Q1 2024 EPS Estimates for Sun Life Financial Inc. (NYSE:SLF) Raised by Analyst

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Investment analysts at Cormark increased their Q1 2024 earnings estimates for shares of Sun Life Financial in a note issued to investors on Thursday, April 25th. Cormark analyst L. Persaud now expects that the financial services provider will post earnings per share of $1.19 for the quarter, up from their previous forecast of $1.18. The consensus estimate for Sun Life Financial’s current full-year earnings is $5.06 per share.

Separately, Jefferies Financial Group began coverage on shares of Sun Life Financial in a research note on Thursday, February 22nd. They set a “buy” rating for the company.

Sun Life Financial Stock Up 0.7 %

Shares of NYSE:SLF opened at $51.67 on Friday. Sun Life Financial has a 52 week low of $44.57 and a 52 week high of $55.46. The stock has a market capitalization of $30.10 billion, a P/E ratio of 13.32, a PEG ratio of 1.27 and a beta of 1.01. The firm has a fifty day simple moving average of $53.44 and a two-hundred day simple moving average of $51.36.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. Sun Life Financial had a net margin of 7.79% and a return on equity of 17.30%. The company had revenue of $13.73 billion for the quarter.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, February 28th were paid a dividend of $0.581 per share. This represents a $2.32 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend was Tuesday, February 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.56. Sun Life Financial’s payout ratio is 59.79%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SLF. Voisard Asset Management Group Inc. acquired a new position in Sun Life Financial during the 4th quarter valued at approximately $26,000. Northwest Financial Advisors acquired a new position in Sun Life Financial during the 4th quarter valued at approximately $29,000. Headinvest LLC acquired a new position in Sun Life Financial during the 3rd quarter valued at approximately $39,000. RIA Advisory Group LLC acquired a new position in Sun Life Financial during the 4th quarter valued at approximately $39,000. Finally, Legacy Financial Group LLC acquired a new position in Sun Life Financial during the 3rd quarter valued at approximately $40,000. Institutional investors own 52.26% of the company’s stock.

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.