Desjardins Raises Earnings Estimates for Sun Life Financial

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Investment analysts at Desjardins increased their Q4 2024 earnings per share estimates for Sun Life Financial in a report released on Tuesday, November 5th. Desjardins analyst D. Young now expects that the financial services provider will earn $1.28 per share for the quarter, up from their previous estimate of $1.27. The consensus estimate for Sun Life Financial’s current full-year earnings is $4.86 per share.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Monday, August 12th. The financial services provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. Sun Life Financial had a return on equity of 17.68% and a net margin of 7.32%. The business had revenue of $6.52 billion for the quarter, compared to analysts’ expectations of $6.72 billion.

A number of other brokerages have also recently commented on SLF. Barclays started coverage on shares of Sun Life Financial in a research report on Thursday, September 5th. They set an “equal weight” rating on the stock. StockNews.com raised Sun Life Financial from a “hold” rating to a “buy” rating in a research note on Wednesday.

Sun Life Financial Stock Performance

NYSE:SLF opened at $59.62 on Thursday. Sun Life Financial has a 52 week low of $46.41 and a 52 week high of $59.81. The firm’s fifty day moving average is $56.62 and its 200-day moving average is $52.48. The firm has a market cap of $37.57 billion, a P/E ratio of 13.23, a P/E/G ratio of 1.43 and a beta of 1.01.

Sun Life Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be paid a dividend of $0.621 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. This represents a $2.48 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend is Wednesday, November 27th. Sun Life Financial’s dividend payout ratio is 52.34%.

Hedge Funds Weigh In On Sun Life Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in Sun Life Financial by 6,244.4% in the 2nd quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after buying an additional 562 shares during the period. Assetmark Inc. raised its position in Sun Life Financial by 2,747.4% during the third quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 522 shares in the last quarter. Addison Advisors LLC lifted its stake in Sun Life Financial by 124.9% during the third quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 361 shares during the last quarter. Ridgewood Investments LLC bought a new position in shares of Sun Life Financial during the 2nd quarter valued at about $39,000. Finally, Clean Yield Group purchased a new position in shares of Sun Life Financial during the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

About Sun Life Financial

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.