Sun Life Financial Inc. (NYSE:SLF – Free Report) (TSE:SLF) – Analysts at Cormark dropped their FY2024 earnings per share (EPS) estimates for shares of Sun Life Financial in a research note issued to investors on Wednesday, July 24th. Cormark analyst L. Persaud now expects that the financial services provider will earn $4.83 per share for the year, down from their previous forecast of $4.91. The consensus estimate for Sun Life Financial’s current full-year earnings is $4.81 per share. Cormark also issued estimates for Sun Life Financial’s FY2025 earnings at $5.30 EPS.
Sun Life Financial (NYSE:SLF – Get Free Report) (TSE:SLF) last issued its quarterly earnings data on Thursday, May 9th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.09). The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $7.25 billion. Sun Life Financial had a return on equity of 16.97% and a net margin of 8.94%.
Separately, Argus upgraded Sun Life Financial to a “strong-buy” rating in a report on Monday, June 3rd.
Check Out Our Latest Research Report on SLF
Sun Life Financial Price Performance
Shares of SLF opened at $49.90 on Friday. The stock has a market capitalization of $28.86 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 1.28 and a beta of 0.99. Sun Life Financial has a 1 year low of $44.57 and a 1 year high of $55.46. The business’s 50 day simple moving average is $49.47 and its 200-day simple moving average is $51.53.
Hedge Funds Weigh In On Sun Life Financial
A number of hedge funds and other institutional investors have recently made changes to their positions in SLF. Verdence Capital Advisors LLC boosted its holdings in shares of Sun Life Financial by 1.8% in the 2nd quarter. Verdence Capital Advisors LLC now owns 12,160 shares of the financial services provider’s stock valued at $596,000 after buying an additional 219 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Sun Life Financial by 2.2% in the first quarter. Sequoia Financial Advisors LLC now owns 10,302 shares of the financial services provider’s stock worth $562,000 after purchasing an additional 221 shares during the last quarter. Intrust Bank NA grew its holdings in Sun Life Financial by 5.4% in the fourth quarter. Intrust Bank NA now owns 4,450 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 226 shares during the last quarter. Burney Co. increased its position in shares of Sun Life Financial by 0.3% during the first quarter. Burney Co. now owns 89,252 shares of the financial services provider’s stock worth $4,871,000 after purchasing an additional 238 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Sun Life Financial by 6.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,127 shares of the financial services provider’s stock valued at $214,000 after purchasing an additional 267 shares during the last quarter. Institutional investors own 52.26% of the company’s stock.
Sun Life Financial Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Wednesday, May 29th were given a dividend of $0.588 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.58. The ex-dividend date was Wednesday, May 29th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.71%. Sun Life Financial’s dividend payout ratio is presently 60.10%.
About Sun Life Financial
(Get Free Report)
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.
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