Sun Life Financial Inc. (NYSE:SLF) has earned an average recommendation of “Buy” from the sixteen ratings firms that are currently covering the stock. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $44.90.
SLF has been the subject of several research reports. Zacks Investment Research cut shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, September 14th. Scotiabank restated an “outperform” rating and set a $46.00 price objective (down from $48.00) on shares of Sun Life Financial in a research note on Saturday, August 13th. Argus restated a “buy” rating and set a $37.00 price objective on shares of Sun Life Financial in a research note on Friday, September 30th. Morgan Stanley reiterated a “hold” rating on shares of Sun Life Financial in a research note on Sunday, August 14th. Finally, TD Securities reiterated a “buy” rating and issued a $47.00 target price on shares of Sun Life Financial in a research note on Saturday, August 13th.
Large investors have recently added to or reduced their stakes in the company. TD Asset Management Inc. raised its stake in Sun Life Financial by 6.4% in the second quarter. TD Asset Management Inc. now owns 19,888,439 shares of the company’s stock worth $649,931,000 after buying an additional 1,195,515 shares during the last quarter. Vanguard Group Inc. raised its stake in Sun Life Financial by 12.1% in the second quarter. Vanguard Group Inc. now owns 11,618,189 shares of the company’s stock worth $381,425,000 after buying an additional 1,257,170 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in Sun Life Financial during the second quarter worth about $121,640,000. Swiss National Bank raised its stake in Sun Life Financial by 3.7% in the second quarter. Swiss National Bank now owns 3,464,400 shares of the company’s stock worth $113,247,000 after buying an additional 124,900 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Sun Life Financial by 0.3% in the second quarter. Legal & General Group Plc now owns 2,831,258 shares of the company’s stock worth $92,509,000 after buying an additional 8,552 shares during the last quarter. 42.93% of the stock is owned by institutional investors and hedge funds.
Sun Life Financial (NYSE:SLF) opened at 32.62 on Friday. The company has a market cap of $19.99 billion, a price-to-earnings ratio of 13.02 and a beta of 1.09. Sun Life Financial has a 52-week low of $25.31 and a 52-week high of $35.46. The firm’s 50-day moving average is $31.98 and its 200 day moving average is $32.80.
Sun Life Financial (NYSE:SLF) last announced its quarterly earnings data on Wednesday, August 10th. The company reported $0.90 EPS for the quarter, beating the 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 analysts’ expectations of $4.92 billion. During the same period in the previous year, the business posted $1.00 EPS. On average, equities research analysts predict that Sun Life Financial will post $2.82 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.3074 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date was Monday, August 29th. Sun Life Financial’s payout ratio is 49.80%.
About Sun Life Financial
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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