SLF FY2024 EPS Estimate Decreased by National Bank Financial

Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF - Equities researchers at National Bank Financial cut their FY2024 EPS estimates for Sun Life Financial in a research report issued on Tuesday, January 14th. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will post earnings per share of $4.67 for the year, down from their previous forecast of $4.86. National Bank Financial has a "Outperform" rating on the stock. The consensus estimate for Sun Life Financial's current full-year earnings is $4.85 per share. National Bank Financial also issued estimates for Sun Life Financial's Q4 2024 earnings at $1.26 EPS and FY2025 earnings at $5.23 EPS.

Separately, StockNews.com downgraded Sun Life Financial from a "buy" rating to a "hold" rating in a report on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy".

Sun Life Financial Trading Down 0.4 %

Shares of Sun Life Financial stock traded down $0.23 on Friday, hitting $58.83. 359,340 shares of the company traded hands, compared to its average volume of 404,558. The company has a market cap of $33.85 billion, a PE ratio of 13.10, a PEG ratio of 1.53 and a beta of 1.03. The stock's 50 day moving average price is $59.96 and its 200-day moving average price is $55.89. Sun Life Financial has a 52 week low of $46.41 and a 52 week high of $62.85.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th were issued a $0.621 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $2.48 annualized dividend and a dividend yield of 4.22%. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.59. Sun Life Financial's payout ratio is currently 57.46%.

Institutional Investors Weigh In On Sun Life Financial

Several hedge funds have recently modified their holdings of SLF. Cardinal Capital Management Inc. raised its stake in Sun Life Financial by 29.1% in the fourth quarter. Cardinal Capital Management Inc. now owns 1,123,354 shares of the financial services provider's stock worth $66,550,000 after buying an additional 253,488 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Sun Life Financial by 13.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 7,622 shares of the financial services provider's stock valued at $452,000 after acquiring an additional 893 shares during the period. SG Americas Securities LLC bought a new position in shares of Sun Life Financial in the 4th quarter worth $127,000. Atomi Financial Group Inc. purchased a new stake in shares of Sun Life Financial during the 4th quarter worth $240,000. Finally, Avanza Fonder AB bought a new stake in Sun Life Financial during the fourth quarter valued at about $2,499,000. Hedge funds and other institutional investors own 52.26% of the company's stock.

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.