Sun Life Financial Inc. (NYSE:SLF) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) have earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $98.6667.

Several analysts recently commented on the company. Weiss Ratings raised Sun Life Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, August 31st. Argus boosted their target price on Sun Life Financial from $81.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Evercore downgraded Sun Life Financial from an “outperform” rating to an “in-line” rating in a report on Monday, July 13th. Royal Bank Of Canada raised their price target on Sun Life Financial from $98.00 to $119.00 and gave the stock a “sector perform” rating in a research report on Monday, August 10th. Finally, Wall Street Zen upgraded Sun Life Financial from a “sell” rating to a “hold” rating in a report on Sunday, July 26th.

Sun Life Financial Stock Performance

Shares of NYSE:SLF opened at $80.88 on Friday. The company has a 50 day moving average price of $80.65 and a two-hundred day moving average price of $74.07. The company has a market capitalization of $49.26 billion, a PE ratio of 18.91, a PEG ratio of 2.00 and a beta of 0.87. Sun Life Financial has a 52 week low of $57.22 and a 52 week high of $84.38.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.07. Sun Life Financial had a net margin of 7.66% and a return on equity of 17.96%. The company had revenue of $10.10 billion for the quarter, compared to analysts’ expectations of $994.33 million. On average, sell-side analysts forecast that Sun Life Financial will post 5.74 earnings per share for the current year.

Sun Life Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Wednesday, August 26th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 4.7%. The ex-dividend date is Wednesday, August 26th. Sun Life Financial’s dividend payout ratio (DPR) is 64.02%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SLF. Louisbourg Investments Inc. lifted its stake in shares of Sun Life Financial by 3.0% in the 1st quarter. Louisbourg Investments Inc. now owns 5,105 shares of the financial services provider’s stock valued at $319,000 after purchasing an additional 150 shares during the period. Candriam S.C.A. grew its stake in Sun Life Financial by 1.8% during the first quarter. Candriam S.C.A. now owns 9,794 shares of the financial services provider’s stock worth $612,000 after purchasing an additional 177 shares during the period. HB Wealth Management LLC increased its holdings in Sun Life Financial by 4.7% in the first quarter. HB Wealth Management LLC now owns 4,158 shares of the financial services provider’s stock worth $260,000 after purchasing an additional 187 shares in the last quarter. Sei Investments Co. lifted its stake in Sun Life Financial by 3.5% in the first quarter. Sei Investments Co. now owns 5,788 shares of the financial services provider’s stock valued at $362,000 after buying an additional 196 shares during the period. Finally, Cumberland Partners Ltd lifted its stake in Sun Life Financial by 3.2% in the first quarter. Cumberland Partners Ltd now owns 6,678 shares of the financial services provider’s stock valued at $418,000 after buying an additional 209 shares during the period. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Company Profile

Sun Life Financial Inc is a Canada-based financial services company that provides insurance, wealth, and asset management products to individuals, businesses, and institutions. Its offerings include life, health, and dental insurance; retirement and investment solutions; group benefits; and financial planning services.

Through its asset management operations, Sun Life serves institutional and individual investors with investment management and related advisory services. The company also provides workplace benefit and retirement programs designed to support employers and their employees.

Founded in 1865, Sun Life serves customers in Canada, the United States, the United Kingdom, and several markets in Asia.