Sun Life Financial Inc. (NYSE:SLF – Get Rating) (TSE:SLF) – Research analysts at National Bank Financial decreased their Q2 2022 EPS estimates for shares of Sun Life Financial in a research note issued on Monday, July 18th. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will post earnings per share of $1.05 for the quarter, down from their prior estimate of $1.10. The consensus estimate for Sun Life Financial’s current full-year earnings is $4.77 per share. National Bank Financial also issued estimates for Sun Life Financial’s Q3 2022 earnings at $1.11 EPS, Q4 2022 earnings at $1.13 EPS, FY2022 earnings at $4.39 EPS and FY2023 earnings at $4.64 EPS.
Sun Life Financial (NYSE:SLF – Get Rating) (TSE:SLF) last issued its quarterly earnings data on Wednesday, May 11th. The financial services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.03. The firm had revenue of $300.00 million for the quarter. Sun Life Financial had a net margin of 11.38% and a return on equity of 13.66%.
Other analysts have also issued research reports about the company. Scotiabank reduced their target price on Sun Life Financial from C$71.00 to C$67.00 in a report on Friday, May 13th. BMO Capital Markets reduced their target price on Sun Life Financial from C$75.00 to C$72.00 in a report on Wednesday, June 1st. StockNews.com began coverage on Sun Life Financial in a report on Thursday, March 31st. They issued a “hold” rating for the company. Canaccord Genuity Group cut their price objective on Sun Life Financial from C$75.50 to C$67.00 in a report on Sunday, May 15th. Finally, TD Securities cut their price objective on Sun Life Financial from C$72.00 to C$68.00 in a report on Wednesday, June 1st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $72.14.
Sun Life Financial Trading Up 2.9 %
Sun Life Financial stock opened at $44.69 on Wednesday. The stock has a market cap of $26.19 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 1.01 and a beta of 1.05. The company’s 50-day moving average price is $46.88 and its two-hundred day moving average price is $51.76. Sun Life Financial has a 52 week low of $42.83 and a 52 week high of $58.49.
Institutional Trading of Sun Life Financial
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Paragon Capital Management Ltd bought a new position in Sun Life Financial in the fourth quarter valued at about $26,000. Tcwp LLC bought a new position in Sun Life Financial during the first quarter worth about $27,000. AdvisorNet Financial Inc boosted its holdings in Sun Life Financial by 149.5% during the first quarter. AdvisorNet Financial Inc now owns 499 shares of the financial services provider’s stock worth $28,000 after buying an additional 299 shares during the last quarter. Mark Sheptoff Financial Planning LLC bought a new position in shares of Sun Life Financial during the 1st quarter valued at about $30,000. Finally, Achmea Investment Management B.V. bought a new position in shares of Sun Life Financial during the 1st quarter valued at about $32,000. 47.14% of the stock is currently owned by institutional investors and hedge funds.
Sun Life Financial Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 1st were paid a $0.537 dividend. The ex-dividend date of this dividend was Tuesday, May 31st. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.52. This represents a $2.15 dividend on an annualized basis and a dividend yield of 4.81%. Sun Life Financial’s dividend payout ratio (DPR) is 41.68%.
About Sun Life Financial
Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company also provides reinsurance products; investment counselling and portfolio management services; mutual funds and segregated funds; trust and banking services; real estate property brokerage and appraisal services; and merchant banking services.
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