A number of other research analysts have also issued reports on the stock. Argus reissued a buy rating and set a $37.00 target price on shares of Sun Life Financial in a research note on Thursday, June 16th. Morgan Stanley reissued a hold rating on shares of Sun Life Financial in a research note on Sunday, August 14th. Scotiabank reissued an outperform rating and set a $46.00 target price (down from $48.00) on shares of Sun Life Financial in a research note on Saturday, August 13th. TD Securities reissued a buy rating and set a $47.00 target price on shares of Sun Life Financial in a research note on Saturday, August 13th. Finally, Zacks Investment Research raised shares of Sun Life Financial from a hold rating to a buy rating and set a $37.00 target price for the company in a research note on Monday, July 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $44.33.
Shares of Sun Life Financial (NYSE:SLF) opened at 31.70 on Wednesday. The firm has a market capitalization of $19.43 billion, a price-to-earnings ratio of 12.63 and a beta of 1.15. The stock has a 50 day moving average of $31.89 and a 200 day moving average of $32.75. Sun Life Financial has a 52-week low of $25.31 and a 52-week high of $35.46.
Sun Life Financial (NYSE:SLF) last posted its quarterly earnings results on Wednesday, August 10th. The company reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.20. Sun Life Financial had a net margin of 7.47% and a return on equity of 11.88%. The business earned $6.84 billion during the quarter, compared to analyst estimates of $4.92 billion. During the same period in the previous year, the business posted $1.00 EPS. On average, analysts predict that Sun Life Financial will post $2.85 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Wednesday, August 31st will be issued a $0.3074 dividend. The ex-dividend date of this dividend is Monday, August 29th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.88%. Sun Life Financial’s payout ratio is currently 49.80%.
Several hedge funds have recently added to or reduced their stakes in SLF. Americafirst Capital Management LLC acquired a new stake in Sun Life Financial during the second quarter worth approximately $110,000. Cribstone Capital Management LLC purchased a new position in Sun Life Financial during the second quarter valued at $147,000. Advisory Services Network LLC increased its position in Sun Life Financial by 0.8% in the second quarter. Advisory Services Network LLC now owns 4,951 shares of the company’s stock valued at $163,000 after buying an additional 39 shares during the period. Glenmede Trust Co. NA increased its position in Sun Life Financial by 4.1% in the second quarter. Glenmede Trust Co. NA now owns 5,332 shares of the company’s stock valued at $174,000 after buying an additional 209 shares during the period. Finally, C M Bidwell & Associates Ltd. purchased a new position in Sun Life Financial during the first quarter valued at $178,000. Institutional investors and hedge funds own 42.93% of the company’s stock.
Sun Life Financial Company Profile
Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services organization providing a range of protection and wealth products and services. It operates in five segments: Sun Life Financial Canada (SLF Canada), Sun Life Financial United States (SLF U.S.), Sun Life Financial Asset Management (SLF Asset Management), Sun Life Financial Asia (SLF Asia) and Corporate.
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