Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) was upgraded by stock analysts at Bank of America Corporation from an “underperform” rating to a “hold” rating in a research note issued on Monday.

Several other research firms have also issued reports on SLF. Zacks Investment Research upgraded shares of Sun Life Financial from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Tuesday, April 25th. Credit Suisse Group downgraded shares of Sun Life Financial from an “outperform” rating to a “neutral” rating in a research note on Wednesday, May 10th. Royal Bank Of Canada raised shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating and set a $51.00 target price for the company in a research note on Wednesday, June 7th. BidaskClub raised shares of Sun Life Financial from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Finally, ValuEngine cut shares of Sun Life Financial from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $45.17.

Sun Life Financial (NYSE:SLF) traded up 0.86% during mid-day trading on Monday, reaching $36.46. The company’s stock had a trading volume of 186,456 shares. The stock has a market capitalization of $22.37 billion, a P/E ratio of 11.72 and a beta of 0.87. The stock’s 50 day moving average price is $33.64 and its 200 day moving average price is $36.48. Sun Life Financial has a 1-year low of $30.38 and a 1-year high of $40.57.

The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Wednesday, May 31st were issued a $0.3164 dividend. This represents a $1.27 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Friday, May 26th. Sun Life Financial’s dividend payout ratio (DPR) is presently 41.23%.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Beutel Goodman & Co Ltd. bought a new position in Sun Life Financial during the first quarter valued at $221,905,000. AQR Capital Management LLC boosted its position in Sun Life Financial by 686.8% in the first quarter. AQR Capital Management LLC now owns 1,429,171 shares of the financial services provider’s stock valued at $52,038,000 after buying an additional 1,247,534 shares during the period. Greystone Managed Investments Inc. boosted its position in Sun Life Financial by 562.3% in the first quarter. Greystone Managed Investments Inc. now owns 1,440,844 shares of the financial services provider’s stock valued at $52,462,000 after buying an additional 1,223,285 shares during the period. AGF Investments Inc. boosted its position in Sun Life Financial by 835.2% in the first quarter. AGF Investments Inc. now owns 1,163,929 shares of the financial services provider’s stock valued at $42,452,000 after buying an additional 1,039,472 shares during the period. Finally, Vanguard Group Inc. boosted its position in Sun Life Financial by 4.8% in the first quarter. Vanguard Group Inc. now owns 13,072,396 shares of the financial services provider’s stock valued at $477,796,000 after buying an additional 593,878 shares during the period. Institutional investors own 42.78% of the company’s stock.

About Sun Life Financial

Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services company providing a range of insurance, wealth and asset management solutions to individuals and corporate Clients. It operates through five segments. The Sun Life Financial Canada segment provides retail insurance and investment advice, products and services to people across Canada.

Analyst Recommendations for Sun Life Financial (NYSE:SLF)

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