Desjardins Forecasts Higher Earnings for Sun Life Financial

Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF - Investment analysts at Desjardins lifted their Q4 2024 earnings estimates for shares of Sun Life Financial in a note issued to investors on Tuesday, November 5th. Desjardins analyst D. Young now forecasts that the financial services provider will earn $1.28 per share for the quarter, up from their prior forecast of $1.27. The consensus estimate for Sun Life Financial's current full-year earnings is $4.86 per share.

Other equities analysts have also recently issued reports about the company. StockNews.com upgraded Sun Life Financial from a "hold" rating to a "buy" rating in a research report on Wednesday. Barclays started 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 Up 1.2 %

Shares of SLF stock traded up $0.73 during trading on Thursday, hitting $59.62. The company's stock had a trading volume of 1,450,773 shares, compared to its average volume of 660,518. The business has a fifty day moving average of $56.62 and a 200-day moving average of $52.48. The company has a market cap of $37.57 billion, a PE ratio of 13.23, a P/E/G ratio of 1.43 and a beta of 1.01. Sun Life Financial has a 52 week low of $46.41 and a 52 week high of $59.81.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings data on Monday, August 12th. The financial services provider reported $1.25 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.72 billion.

Institutional Trading of Sun Life Financial

Several hedge funds and other institutional investors have recently bought and sold shares of SLF. CANADA LIFE ASSURANCE Co boosted its stake in shares of Sun Life Financial by 3.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 630,708 shares of the financial services provider's stock valued at $34,474,000 after purchasing an additional 23,235 shares in the last quarter. Cetera Investment Advisers increased 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 buying an additional 33,401 shares during the period. Twin Tree Management LP lifted its stake in shares of Sun Life Financial by 249.8% in the 1st quarter. Twin Tree Management LP now owns 274,119 shares of the financial services provider's stock valued at $14,961,000 after acquiring an additional 195,745 shares during the last quarter. Forsta AP Fonden boosted 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 acquiring an additional 18,500 shares during the period. Finally, Bessemer Group Inc. grew its position 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 worth $1,117,000 after acquiring 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be given a $0.621 dividend. This is an increase from Sun Life Financial's previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $2.48 dividend on an annualized basis and a yield of 4.17%. Sun Life Financial's payout ratio 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.