Sun Life Financial Inc. Expected to Earn FY2022 Earnings of $4.61 Per Share (NYSE:SLF)

Sun Life Financial Inc. (NYSE:SLF – Get Rating) (TSE:SLF) – Equities research analysts at Cormark lifted their FY2022 EPS estimates for shares of Sun Life Financial in a report issued on Monday, January 23rd. Cormark analyst L. Persaud now forecasts that the financial services provider will post earnings per share of $4.61 for the year, up from their prior forecast of $4.53. The consensus estimate for Sun Life Financial’s current full-year earnings is $4.47 per share. Cormark also issued estimates for Sun Life Financial’s Q4 2022 earnings at $1.17 EPS and FY2023 earnings at $4.76 EPS.

Sun Life Financial (NYSE:SLF – Get Rating) (TSE:SLF) last posted its earnings results on Wednesday, November 2nd. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.17. The company had revenue of $6.62 billion during the quarter. Sun Life Financial had a net margin of 13.67% and a return on equity of 13.30%.

A number of other research firms have also recently issued reports on SLF. Royal Bank of Canada cut their target price on shares of Sun Life Financial from C$78.00 to C$75.00 in a research note on Friday, November 4th. StockNews.com assumed coverage on shares of Sun Life Financial in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Barclays cut their price objective on shares of Sun Life Financial from C$67.00 to C$63.00 in a report on Wednesday, October 12th. Credit Suisse Group started coverage on shares of Sun Life Financial in a report on Thursday, January 12th. They issued an “outperform” rating for the company. Finally, National Bank Financial cut their price target on Sun Life Financial from C$67.00 to C$65.00 in a research note on Friday, October 28th.

Sun Life Financial Stock Performance

NYSE SLF opened at $49.05 on Tuesday. The firm has a 50-day moving average of $46.86 and a 200-day moving average of $44.92. The stock has a market cap of $28.76 billion, a PE ratio of 11.51, a P/E/G ratio of 1.19 and a beta of 1.00. Sun Life Financial has a 52-week low of $37.96 and a 52-week high of $58.49.

Sun Life Financial Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Wednesday, November 23rd were paid a dividend of $0.528 per share. This represents a $2.11 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Tuesday, November 22nd. Sun Life Financial’s payout ratio is presently 49.53%.

Institutional Investors Weigh In On Sun Life Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP lifted its stake in Sun Life Financial by 15.9% during the fourth quarter. Allworth Financial LP now owns 1,513 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 208 shares during the last quarter. Lowe Wealth Advisors LLC increased its holdings in shares of Sun Life Financial by 16.4% during the fourth quarter. Lowe Wealth Advisors LLC now owns 1,523 shares of the financial services provider’s stock worth $71,000 after buying an additional 215 shares in the last quarter. Cigna Investments Inc. New increased its holdings in shares of Sun Life Financial by 2.3% during the second quarter. Cigna Investments Inc. New now owns 11,026 shares of the financial services provider’s stock worth $504,000 after buying an additional 248 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Sun Life Financial by 1.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 24,648 shares of the financial services provider’s stock worth $1,376,000 after buying an additional 269 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft increased its holdings in shares of Sun Life Financial by 1.5% during the third quarter. Baader Bank Aktiengesellschaft now owns 20,290 shares of the financial services provider’s stock worth $806,000 after buying an additional 290 shares in the last quarter. 44.94% of the stock is currently owned by institutional investors.

Sun Life Financial Company Profile

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Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company also provides reinsurance products; investment counselling and portfolio management services; mutual funds and segregated funds; trust and banking services; real estate property brokerage and appraisal services; and merchant banking services.