A number of other equities analysts have also recently weighed in on the company. Dundee Securities started coverage on Sun Life Financial in a report on Wednesday, September 21st. They set a buy rating for the company. Zacks Investment Research cut Sun Life Financial from a buy rating to a hold rating in a report on Wednesday, September 14th. Bank of America Corp. started coverage on Sun Life Financial in a report on Wednesday, August 24th. They set an underperform rating for the company. Morgan Stanley reiterated a hold rating on shares of Sun Life Financial in a report on Sunday, August 14th. Finally, TD Securities reiterated a buy rating and set a $47.00 price target on shares of Sun Life Financial in a report on Saturday, August 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $44.33.
Sun Life Financial (NYSE:SLF) traded down 1.38% during mid-day trading on Friday, hitting $32.09. The company had a trading volume of 92,704 shares. Sun Life Financial has a 52-week low of $25.31 and a 52-week high of $35.46. The company has a 50-day moving average price of $31.88 and a 200 day moving average price of $32.75. The company has a market capitalization of $19.67 billion, a P/E ratio of 12.80 and a beta of 1.09.
Sun Life Financial (NYSE:SLF) last issued its earnings results on Wednesday, August 10th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.20. The company earned $6.84 billion during the quarter, compared to analysts’ expectations of $4.92 billion. Sun Life Financial had a return on equity of 11.88% and a net margin of 7.47%. During the same period in the prior year, the business earned $1.00 EPS. On average, analysts forecast that Sun Life Financial will post $2.83 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, August 31st were given a $0.3074 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend was Monday, August 29th. Sun Life Financial’s dividend payout ratio is currently 49.80%.
Several large investors have recently modified their holdings of SLF. Norges Bank acquired a new stake in shares of Sun Life Financial during the fourth quarter valued at $33,997,000. Commonwealth Equity Services Inc raised its stake in shares of Sun Life Financial by 10.7% in the first quarter. Commonwealth Equity Services Inc now owns 43,453 shares of the company’s stock valued at $1,402,000 after buying an additional 4,187 shares during the period. IFP Advisors Inc raised its stake in shares of Sun Life Financial by 26.5% in the first quarter. IFP Advisors Inc now owns 16,041 shares of the company’s stock valued at $518,000 after buying an additional 3,358 shares during the period. NN Investment Partners Holdings N.V. acquired a new stake in shares of Sun Life Financial during the first quarter valued at $1,288,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of Sun Life Financial during the first quarter valued at $178,000. 42.93% of the stock is currently owned by institutional investors and hedge funds.
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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