a "buy" rating in a report on Wednesday. Barclays initiated coverage on Sun Life Financial in a report on Thursday, September 5th. They set an "equal weight" rating for the company.
View Our Latest Stock Analysis on Sun Life Financial
Sun Life Financial Trading Up 1.2 %
Sun Life Financial stock traded up $0.73 during midday trading on Thursday, reaching $59.62. 1,450,773 shares of the stock traded hands, compared to its average volume of 660,518. The company has a 50-day simple moving average of $56.62 and a two-hundred day simple moving average of $52.48. Sun Life Financial has a 12-month low of $46.41 and a 12-month high of $59.81. The firm has a market cap of $37.57 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01.
Institutional Investors Weigh In On Sun Life Financial
A number of hedge funds have recently bought and sold shares of SLF. Natixis Advisors LLC raised its position in shares of Sun Life Financial by 13.3% during the 3rd quarter. Natixis Advisors LLC now owns 43,246 shares of the financial services provider's stock worth $2,509,000 after acquiring an additional 5,086 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Sun Life Financial by 1.3% during the 3rd quarter. CIBC Asset Management Inc now owns 6,488,668 shares of the financial services provider's stock worth $377,311,000 after acquiring an additional 81,261 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in shares of Sun Life Financial during the 3rd quarter worth about $101,000. Entropy Technologies LP acquired a new stake in shares of Sun Life Financial during the 3rd quarter worth about $788,000. Finally, Addison Advisors LLC raised its position in shares of Sun Life Financial by 124.9% during the 3rd quarter. Addison Advisors LLC now owns 650 shares of the financial services provider's stock worth $38,000 after acquiring an additional 361 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company's stock.
Sun Life Financial Increases Dividend
The business 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 $0.621 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $2.48 dividend on an annualized basis and a yield of 4.17%. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.59. Sun Life Financial's dividend payout ratio (DPR) is currently 52.34%.
About Sun Life Financial
(
Get Free Report)
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.
Featured Articles
Before you consider Sun Life Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sun Life Financial wasn't on the list.
While Sun Life Financial currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
