Sun Life Financial Inc. (NYSE:SLF) received consensus rating of “Moderate Buy” from brokerages
Sun Life Financial Inc. (NYSE:SLF – received rating) (TSE:SLF) has been assigned a consensus Moderate Buy rating by the 12 analysts covering the stock, reports Marketbeat Ratings. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts covering the stock in the last year is $72.23.
SLF has been the subject of several recent research reports. Desjardins lowered its target price on Sun Life Financial to $73.00 from $77.00 in a report Monday, May 16. TD Securities lowered its target price on Sun Life Financial to $68.00 from $72.00 in a report on Wednesday, June 1st. Barclays began reporting on Sun Life Financial in a report on Thursday June 9th. They placed an “Overweight” rating and a price target of $71.00 on the stock. BMO Capital Markets lowered its price target on Sun Life Financial from C$75.00 to C$72.00 in a research report on Wednesday, June 1st. Finally, StockNews.com began reporting Sun Life Financial in a research report on Thursday, March 31st. They give the company a “hold” rating.
NYSE SLF shares opened at $46.38 on Friday. The stock’s 50-day moving average is $48.16 and the two-hundred-day moving average is $52.59. Sun Life Financial has a 1 year low of $43.80 and a 1 year high of $58.49. The company has a market cap of $27.18 billion, a price-to-earnings ratio of 8.87, a price-to-earnings-to-growth ratio of 1.07 and a beta of 1.06.
Sun Life Financial (NYSE:SLF- received rating) (TSE:SLF) last announced its quarterly results on Wednesday, May 11th. The financial services firm reported earnings per share of $1.14 for the quarter, beating the consensus estimate of $1.11 by $0.03. Sun Life Financial had a return on equity of 13.66% and a net margin of 11.38%. The company had $300.00 million in revenue for the quarter. Analysts expect Sun Life Financial to post 4.77 EPS for the year to date.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Registered investors received a dividend of $0.537 on Wednesday, June 1st. The ex-dividend date was Tuesday May 31st. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.52. That equates to a dividend of $2.15 on an annualized basis and a dividend yield of 4.63%. Sun Life Financial’s payout ratio is 41.68%.
Several hedge funds and other institutional investors recently changed their positions in the stock. Brinker Capital Investments LLC increased its position in Sun Life Financial by 1.4% during the fourth quarter. Brinker Capital Investments LLC now owns 12,828 shares of the financial services firm, valued at $714,000, after purchasing an additional 173 shares during the period. JCIC Asset Management Inc. increased its position in Sun Life Financial shares by 0.8% in the first quarter. JCIC Asset Management Inc. now owns 26,721 shares of the financial services provider, valued at $1,492,000, after purchasing an additional 205 shares during the period. Quadrant Capital Group LLC increased its position in Sun Life Financial shares by 8.9% during the fourth quarter. Quadrant Capital Group LLC now owns 2,735 shares of the financial services firm valued at $152,000 after purchasing an additional 224 shares during the period. Cetera Advisor Networks LLC increased its position in Sun Life Financial by 2.4% during the first quarter. Cetera Advisor Networks LLC now owns 10,835 shares of the financial services provider, valued at $605,000, after purchasing an additional 250 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in shares of Sun Life Financial by 1.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 20,691 shares of the financial services provider, valued at $1,152,000, after purchasing an additional 264 shares during the period. 47.14% of the shares are owned by hedge funds and other institutional investors.
About Sun Life Financial (received rating)
Sun Life Financial Inc, a financial services company, provides insurance, wealth and wealth management solutions to individual and corporate clients worldwide. It offers term and permanent life insurance, as well as personal health, dental, critical illness, long-term care and disability insurance products. The company also offers reinsurance products; investment advice and portfolio management; mutual funds and segregated funds; trust and banking services; Real estate brokerage and appraisal; and commercial banking services.
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