FY2024 EPS Estimate for Sun Life Financial Cut by Analyst

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Investment analysts at Cormark reduced their FY2024 EPS estimates for shares of Sun Life Financial in a research report issued to clients and investors on Tuesday, February 4th. Cormark analyst L. Persaud now anticipates that the financial services provider will post earnings per share of $4.68 for the year, down from their previous estimate of $4.87. The consensus estimate for Sun Life Financial’s current full-year earnings is $4.80 per share. Cormark also issued estimates for Sun Life Financial’s Q4 2024 earnings at $1.24 EPS and FY2025 earnings at $5.22 EPS.

Several other equities analysts have also commented on the stock. National Bank Financial raised shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 15th. StockNews.com lowered shares of Sun Life Financial from a “buy” rating to a “hold” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Sun Life Financial Stock Performance

SLF stock opened at $57.98 on Thursday. Sun Life Financial has a 52 week low of $46.41 and a 52 week high of $62.85. The firm’s fifty day moving average is $59.37 and its 200 day moving average is $56.77. The firm has a market cap of $36.42 billion, a P/E ratio of 12.91, a P/E/G ratio of 1.57 and a beta of 1.03.

Institutional Investors Weigh In On Sun Life Financial

Several institutional investors and hedge funds have recently modified their holdings of SLF. National Bank of Canada FI lifted its position in shares of Sun Life Financial by 28.2% in the 3rd quarter. National Bank of Canada FI now owns 5,837,298 shares of the financial services provider’s stock worth $338,621,000 after purchasing an additional 1,284,556 shares during the period. CIBC Asset Management Inc lifted its position in Sun Life Financial by 10.8% during the 4th quarter. CIBC Asset Management Inc now owns 7,192,059 shares of the financial services provider’s stock valued at $427,712,000 after acquiring an additional 703,391 shares during the period. The Manufacturers Life Insurance Company lifted its position in Sun Life Financial by 7.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 9,256,384 shares of the financial services provider’s stock valued at $537,288,000 after acquiring an additional 654,404 shares during the period. FMR LLC lifted its position in Sun Life Financial by 5.2% during the 3rd quarter. FMR LLC now owns 5,189,939 shares of the financial services provider’s stock valued at $301,047,000 after acquiring an additional 257,178 shares during the period. Finally, Cardinal Capital Management Inc. lifted its position in Sun Life Financial by 29.1% during the 4th quarter. Cardinal Capital Management Inc. now owns 1,123,354 shares of the financial services provider’s stock valued at $66,550,000 after acquiring an additional 253,488 shares during the period. 52.26% of the stock is owned by hedge funds and other institutional investors.

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.