Sun Life Financial (NYSE:SLF) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Sun Life Financial (NYSE:SLF) (TSE:SLF) from a sell rating to a hold rating in a research report released on Sunday morning.

Other equities analysts have also issued reports about the stock. National Bank Financial raised shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Friday, April 24th. Evercore downgraded shares of Sun Life Financial from an “outperform” rating to an “in-line” rating in a report on Monday, July 13th. Argus set a $81.00 price target on shares of Sun Life Financial in a research report on Wednesday, June 10th. TD Cowen reissued a “buy” rating on shares of Sun Life Financial in a research note on Thursday, May 7th. Finally, Barclays restated an “underweight” rating on shares of Sun Life Financial in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.67.

Sun Life Financial Stock Performance

SLF opened at $84.09 on Friday. Sun Life Financial has a 52-week low of $56.22 and a 52-week high of $84.38. The firm has a market cap of $46.87 billion, a P/E ratio of 21.67 and a beta of 0.88. The business’s fifty day moving average is $77.34 and its 200-day moving average is $69.89.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. Sun Life Financial had a return on equity of 17.80% and a net margin of 7.85%.The business had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $925.99 million. During the same quarter in the previous year, the firm earned $1.82 earnings per share. On average, research analysts predict that Sun Life Financial will post 5.69 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Wednesday, May 27th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Wednesday, May 27th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.92. Sun Life Financial’s dividend payout ratio is 72.94%.

Hedge Funds Weigh In On Sun Life Financial

A number of institutional investors have recently added to or reduced their stakes in SLF. Cassaday & Co Wealth Management LLC bought a new stake in shares of Sun Life Financial during the first quarter worth $25,000. Cornerstone Planning Group LLC lifted its stake in shares of Sun Life Financial by 68.4% in the 4th quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 167 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new stake in shares of Sun Life Financial during the 4th quarter valued at $30,000. Sittner & Nelson LLC bought a new stake in Sun Life Financial during the 4th quarter worth $33,000. Finally, Scarborough Advisors LLC bought a new stake in Sun Life Financial during the 1st quarter worth $33,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

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.