Sun Life Financial Inc. (NYSE:SLF) to Post FY2024 Earnings of $5.16 Per Share, Cormark Forecasts

Sun Life Financial Inc. (NYSE:SLFFree Report) (TSE:SLF) – Equities research analysts at Cormark increased their FY2024 EPS estimates for Sun Life Financial in a note issued to investors on Thursday, February 8th. Cormark analyst L. Persaud now anticipates that the financial services provider will post earnings per share of $5.16 for the year, up from their previous estimate of $4.96. The consensus estimate for Sun Life Financial’s current full-year earnings is $5.02 per share. Cormark also issued estimates for Sun Life Financial’s FY2025 earnings at $5.52 EPS.

Sun Life Financial (NYSE:SLFGet Free Report) (TSE:SLF) last posted its quarterly earnings results on Monday, November 13th. The financial services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.15 by $0.04. The business had revenue of $1.82 billion during the quarter. Sun Life Financial had a net margin of 7.79% and a return on equity of 17.29%.

Sun Life Financial Stock Up 0.4 %

NYSE SLF opened at $52.79 on Friday. The stock has a market capitalization of $30.86 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 1.31 and a beta of 1.01. The company has a 50 day moving average price of $51.30 and a two-hundred day moving average price of $49.85. Sun Life Financial has a 12-month low of $43.53 and a 12-month high of $53.21.

Hedge Funds Weigh In On Sun Life Financial

Institutional investors have recently modified their holdings of the company. 1832 Asset Management L.P. raised its position in shares of Sun Life Financial by 4.8% in the second quarter. 1832 Asset Management L.P. now owns 7,338,472 shares of the financial services provider’s stock valued at $382,481,000 after purchasing an additional 336,042 shares during the period. Barometer Capital Management Inc. increased its position in Sun Life Financial by 7.2% during the third quarter. Barometer Capital Management Inc. now owns 151,850 shares of the financial services provider’s stock worth $7,410,000 after acquiring an additional 10,200 shares during the period. Advisor Partners II LLC increased its position in Sun Life Financial by 7.3% during the third quarter. Advisor Partners II LLC now owns 7,799 shares of the financial services provider’s stock worth $381,000 after acquiring an additional 528 shares during the period. Cumberland Partners Ltd increased its position in Sun Life Financial by 17.4% during the second quarter. Cumberland Partners Ltd now owns 18,647 shares of the financial services provider’s stock worth $973,000 after acquiring an additional 2,759 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new position in Sun Life Financial during the second quarter worth $7,572,000. Institutional investors own 44.96% of the company’s stock.

Sun Life Financial Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Wednesday, November 29th were given a $0.5637 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date was Tuesday, November 28th. Sun Life Financial’s dividend payout ratio is 57.99%.

Sun Life Financial Company Profile

(Get Free Report)

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company provides financial advice, asset management, and investments related products.

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