Cormark Comments on Sun Life Financial Inc.’s Q1 2022 Earnings (NYSE:SLF)

Sun Life Financial Inc. (NYSE:SLFGet Rating) (TSE:SLF) – Investment analysts at Cormark lifted their Q1 2022 earnings estimates for Sun Life Financial in a research report issued to clients and investors on Wednesday, May 4th. Cormark analyst L. Persaud now expects that the financial services provider will post earnings per share of $1.10 for the quarter, up from their prior estimate of $1.05.

SLF has been the subject of several other research reports. National Bank Financial decreased their target price on Sun Life Financial from C$77.00 to C$76.00 in a research report on Wednesday, April 20th. StockNews.com assumed coverage on shares of Sun Life Financial in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research restated a “hold” rating on shares of Sun Life Financial in a report on Thursday, March 17th. BMO Capital Markets dropped their target price on shares of Sun Life Financial from C$81.00 to C$80.00 in a research report on Friday, February 11th. Finally, Scotiabank reduced their price objective on Sun Life Financial from C$76.00 to C$71.00 in a research report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $72.95.

Shares of Sun Life Financial stock opened at $49.82 on Friday. The firm has a market cap of $29.20 billion, a price-to-earnings ratio of 9.35, a price-to-earnings-growth ratio of 1.12 and a beta of 1.06. Sun Life Financial has a fifty-two week low of $48.69 and a fifty-two week high of $58.49. The business has a fifty day simple moving average of $53.65 and a 200-day simple moving average of $54.89.

Sun Life Financial (NYSE:SLFGet Rating) (TSE:SLF) last announced its quarterly 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). Sun Life Financial had a net margin of 11.26% and a return on equity of 13.96%. The firm had revenue of $10.31 billion for the quarter. During the same period last year, the business posted $1.13 earnings per share.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. boosted its position in Sun Life Financial by 1.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 13,740 shares of the financial services provider’s stock valued at $707,000 after buying an additional 202 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Sun Life Financial by 22.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 22,937 shares of the financial services provider’s stock worth $1,179,000 after acquiring an additional 4,279 shares in the last quarter. Advisor Group Holdings Inc. increased its position in shares of Sun Life Financial by 31.4% during the third quarter. Advisor Group Holdings Inc. now owns 24,760 shares of the financial services provider’s stock worth $1,273,000 after acquiring an additional 5,913 shares in the last quarter. JustInvest LLC increased its position in shares of Sun Life Financial by 20.4% during the third quarter. JustInvest LLC now owns 7,243 shares of the financial services provider’s stock worth $373,000 after acquiring an additional 1,225 shares in the last quarter. Finally, Boston Private Wealth LLC increased its position in shares of Sun Life Financial by 25.3% during the third quarter. Boston Private Wealth LLC now owns 17,109 shares of the financial services provider’s stock worth $880,000 after acquiring an additional 3,455 shares in the last quarter. 47.14% of the stock is currently owned by institutional investors.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Wednesday, March 2nd were given a dividend of $0.5191 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.17%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.44. The ex-dividend date was Tuesday, March 1st. Sun Life Financial’s dividend payout ratio (DPR) is currently 39.02%.

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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Earnings History and Estimates for Sun Life Financial (NYSE:SLF)

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