Sun Life Financial (NYSE:SLF) Issues Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Sun Life Financial (NYSE:SLF) (TSE:SLF) issued its quarterly earnings results on Wednesday. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.06, Zacks reports. The business had revenue of $973.53 million for the quarter, compared to the consensus estimate of $973.53 million. Sun Life Financial had a net margin of 8.48% and a return on equity of 17.58%. During the same quarter in the prior year, the company earned $1.68 EPS.

Sun Life Financial Stock Up 0.5%

Shares of NYSE SLF traded up $0.33 during midday trading on Friday, hitting $69.09. 390,699 shares of the company’s stock were exchanged, compared to its average volume of 526,349. Sun Life Financial has a 12 month low of $52.44 and a 12 month high of $69.67. The firm has a market capitalization of $38.26 billion, a PE ratio of 15.70 and a beta of 0.88. The company’s 50 day moving average price is $62.61 and its 200 day moving average price is $60.66.

Sun Life Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, February 25th will be paid a $0.92 dividend. The ex-dividend date is Wednesday, February 25th. This represents a $3.68 annualized dividend and a yield of 5.3%. Sun Life Financial’s dividend payout ratio is currently 69.68%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. TD Securities reaffirmed a “buy” rating on shares of Sun Life Financial in a research note on Thursday. Scotiabank reaffirmed a “sector perform” rating on shares of Sun Life Financial in a report on Thursday, February 5th. UBS Group began coverage on Sun Life Financial in a research note on Thursday, October 16th. They issued a “neutral” rating on the stock. National Bank Financial reiterated a “sector perform” rating on shares of Sun Life Financial in a report on Thursday, November 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Sun Life Financial in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $86.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Vontobel Holding Ltd. raised its position in shares of Sun Life Financial by 6.1% in the fourth quarter. Vontobel Holding Ltd. now owns 5,625 shares of the financial services provider’s stock valued at $351,000 after buying an additional 325 shares in the last quarter. Cerity Partners LLC raised its holdings in Sun Life Financial by 1.4% in the 2nd quarter. Cerity Partners LLC now owns 25,231 shares of the financial services provider’s stock valued at $1,677,000 after acquiring an additional 342 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of Sun Life Financial during the 4th quarter valued at $30,000. Vise Technologies Inc. grew its holdings in shares of Sun Life Financial by 4.4% during the 3rd quarter. Vise Technologies Inc. now owns 14,536 shares of the financial services provider’s stock worth $873,000 after purchasing an additional 607 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Sun Life Financial by 66.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,734 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 692 shares during the period. Institutional investors and hedge funds own 52.26% of the company’s stock.

About Sun Life Financial

Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.

Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.