Research Analysts Set Expectations for Sun Life Financial Inc.’s Q1 2022 Earnings (NYSE:SLF)

Sun Life Financial Inc. (NYSE:SLF – Get Rating) (TSE:SLF) – Equities researchers at Desjardins issued their Q1 2022 earnings per share (EPS) estimates for shares of Sun Life Financial in a note issued to investors on Wednesday, April 13th. Desjardins analyst D. Young anticipates that the financial services provider will earn $1.11 per share for the quarter. Desjardins also issued estimates for Sun Life Financial’s FY2022 earnings at $4.93 EPS and FY2023 earnings at $5.55 EPS.

Sun Life Financial (NYSE:SLF – Get Rating) (TSE:SLF) last announced its earnings results on Wednesday, February 9th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.01). The business had revenue of $10.31 billion for the quarter. Sun Life Financial had a net margin of 11.26% and a return on equity of 13.96%. During the same period last year, the business earned $1.13 EPS.

A number of other equities analysts have also weighed in on SLF. Scotiabank dropped their price target on shares of Sun Life Financial from C$78.00 to C$76.00 in a research report on Friday, February 11th. BMO Capital Markets dropped their price target on shares of Sun Life Financial from C$81.00 to C$80.00 in a research report on Friday, February 11th. StockNews.com assumed coverage on shares of Sun Life Financial in a research report on Thursday, March 31st. They issued a “hold” rating for the company. National Bank Financial lowered shares of Sun Life Financial from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $79.00 to $77.00 in a research report on Thursday, February 10th. Finally, Zacks Investment Research reiterated a “hold” rating on shares of Sun Life Financial in a research report on Thursday, March 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Sun Life Financial has an average rating of “Hold” and a consensus target price of $73.55.

SLF opened at $54.61 on Friday. The firm has a market cap of $32.00 billion, a P/E ratio of 10.25, a PEG ratio of 1.22 and a beta of 1.05. Sun Life Financial has a 1-year low of $48.85 and a 1-year high of $58.49. The company has a 50 day simple moving average of $54.42 and a two-hundred day simple moving average of $55.11.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Wednesday, March 2nd were paid a dividend of $0.5191 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Tuesday, March 1st. This represents a $2.08 dividend on an annualized basis and a yield of 3.80%. Sun Life Financial’s dividend payout ratio is presently 39.02%.

Institutional investors have recently added to or reduced their stakes in the stock. FIL Ltd increased its position in Sun Life Financial by 12.2% during the third quarter. FIL Ltd now owns 16,472,720 shares of the financial services provider’s stock valued at $847,955,000 after acquiring an additional 1,797,072 shares during the last quarter. Mackenzie Financial Corp increased its position in Sun Life Financial by 6.2% during the third quarter. Mackenzie Financial Corp now owns 16,421,252 shares of the financial services provider’s stock valued at $843,908,000 after acquiring an additional 954,491 shares during the last quarter. CIBC Asset Management Inc increased its position in Sun Life Financial by 3.9% during the fourth quarter. CIBC Asset Management Inc now owns 7,654,688 shares of the financial services provider’s stock valued at $425,792,000 after acquiring an additional 290,601 shares during the last quarter. 1832 Asset Management L.P. increased its position in Sun Life Financial by 1.8% during the fourth quarter. 1832 Asset Management L.P. now owns 5,988,028 shares of the financial services provider’s stock valued at $333,201,000 after acquiring an additional 106,135 shares during the last quarter. Finally, Norges Bank bought a new position in Sun Life Financial during the fourth quarter valued at $297,493,000. 47.16% of the stock is currently owned by institutional investors.

Sun Life Financial Company Profile (Get Rating)

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company also provides reinsurance products; investment counselling and portfolio management services; mutual funds and segregated funds; trust and banking services; real estate property brokerage and appraisal services; and merchant banking services.

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