Q4 EPS Estimate for Sun Life Financial Lifted by Analyst

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Analysts at Desjardins lifted their Q4 2024 earnings per share estimates for Sun Life Financial in a report issued 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 previous forecast of $1.27. The consensus estimate for Sun Life Financial’s current full-year earnings is $4.86 per share.

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

Several other brokerages also recently issued reports on SLF. Barclays initiated coverage on Sun Life Financial in a report on Thursday, September 5th. They issued an “equal weight” rating for the company. StockNews.com upgraded Sun Life Financial from a “hold” rating to a “buy” rating in a report on Wednesday.

Sun Life Financial Price Performance

Shares of Sun Life Financial stock opened at $58.90 on Thursday. Sun Life Financial has a 1 year low of $46.41 and a 1 year high of $59.03. The business has a 50-day moving average of $56.62 and a two-hundred day moving average of $52.48. The company has a market capitalization of $37.11 billion, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be issued a dividend of $0.621 per share. The ex-dividend date is Wednesday, November 27th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.22%. Sun Life Financial’s dividend payout ratio (DPR) is presently 52.34%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Toronto Dominion Bank boosted its position in Sun Life Financial by 42.8% during the first quarter. Toronto Dominion Bank now owns 6,642,564 shares of the financial services provider’s stock valued at $362,551,000 after purchasing an additional 1,991,360 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Sun Life Financial by 13.9% in the second quarter. The Manufacturers Life Insurance Company now owns 8,601,980 shares of the financial services provider’s stock valued at $421,167,000 after buying an additional 1,049,244 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Sun Life Financial by 16.5% in the second quarter. CIBC Asset Management Inc now owns 6,407,407 shares of the financial services provider’s stock valued at $313,976,000 after buying an additional 905,679 shares during the last quarter. Intact Investment Management Inc. lifted its position in shares of Sun Life Financial by 423.9% in the second quarter. Intact Investment Management Inc. now owns 1,017,964 shares of the financial services provider’s stock valued at $49,909,000 after buying an additional 823,670 shares during the last quarter. Finally, AGF Management Ltd. lifted its position in shares of Sun Life Financial by 46.5% in the second quarter. AGF Management Ltd. now owns 2,513,349 shares of the financial services provider’s stock valued at $135,816,000 after buying an additional 797,901 shares during the last quarter. 52.26% of the stock is currently owned by institutional investors.

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.