National Bank Financial Analysts Boost 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 (EPS) estimates for Sun Life Financial in a note issued to investors on Thursday, April 25th. National Bank Financial analyst G. Dechaine now forecasts that the financial services provider will post earnings per share of $1.20 for the quarter, up from their previous forecast 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.

Separately, Jefferies Financial Group assumed coverage on Sun Life Financial in a research note on Thursday, February 22nd. They issued a “buy” rating for the company.

Sun Life Financial Stock Performance

NYSE:SLF opened at $51.06 on Monday. Sun Life Financial has a 1 year low of $44.57 and a 1 year high of $55.46. The stock has a market cap of $29.74 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 1.28 and a beta of 1.01. The business has a fifty day moving average of $53.32 and a 200-day moving average of $51.41.

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, topping the consensus estimate of $1.17 by $0.06. Sun Life Financial had a return on equity of 17.30% and a net margin of 7.79%. The company had revenue of $13.73 billion during the quarter.

Sun Life Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, February 28th were paid a dividend of $0.581 per share. The ex-dividend date of this dividend was Tuesday, February 27th. 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. Sun Life Financial’s dividend payout ratio (DPR) is currently 59.79%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its position in shares of Sun Life Financial by 8.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 62,541 shares of the financial services provider’s stock valued at $3,052,000 after purchasing an additional 4,963 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Sun Life Financial by 13.5% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 14,368 shares of the financial services provider’s stock valued at $701,000 after purchasing an additional 1,713 shares during the period. Maryland State Retirement & Pension System boosted its position in shares of Sun Life Financial by 3.3% in the 3rd quarter. Maryland State Retirement & Pension System now owns 90,746 shares of the financial services provider’s stock valued at $4,429,000 after purchasing an additional 2,877 shares during the period. Raymond James & Associates boosted its position in shares of Sun Life Financial by 30.3% in the 3rd quarter. Raymond James & Associates now owns 34,839 shares of the financial services provider’s stock valued at $1,700,000 after purchasing an additional 8,103 shares during the period. Finally, Independent Advisor Alliance acquired a new position in shares of Sun Life Financial in the 3rd quarter valued at $608,000. Institutional investors 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.