Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) – Equities researchers at Desjardins issued their Q1 2019 EPS estimates for shares of Sun Life Financial in a note issued to investors on Monday, April 15th. Desjardins analyst D. Young expects that the financial services provider will post earnings of $0.89 per share for the quarter. Desjardins also issued estimates for Sun Life Financial’s Q2 2019 earnings at $0.92 EPS, Q3 2019 earnings at $0.95 EPS, Q4 2019 earnings at $0.94 EPS, FY2019 earnings at $3.68 EPS and FY2020 earnings at $4.00 EPS.
SLF has been the subject of several other reports. Zacks Investment Research cut shares of Sun Life Financial from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Argus raised shares of Sun Life Financial from a “hold” rating to a “buy” rating in a report on Monday, December 31st. They noted that the move was a valuation call. Scotiabank cut shares of Sun Life Financial from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, February 6th. CIBC reissued an “average” rating and set a $53.00 price target on shares of Sun Life Financial in a report on Thursday, December 20th. Finally, ValuEngine raised shares of Sun Life Financial from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $51.25.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Wednesday, February 13th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.32. The firm had revenue of $8.18 billion during the quarter, compared to analysts’ expectations of $6.28 billion. Sun Life Financial had a net margin of 9.71% and a return on equity of 13.83%. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 earnings per share.
A number of institutional investors have recently modified their holdings of SLF. Norges Bank purchased a new position in Sun Life Financial in the fourth quarter valued at about $156,689,000. Mackenzie Financial Corp increased its holdings in Sun Life Financial by 53.2% in the fourth quarter. Mackenzie Financial Corp now owns 8,668,680 shares of the financial services provider’s stock valued at $287,713,000 after buying an additional 3,009,510 shares in the last quarter. Beutel Goodman & Co Ltd. increased its holdings in Sun Life Financial by 10.7% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 12,832,665 shares of the financial services provider’s stock valued at $42,584,000 after buying an additional 1,236,389 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Sun Life Financial by 285.9% in the third quarter. JPMorgan Chase & Co. now owns 1,119,946 shares of the financial services provider’s stock valued at $44,529,000 after buying an additional 829,711 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. increased its holdings in Sun Life Financial by 9.7% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 8,539,210 shares of the financial services provider’s stock valued at $283,161,000 after buying an additional 755,590 shares in the last quarter. 41.23% of the stock is owned by institutional investors.
The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were issued a $0.381 dividend. The ex-dividend date was Thursday, February 28th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.38. This represents a $1.52 dividend on an annualized basis and a yield of 3.79%. Sun Life Financial’s dividend payout ratio (DPR) is 40.53%.
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. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.
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