SLF FY2024 EPS Forecast Lifted by National Bank Financial

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Equities researchers at National Bank Financial lifted their FY2024 EPS estimates for Sun Life Financial in a research report issued on Monday, November 4th. National Bank Financial analyst G. Dechaine now expects that the financial services provider will post earnings of $4.86 per share for the year, up from their prior forecast of $4.80. The consensus estimate for Sun Life Financial’s current full-year earnings is $4.86 per share. National Bank Financial also issued estimates for Sun Life Financial’s Q4 2024 earnings at $1.30 EPS and FY2025 earnings at $5.41 EPS.

Other equities research analysts also recently issued research reports about the stock. StockNews.com raised shares of Sun Life Financial from a “hold” rating to a “buy” rating in a research note on Wednesday. Barclays began coverage on shares of Sun Life Financial in a report on Thursday, September 5th. They set an “equal weight” rating for the company.

Sun Life Financial Stock Performance

Shares of NYSE:SLF opened at $58.90 on Thursday. Sun Life Financial has a 52 week low of $46.41 and a 52 week high of $59.03. The company has a market capitalization of $37.11 billion, a PE ratio of 13.12, a PEG ratio of 1.43 and a beta of 1.01. The company has a 50 day moving average price of $56.62 and a two-hundred day moving average price of $52.48.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly 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. Sun Life Financial had a net margin of 7.32% and a return on equity of 17.68%. The business had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.72 billion.

Hedge Funds Weigh In On Sun Life Financial

Hedge funds have recently bought and sold shares of the company. Assetmark Inc. increased its holdings in Sun Life Financial by 2,747.4% in the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock valued at $31,000 after buying an additional 522 shares during the period. GAMMA Investing LLC increased its holdings in Sun Life Financial by 6,244.4% in the 2nd quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock valued at $28,000 after buying an additional 562 shares during the period. Addison Advisors LLC increased its holdings 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 buying an additional 361 shares during the period. Clean Yield Group bought a new position in Sun Life Financial in the 3rd quarter valued at about $39,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of Sun Life Financial in the 2nd quarter valued at approximately $39,000. 52.26% of the stock is owned by institutional investors.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be given a dividend of $0.621 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.22%. This is a positive change 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 currently 52.34%.

About Sun Life Financial

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.