Q4 EPS Estimates for Sun Life Financial Raised by Desjardins

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Investment analysts at Desjardins upped their Q4 2024 earnings per share estimates for shares of Sun Life Financial in a research note issued to investors on Tuesday, November 5th. Desjardins analyst D. Young now anticipates 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 $4.87 per share.

A number of other research analysts have also recently commented on SLF. Barclays began 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 upgraded shares of Sun Life Financial from a “hold” rating to a “buy” rating in a report on Wednesday.

Sun Life Financial Stock Down 0.6 %

NYSE SLF opened at $59.24 on Thursday. Sun Life Financial has a fifty-two week low of $46.41 and a fifty-two week high of $59.81. The business has a 50 day moving average price of $56.82 and a two-hundred day moving average price of $52.59. The stock has a market cap of $37.33 billion, a PE ratio of 13.19, a P/E/G ratio of 1.51 and a beta of 1.01.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Monday, August 12th. The financial services provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. The company had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.72 billion. Sun Life Financial had a return on equity of 17.44% and a net margin of 7.32%.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 yield of 4.19%. The ex-dividend date is Wednesday, November 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.59. Sun Life Financial’s dividend payout ratio (DPR) is 52.34%.

Hedge Funds Weigh In On Sun Life Financial

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in shares of Sun Life Financial by 6,244.4% in the second 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 last quarter. Assetmark Inc. grew its holdings in Sun Life Financial by 2,747.4% during the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 522 shares in the last quarter. Addison Advisors LLC increased its position in shares of Sun Life Financial by 124.9% in the 3rd 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 acquired a new stake in shares of Sun Life Financial in the 2nd quarter valued at about $39,000. Finally, Clean Yield Group bought a new position in shares of Sun Life Financial during the third quarter worth about $39,000. 52.26% of the stock is owned by institutional investors and hedge funds.

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.