Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.09, Morningstar.com reports. Sun Life Financial had a net margin of 12.48% and a return on equity of 13.32%. The business had revenue of $8.12 billion for the quarter, compared to analyst estimates of $7.36 billion. During the same period in the prior year, the business posted $0.90 earnings per share. Sun Life Financial’s revenue was down 14.8% compared to the same quarter last year.

Shares of Sun Life Financial (NYSE:SLF) traded up 1.84% during midday trading on Friday, reaching $38.15. 360,553 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $36.91 and a 200-day moving average price of $36.18. Sun Life Financial has a 52-week low of $30.38 and a 52-week high of $40.57. The stock has a market cap of $23.55 billion, a P/E ratio of 11.40 and a beta of 0.88.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Wednesday, August 30th will be paid a $0.3439 dividend. This represents a $1.38 annualized dividend and a yield of 3.67%. The ex-dividend date is Monday, August 28th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.32. Sun Life Financial’s dividend payout ratio is presently 40.06%.

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Sun Life Financial announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 9th that permits the company to repurchase 11,500,000 shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Several equities analysts recently weighed in on SLF shares. Zacks Investment Research upgraded shares of Sun Life Financial from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Tuesday, April 25th. Royal Bank Of Canada upgraded shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating and set a $51.00 price objective on the stock in a report on Wednesday, June 7th. Credit Suisse Group lowered shares of Sun Life Financial from an “outperform” rating to a “neutral” rating in a report on Wednesday, May 10th. ValuEngine upgraded shares of Sun Life Financial from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Finally, BidaskClub upgraded shares of Sun Life Financial from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.83.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Jones Collombin Investment Counsel Inc increased its position in shares of Sun Life Financial by 20.2% in the second quarter. Jones Collombin Investment Counsel Inc now owns 2,826 shares of the financial services provider’s stock worth $101,000 after buying an additional 475 shares during the period. Bronfman E.L. Rothschild L.P. increased its position in shares of Sun Life Financial by 0.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,587 shares of the financial services provider’s stock worth $131,000 after buying an additional 17 shares during the period. Captrust Financial Advisors purchased a new position in shares of Sun Life Financial during the second quarter worth about $162,000. Rational Advisors LLC increased its position in shares of Sun Life Financial by 14.3% in the first quarter. Rational Advisors LLC now owns 4,538 shares of the financial services provider’s stock worth $166,000 after buying an additional 567 shares during the period. Finally, Advisory Services Network LLC purchased a new position in shares of Sun Life Financial during the first quarter worth about $194,000. Hedge funds and other institutional investors own 43.01% 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.

Earnings History for Sun Life Financial (NYSE:SLF)

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