Cormark Equities Analysts Cut Earnings Estimates for SLF

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Equities researchers at Cormark decreased their FY2024 earnings per share estimates for shares of Sun Life Financial in a research note issued to investors on Tuesday, February 4th. Cormark analyst L. Persaud now anticipates that the financial services provider will post earnings per share of $4.68 for the year, down from their previous estimate of $4.87. The consensus estimate for Sun Life Financial’s current full-year earnings is $4.80 per share. Cormark also issued estimates for Sun Life Financial’s Q4 2024 earnings at $1.24 EPS and FY2025 earnings at $5.22 EPS.

Several other equities research analysts also recently issued reports on the stock. StockNews.com downgraded shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Wednesday. National Bank Financial raised Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Sun Life Financial Price Performance

Sun Life Financial stock opened at $58.78 on Thursday. Sun Life Financial has a 12 month low of $46.41 and a 12 month high of $62.85. The company has a market cap of $36.92 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 1.57 and a beta of 1.03. The stock’s 50-day moving average is $59.32 and its 200-day moving average is $56.78.

Hedge Funds Weigh In On Sun Life Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLF. The Manufacturers Life Insurance Company grew its position in shares of Sun Life Financial by 7.6% during the third quarter. The Manufacturers Life Insurance Company now owns 9,256,384 shares of the financial services provider’s stock worth $537,288,000 after buying an additional 654,404 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Sun Life Financial by 10.8% in the 4th quarter. CIBC Asset Management Inc now owns 7,192,059 shares of the financial services provider’s stock worth $427,712,000 after purchasing an additional 703,391 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Sun Life Financial by 28.2% in the 3rd quarter. National Bank of Canada FI now owns 5,837,298 shares of the financial services provider’s stock valued at $338,621,000 after purchasing an additional 1,284,556 shares in the last quarter. FMR LLC lifted its position in shares of Sun Life Financial by 5.2% during the third quarter. FMR LLC now owns 5,189,939 shares of the financial services provider’s stock worth $301,047,000 after purchasing an additional 257,178 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Sun Life Financial by 1.2% in the third quarter. JPMorgan Chase & Co. now owns 2,841,712 shares of the financial services provider’s stock worth $164,876,000 after purchasing an additional 34,072 shares in the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

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.