National Bank Financial Analysts Boost Earnings Estimates for Sun Life Financial Inc. (NYSE:SLF)

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – National Bank Financial lifted their Q1 2024 earnings per share (EPS) estimates for Sun Life Financial in a research report issued on Thursday, April 25th. National Bank Financial analyst G. Dechaine now expects that the financial services provider will post earnings per share of $1.20 for the quarter, up from their prior forecast of $1.19. The consensus estimate for Sun Life Financial’s current full-year earnings is $5.03 per share. National Bank Financial also issued estimates for Sun Life Financial’s Q2 2024 earnings at $1.21 EPS, Q4 2024 earnings at $1.28 EPS, FY2024 earnings at $4.97 EPS and FY2025 earnings at $5.39 EPS.

Separately, Jefferies Financial Group began coverage on Sun Life Financial in a report on Thursday, February 22nd. They set a “buy” rating for the company.

Sun Life Financial Stock Down 1.1 %

SLF opened at $51.06 on Monday. Sun Life Financial has a 12-month low of $44.57 and a 12-month high of $55.46. The stock has a market cap of $29.74 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 1.28 and a beta of 1.01. The business has a 50 day moving average of $53.32 and a 200-day moving average of $51.41.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. Sun Life Financial had a return on equity of 17.30% and a net margin of 7.79%. The company had revenue of $13.73 billion during the quarter.

Hedge Funds Weigh In On Sun Life Financial

A number of hedge funds have recently added to or reduced their stakes in SLF. Commonwealth Equity Services LLC increased its stake in Sun Life Financial by 8.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 62,541 shares of the financial services provider’s stock worth $3,052,000 after acquiring an additional 4,963 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Sun Life Financial by 13.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 14,368 shares of the financial services provider’s stock worth $701,000 after acquiring an additional 1,713 shares during the period. Maryland State Retirement & Pension System increased its stake in Sun Life Financial by 3.3% during the 3rd quarter. Maryland State Retirement & Pension System now owns 90,746 shares of the financial services provider’s stock worth $4,429,000 after acquiring an additional 2,877 shares during the period. Raymond James & Associates increased its stake in Sun Life Financial by 30.3% during the 3rd quarter. Raymond James & Associates now owns 34,839 shares of the financial services provider’s stock worth $1,700,000 after acquiring an additional 8,103 shares during the period. Finally, Independent Advisor Alliance bought a new position in Sun Life Financial during the 3rd quarter worth $608,000. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, February 28th were issued a dividend of $0.581 per share. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.56. This represents a $2.32 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend was Tuesday, February 27th. Sun Life Financial’s dividend payout ratio (DPR) is presently 59.79%.

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.