Cormark Equities Analysts Boost Earnings Estimates for SLF

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Equities researchers at Cormark raised their FY2024 EPS estimates for shares of Sun Life Financial in a research report issued to clients and investors on Tuesday, November 5th. Cormark analyst L. Persaud now anticipates that the financial services provider will post earnings of $4.87 per share for the year, up from their previous estimate of $4.82. The consensus estimate for Sun Life Financial’s current full-year earnings is $4.86 per share. Cormark also issued estimates for Sun Life Financial’s FY2025 earnings at $5.40 EPS.

SLF has been the topic of a number of other reports. Barclays began coverage on shares of Sun Life Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating on the stock. StockNews.com raised Sun Life Financial from a “hold” rating to a “buy” rating in a report on Wednesday.

Sun Life Financial Stock Up 2.0 %

Shares of NYSE SLF opened at $58.90 on Thursday. The firm has a market cap of $37.11 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 1.43 and a beta of 1.01. The business’s 50 day moving average is $56.62 and its two-hundred day moving average is $52.48. Sun Life Financial has a 52-week low of $46.41 and a 52-week high of $59.03.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Monday, August 12th. The financial services provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. The firm had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Sun Life Financial had a return on equity of 17.68% and a net margin of 7.32%.

Sun Life Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be issued a $0.621 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.22%. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 27th. Sun Life Financial’s dividend payout ratio (DPR) is presently 52.34%.

Institutional Investors Weigh In On Sun Life Financial

Institutional investors have recently bought and sold shares of the business. Natixis Advisors LLC increased its position in shares of Sun Life Financial by 13.3% during the third quarter. Natixis Advisors LLC now owns 43,246 shares of the financial services provider’s stock valued at $2,509,000 after purchasing an additional 5,086 shares during the period. CIBC Asset Management Inc raised its position in Sun Life Financial by 1.3% during the third quarter. CIBC Asset Management Inc now owns 6,488,668 shares of the financial services provider’s stock worth $377,311,000 after acquiring an additional 81,261 shares in the last quarter. Plato Investment Management Ltd bought a new position in shares of Sun Life Financial during the 3rd quarter worth approximately $101,000. Entropy Technologies LP acquired a new position in shares of Sun Life Financial in the third quarter valued at approximately $788,000. Finally, Addison Advisors LLC boosted its stake in Sun Life Financial by 124.9% in the 3rd 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 during the period. 52.26% of the stock is currently owned by institutional investors and hedge funds.

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.