Sun Life Financial Inc. (NYSE:SLF) to Post FY2023 Earnings of $4.51 Per Share, Cormark Forecasts

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Investment analysts at Cormark increased their FY2023 earnings per share (EPS) estimates for Sun Life Financial in a report released on Tuesday, November 14th. Cormark analyst L. Persaud now anticipates that the financial services provider will earn $4.51 per share for the year, up from their previous forecast of $4.49. The consensus estimate for Sun Life Financial’s current full-year earnings is $4.62 per share. Cormark also issued estimates for Sun Life Financial’s FY2024 earnings at $4.82 EPS.

SLF has been the subject of a number of other research reports. StockNews.com initiated coverage on shares of Sun Life Financial in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Credit Suisse Group decreased their price objective on Sun Life Financial from $79.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, August 10th.

Sun Life Financial Stock Up 0.9 %

NYSE:SLF opened at $50.68 on Friday. The company has a market cap of $29.61 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 1.37 and a beta of 1.01. Sun Life Financial has a twelve month low of $43.53 and a twelve month high of $53.21. The business has a 50 day moving average price of $48.25 and a two-hundred day moving average price of $49.41.

Institutional Trading of Sun Life Financial

A number of hedge funds have recently made changes to their positions in the business. Raymond James & Associates boosted its holdings in shares of Sun Life Financial by 2.0% during the 1st quarter. Raymond James & Associates now owns 31,331 shares of the financial services provider’s stock worth $1,749,000 after buying an additional 614 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Sun Life Financial by 1.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 24,648 shares of the financial services provider’s stock worth $1,376,000 after acquiring an additional 269 shares during the period. American Century Companies Inc. grew its position in shares of Sun Life Financial by 3.5% in the first quarter. American Century Companies Inc. now owns 34,234 shares of the financial services provider’s stock valued at $1,911,000 after purchasing an additional 1,144 shares during the last quarter. Natixis Advisors L.P. increased its stake in shares of Sun Life Financial by 9.4% during the first quarter. Natixis Advisors L.P. now owns 14,075 shares of the financial services provider’s stock worth $786,000 after purchasing an additional 1,207 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in Sun Life Financial in the 1st quarter valued at $67,000. 44.96% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Wednesday, November 29th will be paid a dividend of $0.5637 per share. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $2.25 annualized dividend and a dividend yield of 4.45%. Sun Life Financial’s dividend payout ratio is presently 54.24%.

About Sun Life Financial

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company provides financial advice, asset management, and investments related products.