Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF - Equities researchers at Cormark boosted their Q1 2024 earnings estimates for shares of Sun Life Financial in a note issued to investors on Thursday, April 25th. Cormark analyst L. Persaud now expects that the financial services provider will post earnings per share of $1.19 for the quarter, up from their previous 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 - Get Free Report) TSE: SLF last released its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.06. Sun Life Financial had a net margin of 7.79% and a return on equity of 17.30%. The business had revenue of $13.73 billion for the quarter.
Separately, Jefferies Financial Group began coverage on shares of Sun Life Financial in a research note on Thursday, February 22nd. They set a "buy" rating on the stock.
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Sun Life Financial Stock Up 0.8 %
Sun Life Financial stock traded up $0.38 during midday trading on Friday, hitting $51.71. 419,506 shares of the stock were exchanged, compared to its average volume of 612,203. The company has a fifty day simple moving average of $53.44 and a two-hundred day simple moving average of $51.35. Sun Life Financial has a 52 week low of $44.57 and a 52 week high of $55.46. The stock has a market capitalization of $30.12 billion, a PE ratio of 13.33, a P/E/G ratio of 1.28 and a beta of 1.01.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. lifted its stake in Sun Life Financial by 3.2% in the first quarter. Assenagon Asset Management S.A. now owns 60,128 shares of the financial services provider's stock valued at $3,284,000 after buying an additional 1,841 shares in the last quarter. Global Retirement Partners LLC lifted its stake in Sun Life Financial by 908.0% in the first quarter. Global Retirement Partners LLC now owns 3,921 shares of the financial services provider's stock valued at $214,000 after buying an additional 3,532 shares in the last quarter. PFG Investments LLC bought a new position in Sun Life Financial in the first quarter valued at approximately $295,000. QV Investors Inc. raised its holdings in shares of Sun Life Financial by 1.0% in the first quarter. QV Investors Inc. now owns 1,083,071 shares of the financial services provider's stock valued at $59,154,000 after purchasing an additional 11,207 shares during the last quarter. Finally, Maryland State Retirement & Pension System raised its holdings in shares of Sun Life Financial by 15.6% in the first quarter. Maryland State Retirement & Pension System now owns 89,681 shares of the financial services provider's stock valued at $4,487,000 after purchasing an additional 12,111 shares during the last quarter. Institutional investors own 52.26% of the company's stock.
Sun Life Financial Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, February 28th were paid a $0.581 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $2.32 dividend on an annualized basis and a yield of 4.49%. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.56. Sun Life Financial's payout ratio is presently 59.79%.
Sun Life Financial Company Profile
(
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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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