Research Analysts Set Expectations for SLF FY2024 Earnings

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Stock analysts at National Bank Financial lowered their FY2024 earnings estimates for shares of Sun Life Financial in a report issued on Tuesday, January 14th. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will post earnings per share of $4.67 for the year, down from their prior forecast of $4.86. National Bank Financial currently has a “Outperform” rating on the stock. The consensus estimate for Sun Life Financial’s current full-year earnings is $4.85 per share. National Bank Financial also issued estimates for Sun Life Financial’s Q4 2024 earnings at $1.26 EPS and FY2025 earnings at $5.23 EPS.

Separately, StockNews.com downgraded Sun Life Financial from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Sun Life Financial currently has a consensus rating of “Moderate Buy”.

Sun Life Financial Trading Up 0.1 %

Shares of Sun Life Financial stock opened at $58.99 on Friday. The stock has a market capitalization of $33.94 billion, a price-to-earnings ratio of 13.14, a P/E/G ratio of 1.53 and a beta of 1.03. The firm’s 50-day moving average price is $59.97 and its two-hundred day moving average price is $55.87. Sun Life Financial has a 1-year low of $46.41 and a 1-year high of $62.85.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th were given a dividend of $0.621 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $2.48 annualized dividend and a yield of 4.21%. Sun Life Financial’s dividend payout ratio is 57.46%.

Institutional Investors Weigh In On Sun Life Financial

A number of hedge funds have recently added to or reduced their stakes in SLF. Assetmark Inc. raised its stake in shares of Sun Life Financial by 2,747.4% in the third quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 522 shares during the last quarter. Addison Advisors LLC increased its holdings in shares of Sun Life Financial by 124.9% in the third quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 361 shares in the last quarter. Clean Yield Group bought a new position in Sun Life Financial in the 3rd quarter worth approximately $39,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Sun Life Financial during the 4th quarter worth $45,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Sun Life Financial in the 3rd quarter valued at $51,000. 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.