FY2024 EPS Estimates for Sun Life Financial Inc. Reduced by Analyst (NYSE:SLF)

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Investment analysts at Cormark decreased their FY2024 earnings per share estimates for shares of Sun Life Financial in a research note issued to investors on Thursday, April 25th. Cormark analyst L. Persaud now anticipates that the financial services provider will earn $5.03 per share for the year, down from their previous estimate of $5.16. The consensus estimate for Sun Life Financial’s current full-year earnings is $5.03 per share. Cormark also issued estimates for Sun Life Financial’s FY2025 earnings at $5.37 EPS.

Separately, Jefferies Financial Group began 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 1.1 %

Shares of NYSE SLF opened at $51.06 on Monday. The firm’s 50-day moving average price is $53.32 and its two-hundred day moving average price is $51.41. 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 $29.74 billion, a P/E ratio of 13.16, a P/E/G ratio of 1.28 and a beta of 1.01.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $1.23 EPS for the quarter, topping the consensus estimate 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.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.581 per share. This represents a $2.32 annualized dividend and a yield of 4.55%. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, February 27th. Sun Life Financial’s payout ratio is presently 59.79%.

Institutional Investors Weigh In On Sun Life Financial

Several institutional investors and hedge funds have recently modified their holdings of the business. Voisard Asset Management Group Inc. bought a new stake in Sun Life Financial during the fourth quarter worth about $26,000. Northwest Financial Advisors acquired a new stake in Sun Life Financial in the fourth quarter worth $29,000. Headinvest LLC acquired a new stake in Sun Life Financial in the third quarter worth $39,000. RIA Advisory Group LLC acquired a new stake in shares of Sun Life Financial during the fourth quarter worth $39,000. Finally, Legacy Financial Group LLC acquired a new stake in shares of Sun Life Financial during the third quarter worth $40,000. Institutional investors and hedge funds 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.