National Bank Financial Forecasts SLF FY2024 Earnings

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Stock analysts at National Bank Financial raised their FY2024 earnings estimates for shares of Sun Life Financial in a report issued on Monday, November 4th. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will post earnings of $4.86 per share for the year, up from their previous 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.

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

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

Sun Life Financial Price Performance

SLF opened at $58.90 on Thursday. The company has a market capitalization of $37.11 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 1.43 and a beta of 1.01. The firm’s fifty day moving average price is $56.62 and its two-hundred day moving average price is $52.48. Sun Life Financial has a 1 year low of $46.41 and a 1 year high of $59.03.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.621 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. This represents a $2.48 annualized dividend and a yield of 4.22%. Sun Life Financial’s dividend payout ratio is 52.34%.

Institutional Investors Weigh In On Sun Life Financial

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in Sun Life Financial by 6,244.4% during the second quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 562 shares during the last quarter. Assetmark Inc. increased its position in shares of Sun Life Financial by 2,747.4% during the third 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. Addison Advisors LLC increased its position in shares of Sun Life Financial by 124.9% during the third 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. Ridgewood Investments LLC bought a new stake in shares of Sun Life Financial during the second quarter valued at about $39,000. Finally, Clean Yield Group bought a new stake in shares of Sun Life Financial during the third quarter valued at about $39,000. 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.