Sun Life Financial Inc. (NYSE:SLF) to Post Q1 2024 Earnings of $1.19 Per Share, Cormark Forecasts

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Equities research analysts at Cormark increased their Q1 2024 earnings per share (EPS) estimates for Sun Life Financial in a research report issued to clients and investors on Thursday, April 25th. Cormark analyst L. Persaud now forecasts that the financial services provider will earn $1.19 per share for the quarter, up from their prior forecast of $1.18. The consensus estimate for Sun Life Financial’s current full-year earnings is $5.06 per share.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Wednesday, February 7th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.06. The company had revenue of $13.73 billion during the quarter. Sun Life Financial had a return on equity of 17.30% and a net margin of 7.79%.

Separately, Jefferies Financial Group initiated coverage on shares of Sun Life Financial in a report on Thursday, February 22nd. They set a “buy” rating for the company.

Sun Life Financial Trading Down 0.8 %

Sun Life Financial stock opened at $51.30 on Friday. The stock has a market cap of $29.88 billion, a P/E ratio of 13.22, a PEG ratio of 1.28 and a beta of 1.01. The company has a 50-day moving average price of $53.48 and a 200 day moving average price of $51.32. Sun Life Financial has a 12-month low of $44.57 and a 12-month high of $55.46.

Institutional Trading of Sun Life Financial

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Intrust Bank NA boosted its stake in Sun Life Financial by 5.4% during the fourth quarter. Intrust Bank NA now owns 4,450 shares of the financial services provider’s stock worth $231,000 after buying an additional 226 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Sun Life Financial by 6.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,127 shares of the financial services provider’s stock worth $214,000 after buying an additional 267 shares during the period. First Affirmative Financial Network boosted its stake in Sun Life Financial by 6.4% during the fourth quarter. First Affirmative Financial Network now owns 5,270 shares of the financial services provider’s stock worth $273,000 after buying an additional 318 shares during the period. Advisory Resource Group boosted its stake in Sun Life Financial by 2.4% during the fourth quarter. Advisory Resource Group now owns 13,792 shares of the financial services provider’s stock worth $715,000 after buying an additional 329 shares during the period. Finally, Signaturefd LLC boosted its stake in Sun Life Financial by 1.9% during the fourth quarter. Signaturefd LLC now owns 22,365 shares of the financial services provider’s stock worth $1,160,000 after buying an additional 414 shares during the period. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, February 28th were given a dividend of $0.581 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.53%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, February 27th. Sun Life Financial’s dividend payout ratio (DPR) is presently 59.79%.

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.