Sun Life Financial Inc. (TSE:SLF - Free Report) NYSE: SLF - Analysts at Desjardins boosted their FY2024 earnings estimates for Sun Life Financial in a research note issued on Tuesday, November 5th. Desjardins analyst D. Young now forecasts that the financial services provider will post earnings of $6.75 per share for the year, up from their previous forecast of $6.68. The consensus estimate for Sun Life Financial's current full-year earnings is $6.92 per share. Desjardins also issued estimates for Sun Life Financial's Q4 2024 earnings at $1.78 EPS.
Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF last posted its quarterly earnings data on Monday, August 12th. The financial services provider reported C$1.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of C$1.58 by C$0.13. The company had revenue of C$8.92 billion during the quarter, compared to the consensus estimate of C$9.18 billion. Sun Life Financial had a net margin of 9.90% and a return on equity of 13.65%.
A number of other brokerages have also recently weighed in on SLF. Barclays raised their price objective on Sun Life Financial from C$76.00 to C$79.00 in a report on Tuesday. Royal Bank of Canada boosted their price objective on shares of Sun Life Financial from C$78.00 to C$82.00 in a report on Wednesday. Scotiabank increased their target price on shares of Sun Life Financial from C$73.00 to C$85.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Evercore lowered their price target on shares of Sun Life Financial from C$76.00 to C$75.00 in a research note on Thursday, July 11th. Finally, TD Securities upped their price target on shares of Sun Life Financial from C$77.00 to C$81.00 in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sun Life Financial currently has an average rating of "Moderate Buy" and a consensus target price of C$81.36.
Read Our Latest Stock Report on SLF
Sun Life Financial Price Performance
SLF stock traded up C$0.55 during mid-day trading on Thursday, hitting C$82.63. 1,479,197 shares of the stock were exchanged, compared to its average volume of 2,038,733. The business has a fifty day moving average price of C$77.10 and a 200 day moving average price of C$71.66. Sun Life Financial has a 12 month low of C$64.38 and a 12 month high of C$82.86. The company has a debt-to-equity ratio of 53.77, a current ratio of 65.29 and a quick ratio of 84,866.00. The stock has a market capitalization of C$47.64 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 1.33 and a beta of 0.94.
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 dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend is Wednesday, November 27th. This is an increase from Sun Life Financial's previous quarterly dividend of $0.81. Sun Life Financial's payout ratio is currently 61.36%.
Insider Activity at Sun Life Financial
In other news, Director Stephanie Coyles bought 500 shares of the firm's stock in a transaction dated Thursday, August 15th. The stock was purchased at an average price of C$70.00 per share, with a total value of C$35,000.00. Following the transaction, the director now owns 500 shares of the company's stock, valued at approximately C$35,000. In related news, Senior Officer Linda Dougherty sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of C$75.30, for a total value of C$150,590.00. Also, Director Stephanie Coyles acquired 500 shares of Sun Life Financial stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average cost of C$70.00 per share, with a total value of C$35,000.00. Following the transaction, the director now owns 500 shares in the company, valued at C$35,000. 0.03% of the stock is owned by corporate insiders.
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.
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