SLF FY2024 EPS Forecast Raised by National Bank Financial

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Analysts at National Bank Financial raised their FY2024 earnings per share (EPS) estimates for Sun Life Financial in a research note issued to investors on Monday, November 4th. National Bank Financial analyst G. Dechaine now forecasts that the financial services provider will post earnings per share of $4.86 for the year, up from their prior estimate of $4.80. The consensus estimate for Sun Life Financial’s current full-year earnings is $4.86 per share. National Bank Financial also issued estimates for Sun Life Financial’s Q4 2024 earnings at $1.30 EPS and FY2025 earnings at $5.41 EPS.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings data on Monday, August 12th. The financial services provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.72 billion.

Several other research firms have also weighed in on SLF. StockNews.com raised shares of Sun Life Financial from a “hold” rating to a “buy” rating in a research note on Wednesday. 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.

Sun Life Financial Stock Performance

Shares of Sun Life Financial stock opened at $59.62 on Thursday. The firm has a fifty day moving average of $56.62 and a two-hundred day moving average of $52.48. The stock has a market capitalization of $37.57 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.43 and a beta of 1.01. Sun Life Financial has a 52 week low of $46.41 and a 52 week high of $59.81.

Institutional Investors Weigh In On Sun Life Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Natixis Advisors LLC increased its position in Sun Life Financial by 13.3% during the third quarter. Natixis Advisors LLC now owns 43,246 shares of the financial services provider’s stock worth $2,509,000 after buying an additional 5,086 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Sun Life Financial by 1.3% during the 3rd quarter. CIBC Asset Management Inc now owns 6,488,668 shares of the financial services provider’s stock worth $377,311,000 after acquiring an additional 81,261 shares during the last quarter. Plato Investment Management Ltd bought a new stake in Sun Life Financial in the 3rd quarter valued at $101,000. Entropy Technologies LP acquired a new stake in Sun Life Financial during the 3rd quarter valued at $788,000. Finally, Addison Advisors LLC boosted its position 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 period. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Increases Dividend

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

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.