Sun Life Financial (NYSE:SLF) Posts Quarterly Earnings Results

Sun Life Financial (NYSE:SLF) (TSE:SLF) issued its quarterly earnings results on Wednesday. The financial services provider reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.02, reports. The firm had revenue of $986.89 million for the quarter, compared to analysts’ expectations of $986.89 million. Sun Life Financial had a return on equity of 17.96% and a net margin of 7.66%.

Sun Life Financial Stock Performance

SLF traded down $8.51 on Thursday, reaching $73.47. The company had a trading volume of 1,015,267 shares, compared to its average volume of 676,843. Sun Life Financial has a 52-week low of $57.22 and a 52-week high of $84.38. The company has a market cap of $40.81 billion, a price-to-earnings ratio of 17.17, a P/E/G ratio of 1.99 and a beta of 0.86. The business has a 50 day simple moving average of $79.42 and a 200 day simple moving average of $73.58.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, November 25th will be paid a C$1.00 dividend. This is an increase from Sun Life Financial’s previous quarterly dividend of C$0.96. This represents a $4.00 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Wednesday, November 25th. Sun Life Financial’s payout ratio is 63.79%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Scotiabank raised shares of Sun Life Financial from a “sector perform” rating to a “sector outperform” rating in a report on Tuesday, October 27th. Barclays reissued an “underweight” rating on shares of Sun Life Financial in a report on Wednesday, October 7th. UBS Group restated a “neutral” rating on shares of Sun Life Financial in a research report on Wednesday, September 2nd. National Bank Financial cut shares of Sun Life Financial from an “outperform” rating to a “sector perform” rating in a report on Thursday. Finally, Royal Bank Of Canada upped their price target on shares of Sun Life Financial from $98.00 to $119.00 and gave the stock a “sector perform” rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Sun Life Financial presently has an average rating of “Moderate Buy” and an average target price of $103.50.

Sun Life Financial News Roundup

Here are the key news stories impacting Sun Life Financial this week:

• Positive Sentiment: Sun Life reported Q3 EPS of $1.47, slightly above the $1.45 consensus, and said underlying EPS grew by double digits. Revenue was in line with estimates, with growth across Canada, Asia, U.S. stop-loss and GreenOak. Sun Life Q3 results
• Positive Sentiment: The board raised the quarterly common dividend by 4 cents, or about 4.1%, to $1.00 per share. The increase signals confidence in cash generation and boosts shareholder income. Dividend announcement
• Positive Sentiment: Sun Life set a target for GreenOak’s fee-related earnings margin of at least 35%, indicating an ambition to improve profitability in that business. GreenOak margin target and dividend
• Negative Sentiment: Reported Q3 profit fell 29%, contrasting with growth in underlying earnings and raising concern about the quality or sustainability of headline results. Q3 profit report
• Negative Sentiment: TD Cowen downgraded Sun Life from Buy to Hold, while National Bank Financial cut its rating from Outperform to Sector Perform. The downgrades may have added pressure despite the earnings beat and dividend increase. TD Cowen downgrade

Sun Life Financial Company Profile

Sun Life Financial Inc (NYSE: SLF) is a Canadian financial services company that provides insurance, wealth, and asset management solutions to individuals, businesses, and institutions. Its offerings include life, health, and dental insurance; retirement and savings products; investment solutions; and employee benefits.

Through its asset management businesses, Sun Life provides investment management and advisory services to institutional and retail clients. The company also offers workplace pension, group insurance, and employee wellness programs, helping employers support the financial security and health of their employees.

Founded in Montreal in 1865, Sun Life serves clients primarily in Canada, the United States, and several Asian markets, including Hong Kong, the Philippines, Indonesia, India, and Vietnam.