National Bank Financial Weighs in on Sun Life Financial Inc.’s FY2023 Earnings (NYSE:SLF)

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Stock analysts at National Bank Financial issued their FY2023 earnings per share estimates for shares of Sun Life Financial in a research note issued to investors on Tuesday, January 11th. National Bank Financial analyst G. Dechaine forecasts that the financial services provider will post earnings of $5.63 per share for the year. National Bank Financial has a “Outperform” rating and a $73.00 price target on the stock.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Wednesday, November 3rd. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.03. The business had revenue of $6.76 billion for the quarter. Sun Life Financial had a return on equity of 14.10% and a net margin of 10.69%.

Other research analysts have also issued research reports about the company. BMO Capital Markets raised their target price on Sun Life Financial from C$75.00 to C$76.00 and gave the company an “outperform” rating in a report on Tuesday, October 5th. CIBC raised their target price on Sun Life Financial from C$74.00 to C$81.00 and gave the company an “outperform” rating in a report on Friday, November 5th. raised their target price on Sun Life Financial from C$75.00 to C$79.50 and gave the company a “buy” rating in a report on Friday, November 5th. Royal Bank of Canada raised their target price on Sun Life Financial from C$71.00 to C$74.00 and gave the company a “sector perform” rating in a report on Friday, November 5th. Finally, Zacks Investment Research lowered Sun Life Financial from a “buy” rating to a “hold” rating and set a $57.00 price target on the stock. in a report on Monday, December 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $72.95.

Shares of NYSE:SLF opened at $57.50 on Thursday. The business’s 50 day simple moving average is $55.16 and its two-hundred day simple moving average is $53.54. The firm has a market cap of $33.70 billion, a P/E ratio of 11.86, a PEG ratio of 1.23 and a beta of 1.04. Sun Life Financial has a 52-week low of $45.84 and a 52-week high of $57.93.

The business also recently declared a quarterly dividend, which was paid on Friday, December 31st. Stockholders of record on Wednesday, November 24th were given a $0.444 dividend. The ex-dividend date was Tuesday, November 23rd. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.44. This represents a $1.78 annualized dividend and a dividend yield of 3.09%. Sun Life Financial’s payout ratio is 43.92%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Total Clarity Wealth Management Inc. purchased a new position in shares of Sun Life Financial in the third quarter valued at $26,000. Meeder Asset Management Inc. bought a new stake in Sun Life Financial during the second quarter valued at $33,000. Eubel Brady & Suttman Asset Management Inc. bought a new stake in Sun Life Financial during the second quarter valued at $35,000. Asset Dedication LLC boosted its stake in Sun Life Financial by 70.3% during the third quarter. Asset Dedication LLC now owns 787 shares of the financial services provider’s stock valued at $41,000 after buying an additional 325 shares during the period. Finally, Pacifica Partners Inc. boosted its stake in Sun Life Financial by 231.4% during the fourth quarter. Pacifica Partners Inc. now owns 855 shares of the financial services provider’s stock valued at $48,000 after buying an additional 597 shares during the period. Institutional investors own 46.88% of the company’s stock.

About Sun Life Financial

Sun Life Financial, Inc operates as a holding company. The firm engages in the provision of financial services. It operates through the following segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate. The Sun Life Financial Canada segment offers individual insurance and wealth, and group benefits and retirement services.

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