Sun Life Financial Inc. Forecasted to Earn FY2024 Earnings of $5.03 Per Share (NYSE:SLF)

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Investment analysts at Cormark cut their FY2024 earnings per share estimates for shares of Sun Life Financial in a research note issued on Thursday, April 25th. Cormark analyst L. Persaud now expects that the financial services provider will earn $5.03 per share for the year, down from their prior estimate of $5.16. The consensus estimate for Sun Life Financial’s current full-year earnings is $5.03 per share. Cormark also issued estimates for Sun Life Financial’s FY2025 earnings at $5.37 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 Performance

NYSE:SLF opened at $51.67 on Monday. The stock has a fifty day moving average price of $53.44 and a 200-day moving average price of $51.38. The company has a market cap of $30.10 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 1.28 and a beta of 1.01. Sun Life Financial has a fifty-two week low of $44.57 and a fifty-two week high of $55.46.

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

Hedge Funds Weigh In On Sun Life Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Voisard Asset Management Group Inc. acquired a new stake in shares of Sun Life Financial in the fourth quarter valued at about $26,000. Northwest Financial Advisors acquired a new stake in shares of Sun Life Financial in the fourth quarter valued at about $29,000. Headinvest LLC acquired a new stake in shares of Sun Life Financial in the third quarter valued at about $39,000. RIA Advisory Group LLC bought a new stake in shares of Sun Life Financial during the 4th quarter valued at about $39,000. Finally, Legacy Financial Group LLC bought a new stake in shares of Sun Life Financial during the 3rd quarter valued at about $40,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.581 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.50%. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.56. Sun Life Financial’s payout ratio is 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.