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

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Stock analysts at Desjardins increased their Q3 2024 earnings per share estimates for shares of Sun Life Financial in a report issued on Wednesday, October 9th. Desjardins analyst D. Young now anticipates that the financial services provider will post earnings per share of $1.27 for the quarter, up from their prior estimate 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 released its earnings results on Monday, August 12th. The financial services provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. The business had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.72 billion. Sun Life Financial had a return on equity of 17.47% and a net margin of 8.60%.

Separately, Barclays started coverage on shares of Sun Life Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating on the stock.

Sun Life Financial Price Performance

SLF stock opened at $57.22 on Friday. Sun Life Financial has a 12 month low of $44.57 and a 12 month high of $58.51. The firm’s 50-day moving average is $54.37 and its 200 day moving average is $51.93. The company has a market capitalization of $33.03 billion, a PE ratio of 14.75, a P/E/G ratio of 1.47 and a beta of 1.00.

Institutional Investors Weigh In On Sun Life Financial

Several hedge funds have recently made changes to their positions in the company. Voisard Asset Management Group Inc. purchased a new position in shares of Sun Life Financial during the fourth quarter valued at $26,000. GAMMA Investing LLC grew its holdings in 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 acquiring an additional 562 shares in the last quarter. Ridgewood Investments LLC purchased a new position in Sun Life Financial during the 2nd quarter valued at about $39,000. Clean Yield Group purchased a new position in Sun Life Financial during the 3rd quarter valued at about $39,000. Finally, Fairfield Financial Advisors LTD bought a new stake in shares of Sun Life Financial in the 2nd quarter valued at about $43,000. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Sun Life Financial Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Wednesday, August 28th were given a dividend of $0.587 per share. This represents a $2.35 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date was Wednesday, August 28th. Sun Life Financial’s dividend payout ratio (DPR) is presently 60.57%.

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.