Sun Life Financial Inc. (SLF) Sees Large Volume Increase
Sun Life Financial Inc. (NYSE:SLF) saw unusually-strong trading volume on Thursday . Approximately 417,144 shares traded hands during mid-day trading, an increase of 3% from the previous session’s volume of 403,622 shares.The stock last traded at $32.11 and had previously closed at $32.11.
A number of equities research analysts have weighed in on SLF shares. Bank of America Corp. started coverage on Sun Life Financial in a report on Wednesday. They issued an “underperform” rating on the stock. National Bank Financial reaffirmed an “outperform” rating and issued a $47.00 price objective (up previously from $44.00) on shares of Sun Life Financial in a report on Wednesday, May 25th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $46.00 price objective (up previously from $45.00) on shares of Sun Life Financial in a report on Saturday, May 14th. Canaccord Genuity reaffirmed a “buy” rating and issued a $46.00 price objective (down previously from $47.00) on shares of Sun Life Financial in a report on Thursday, August 11th. Finally, Zacks Investment Research raised Sun Life Financial from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $44.33.
The company has a market cap of $19.73 billion and a PE ratio of 12.43. The stock’s 50 day moving average price is $32.43 and its 200-day moving average price is $32.35.
Sun Life Financial (NYSE:SLF) last issued its earnings results on Wednesday, August 10th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.20. The business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same quarter last year, the firm posted $1.00 earnings per share. On average, equities research analysts forecast that Sun Life Financial Inc. will post $2.87 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st will be given a dividend of $0.3074 per share. The ex-dividend date of this dividend is Monday, August 29th. This represents a $1.23 annualized dividend and a dividend yield of 3.82%.
An institutional investor recently raised its position in Sun Life Financial stock. Morgan Stanley raised its stake in shares of Sun Life Financial Inc. (NYSE:SLF) by 15.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 700,801 shares of the company’s stock after buying an additional 92,183 shares during the period. Morgan Stanley owned about 0.11% of Sun Life Financial worth $21,865,000 as of its most recent filing with the SEC.
Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services organization providing a range of protection and wealth products and services. It operates in five segments: Sun Life Financial Canada (SLF Canada), Sun Life Financial United States (SLF U.S.), Sun Life Financial Asset Management (SLF Asset Management), Sun Life Financial Asia (SLF Asia) and Corporate.
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