Sun Life Financial’s (SLF) “In-Line” Rating Reiterated at Evercore

Sun Life Financial (NYSE:SLF) (TSE:SLF)‘s stock had its “in-line” rating reissued by stock analysts at Evercore in a research note issued on Monday, Marketbeat Ratings reports.

SLF has been the topic of a number of other research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Sun Life Financial in a report on Monday, July 6th. BMO Capital Markets restated an “outperform” rating on shares of Sun Life Financial in a research report on Friday, May 8th. Wall Street Zen upgraded shares of Sun Life Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Scotiabank reiterated a “sector perform” rating on shares of Sun Life Financial in a research note on Wednesday, April 29th. Finally, Barclays restated an “underweight” rating on shares of Sun Life Financial in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Sun Life Financial currently has an average rating of “Moderate Buy” and an average price target of $84.67.

Sun Life Financial Price Performance

Shares of NYSE SLF traded down $1.33 during trading on Monday, hitting $78.58. The stock had a trading volume of 110,531 shares, compared to its average volume of 673,248. Sun Life Financial has a 12 month low of $56.22 and a 12 month high of $80.90. The company has a market capitalization of $43.84 billion, a PE ratio of 20.24 and a beta of 0.88. The firm has a fifty day moving average of $74.96 and a two-hundred day moving average of $68.32.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.38 EPS for the quarter, beating the consensus estimate of $1.35 by $0.03. The business had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $925.99 million. Sun Life Financial had a net margin of 7.85% and a return on equity of 17.80%. During the same period in the prior year, the firm earned $1.82 earnings per share. On average, equities analysts expect that Sun Life Financial will post 5.73 earnings per share for the current fiscal year.

Institutional Trading of Sun Life Financial

Several hedge funds have recently bought and sold shares of SLF. Vanguard Group Inc. lifted its position in Sun Life Financial by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 25,884,084 shares of the financial services provider’s stock valued at $1,615,788,000 after purchasing an additional 534,772 shares during the last quarter. Bank of Nova Scotia increased its stake in Sun Life Financial by 14.7% during the first quarter. Bank of Nova Scotia now owns 6,869,280 shares of the financial services provider’s stock worth $430,244,000 after acquiring an additional 878,031 shares during the last quarter. Norges Bank purchased a new stake in Sun Life Financial during the fourth quarter valued at approximately $398,037,000. Geode Capital Management LLC lifted its stake in shares of Sun Life Financial by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 5,529,609 shares of the financial services provider’s stock valued at $353,181,000 after purchasing an additional 347,041 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of Sun Life Financial by 86.6% during the 4th quarter. Morgan Stanley now owns 3,952,646 shares of the financial services provider’s stock valued at $246,645,000 after purchasing an additional 1,834,772 shares during the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Company Profile

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.