Q1 2024 EPS Estimates for Sun Life Financial Inc. Lifted by Analyst (NYSE:SLF)

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Investment analysts at Cormark increased their Q1 2024 earnings per share (EPS) estimates for Sun Life Financial in a research note issued on Thursday, April 25th. Cormark analyst L. Persaud now expects that the financial services provider will post earnings of $1.19 per share for the quarter, up from their previous forecast of $1.18. The consensus estimate for Sun Life Financial’s current full-year earnings is $5.06 per share.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $13.73 billion for the quarter.

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

Sun Life Financial Trading Up 0.8 %

Sun Life Financial stock opened at $51.71 on Friday. The firm has a market capitalization of $30.12 billion, a P/E ratio of 13.33, a PEG ratio of 1.28 and a beta of 1.01. The stock has a fifty day moving average price of $53.44 and a 200 day moving average price of $51.35. Sun Life Financial has a 52 week low of $44.57 and a 52 week high of $55.46.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, February 28th were given a dividend of $0.581 per share. The ex-dividend date was Tuesday, February 27th. This represents a $2.32 dividend on an annualized basis and a yield of 4.49%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.56. Sun Life Financial’s payout ratio is currently 59.79%.

Institutional Trading of Sun Life Financial

Hedge funds have recently added to or reduced their stakes in the business. CWM LLC raised its stake in shares of Sun Life Financial by 12.3% in the 3rd quarter. CWM LLC now owns 5,884 shares of the financial services provider’s stock worth $287,000 after buying an additional 643 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of Sun Life Financial by 8.6% during the third quarter. Commonwealth Equity Services LLC now owns 62,541 shares of the financial services provider’s stock worth $3,052,000 after purchasing an additional 4,963 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of Sun Life Financial by 13.5% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 14,368 shares of the financial services provider’s stock worth $701,000 after purchasing an additional 1,713 shares during the period. Maryland State Retirement & Pension System raised its position in shares of Sun Life Financial by 3.3% during the third quarter. Maryland State Retirement & Pension System now owns 90,746 shares of the financial services provider’s stock worth $4,429,000 after purchasing an additional 2,877 shares during the period. Finally, Raymond James & Associates raised its position in shares of Sun Life Financial by 30.3% during the third quarter. Raymond James & Associates now owns 34,839 shares of the financial services provider’s stock worth $1,700,000 after purchasing an additional 8,103 shares during the period. Institutional investors own 52.26% of the company’s stock.

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.