National Bank Financial Forecasts SLF FY2024 Earnings

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Equities research analysts at National Bank Financial dropped their FY2024 earnings per share estimates for Sun Life Financial in a research report issued on Tuesday, January 14th. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will earn $4.67 per share 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 lowered shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Sun Life Financial Stock Down 0.4 %

Shares of NYSE:SLF opened at $58.83 on Friday. The stock has a market capitalization of $33.85 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 1.53 and a beta of 1.03. The firm’s 50 day moving average price is $59.95 and its 200-day moving average price is $55.96. Sun Life Financial has a twelve month low of $46.41 and a twelve month high of $62.85.

Hedge Funds Weigh In On Sun Life Financial

A number of institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. increased its holdings in shares of Sun Life Financial by 2,747.4% during the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after buying an additional 522 shares during the last quarter. Addison Advisors LLC grew its position in Sun Life Financial by 124.9% in the third quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 361 shares during the period. Clean Yield Group acquired a new stake in Sun Life Financial during the third quarter worth $39,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Sun Life Financial in the fourth quarter valued at $45,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Sun Life Financial in the 3rd quarter valued at $51,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th were issued a $0.621 dividend. 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 dividend on an annualized basis and a yield of 4.22%. Sun Life Financial’s dividend payout ratio is presently 57.46%.

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.