Q3 2024 EPS Estimates for Sun Life Financial Inc. Boosted by Analyst (NYSE:SLF)

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Equities research analysts at Desjardins boosted their Q3 2024 earnings estimates for Sun Life Financial in a note issued to investors on Wednesday, October 9th. Desjardins analyst D. Young now anticipates that the financial services provider will post earnings of $1.27 per share for the quarter, up from their prior forecast of $1.24. The consensus estimate for Sun Life Financial’s current full-year earnings is $4.86 per share. Desjardins also issued estimates for Sun Life Financial’s FY2024 earnings at $4.94 EPS and FY2026 earnings at $5.88 EPS.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings data on Monday, August 12th. The financial services provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. The business had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.72 billion. Sun Life Financial had a net margin of 8.60% and a return on equity of 17.47%.

Separately, Barclays initiated coverage on shares of Sun Life Financial in a research report on Thursday, September 5th. They set an “equal weight” rating for the company.

Sun Life Financial Trading Up 0.2 %

Shares of NYSE:SLF opened at $57.24 on Friday. The company has a market capitalization of $33.04 billion, a PE ratio of 14.75, a P/E/G ratio of 1.47 and a beta of 1.00. Sun Life Financial has a twelve month low of $44.57 and a twelve month high of $58.51. The firm has a 50 day simple moving average of $54.19 and a 200-day simple moving average of $51.90.

Sun Life Financial Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Wednesday, August 28th were issued a $0.587 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.10%. Sun Life Financial’s payout ratio is 60.57%.

Hedge Funds Weigh In On Sun Life Financial

A number of institutional investors have recently modified their holdings of the business. Voisard Asset Management Group Inc. acquired a new position in Sun Life Financial in the 4th quarter valued at $26,000. GAMMA Investing LLC boosted its position in shares of Sun Life Financial by 6,244.4% during the 2nd quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 562 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in shares of Sun Life Financial during the 2nd quarter worth $39,000. Clean Yield Group purchased a new stake in shares of Sun Life Financial during the 3rd quarter worth $39,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in shares of Sun Life Financial during the 2nd quarter worth $43,000. 52.26% of the stock is owned by institutional investors and hedge funds.

About Sun Life Financial

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.