National Bank Financial Analysts Increase Earnings Estimates for Sun Life Financial Inc. (NYSE:SLF)

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Stock analysts at National Bank Financial upped their Q1 2024 earnings per share estimates for shares of Sun Life Financial in a research note issued on Thursday, April 25th. National Bank Financial analyst G. Dechaine now forecasts that the financial services provider will post earnings of $1.20 per share for the quarter, up from their previous estimate of $1.19. The consensus estimate for Sun Life Financial’s current full-year earnings is $5.03 per share. National Bank Financial also issued estimates for Sun Life Financial’s Q2 2024 earnings at $1.21 EPS, Q4 2024 earnings at $1.28 EPS, FY2024 earnings at $4.97 EPS and FY2025 earnings at $5.39 EPS.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released 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 business had revenue of $13.73 billion for the quarter.

Separately, Jefferies Financial Group initiated coverage on Sun Life Financial in a report on Thursday, February 22nd. They set a “buy” rating on the stock.

Sun Life Financial Stock Down 0.1 %

Shares of NYSE:SLF opened at $51.62 on Monday. The company’s fifty day moving average is $53.39 and its two-hundred day moving average is $51.39. The company has a market cap of $30.07 billion, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 1.28 and a beta of 1.01. Sun Life Financial has a 12-month low of $44.57 and a 12-month high of $55.46.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Voisard Asset Management Group Inc. purchased a new stake in Sun Life Financial in the 4th quarter worth approximately $26,000. Northwest Financial Advisors acquired a new position in shares of Sun Life Financial in the fourth quarter worth $29,000. RIA Advisory Group LLC purchased a new stake in shares of Sun Life Financial during the fourth quarter worth $39,000. Private Wealth Management Group LLC acquired a new stake in Sun Life Financial during the fourth quarter valued at $41,000. Finally, Legacy Financial Group LLC purchased a new position in Sun Life Financial in the third quarter valued at about $40,000. 52.26% of the stock is owned by hedge funds and other institutional investors.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, February 28th were issued a dividend of $0.581 per share. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.56. This represents a $2.32 annualized dividend and a dividend yield of 4.50%. The ex-dividend date was Tuesday, February 27th. Sun Life Financial’s dividend payout ratio (DPR) is currently 59.79%.

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.