National Bank Financial Forecasts SLF FY2024 Earnings

Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF - Investment analysts at National Bank Financial upped their FY2024 earnings per share (EPS) estimates for Sun Life Financial in a report issued on Monday, November 4th. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will earn $4.86 per share for the year, up from their prior forecast of $4.80. The consensus estimate for Sun Life Financial's current full-year earnings is $4.86 per share. National Bank Financial also issued estimates for Sun Life Financial's Q4 2024 earnings at $1.30 EPS and FY2025 earnings at $5.41 EPS.

Several other research firms have also commented on SLF. StockNews.com upgraded Sun Life Financial from a "hold" rating to a "buy" rating in a research report on Wednesday. Barclays assumed coverage on Sun Life Financial in a research note on Thursday, September 5th. They set an "equal weight" rating for the company.

Sun Life Financial Trading Up 1.2 %

Sun Life Financial stock traded up $0.73 during mid-day trading on Thursday, hitting $59.62. The company had a trading volume of 1,450,773 shares, compared to its average volume of 660,518. Sun Life Financial has a 12-month low of $46.41 and a 12-month high of $59.81. The company's fifty day moving average is $56.62 and its 200-day moving average is $52.48. The company has a market capitalization of $37.57 billion, a price-to-earnings ratio of 13.23, a P/E/G ratio of 1.43 and a beta of 1.01.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its quarterly earnings data on Monday, August 12th. The financial services provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. Sun Life Financial had a return on equity of 17.68% and a net margin of 7.32%. The business had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.72 billion.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.621 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.17%. 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. Sun Life Financial's dividend payout ratio is presently 52.34%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SLF. Assetmark Inc. raised its stake in Sun Life Financial by 2,747.4% in the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 522 shares during the last quarter. GAMMA Investing LLC raised its stake in Sun Life Financial by 6,244.4% in the 2nd quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 562 shares during the last quarter. Addison Advisors LLC raised its stake in Sun Life Financial by 124.9% in the 3rd quarter. Addison Advisors LLC now owns 650 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 361 shares during the last quarter. Clean Yield Group acquired a new position in Sun Life Financial in the 3rd quarter valued at $39,000. Finally, Ridgewood Investments LLC purchased a new stake in Sun Life Financial in the 2nd quarter valued at $39,000. 52.26% of the stock is owned by institutional investors and hedge funds.

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.