Desjardins Weighs in on Sun Life Financial Inc.'s Q3 2024 Earnings (NYSE:SLF)

Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF - Equities researchers at Desjardins boosted their Q3 2024 EPS estimates for shares of Sun Life Financial in a note issued to investors on Wednesday, October 9th. Desjardins analyst D. Young now expects that the financial services provider will post earnings of $1.27 per share for the quarter, up from their previous forecast of $1.24. The consensus estimate for Sun Life Financial's current full-year earnings is $4.86 per share. Desjardins also issued estimates for Sun Life Financial's FY2024 earnings at $4.94 EPS and FY2026 earnings at $5.88 EPS.

Separately, Barclays began coverage on shares of Sun Life Financial in a report on Thursday, September 5th. They set an "equal weight" rating for the company.

Sun Life Financial Trading Down 0.0 %

SLF stock traded down $0.02 during mid-day trading on Friday, hitting $57.22. 243,429 shares of the company were exchanged, compared to its average volume of 677,262. The company has a market capitalization of $33.03 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 1.47 and a beta of 1.00. Sun Life Financial has a twelve month low of $44.57 and a twelve month high of $58.51. The firm has a fifty day simple moving average of $54.37 and a 200 day simple moving average of $51.93.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its quarterly earnings data on Monday, August 12th. The financial services provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. The company 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 8.60% and a return on equity of 17.47%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Verdence Capital Advisors LLC grew its position in Sun Life Financial by 1.8% in the 2nd quarter. Verdence Capital Advisors LLC now owns 12,160 shares of the financial services provider's stock worth $596,000 after purchasing an additional 219 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Sun Life Financial by 2.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 10,302 shares of the financial services provider's stock worth $562,000 after purchasing an additional 221 shares during the last quarter. Burney Co. grew its position in Sun Life Financial by 0.3% in the 1st quarter. Burney Co. now owns 89,252 shares of the financial services provider's stock worth $4,871,000 after purchasing an additional 238 shares during the last quarter. Claret Asset Management Corp lifted its stake in shares of Sun Life Financial by 3.4% in the 1st quarter. Claret Asset Management Corp now owns 8,334 shares of the financial services provider's stock worth $455,000 after acquiring an additional 272 shares during the period. Finally, PDS Planning Inc lifted its stake in shares of Sun Life Financial by 6.2% in the 1st quarter. PDS Planning Inc now owns 5,245 shares of the financial services provider's stock worth $286,000 after acquiring an additional 308 shares during the period. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Wednesday, August 28th were issued a $0.587 dividend. This represents a $2.35 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend was Wednesday, August 28th. Sun Life Financial's dividend payout ratio (DPR) is presently 60.57%.

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.