Sun Life Financial Receives “Neutral” Rating from Zacks (SLF)
Sun Life Financial (NYSE:SLF)‘s stock had its “neutral” rating restated by Zacks in a note issued to investors on Wednesday, AnalystRatings.Net reports. They currently have a $37.00 price target on the stock. Zacks‘ target price would indicate a potential upside of 3.90% from the company’s current price.
Zacks‘ analyst wrote, “Sun Life Financial’s fourth quarter earnings doubled year over year boosted by business growth, positive capital market impacts and management action to optimize value from the company’s closed block of life insurance in the U.S. The company has been performing strongly over the past several quarters and we expect the trend to continue given its diversified business profile. Though headquartered in Canada, the insurer has a significant presence in the U.S., and is also growing aggressively in Asia. The company has been aggressively re-designing its products, reducing interest rate and market risk, improving pricing, and focusing on higher growth and return segments. Further, its alignment of product mix in the U.S. and thrust on enhancing the highly profitable global asset management business is expected to drive long-term earnings growth. Nevertheless, the company will continue facing earnings pressure due to headwinds such as the ongoing macro and regulatory uncertainties, and growing expenses. We thus maintain our Neutral recommendation on Sun Life. “
Shares of Sun Life Financial (NYSE:SLF) traded up 0.14% on Wednesday, hitting $35.66. The stock had a trading volume of 138,047 shares. Sun Life Financial has a 52 week low of $25.54 and a 52 week high of $36.33. The stock has a 50-day moving average of $34.02 and a 200-day moving average of $33.39. The company has a market cap of $21.731 billion and a P/E ratio of 22.54.
The company also recently declared a quarterly dividend, which is scheduled for Monday, March 31st. Investors of record on Friday, February 28th will be given a dividend of $0.3263 per share. This represents a $1.31 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Wednesday, February 26th.
A number of other analysts have also recently weighed in on SLF. Analysts at Scotiabank upgraded shares of Sun Life Financial to a “sector perform” rating in a research note on Thursday, February 13th. Separately, analysts at RBC Capital initiated coverage on shares of Sun Life Financial in a research note on Friday, January 3rd. They set a “sector perform” rating and a $36.00 price target on the stock. Finally, analysts at Desjardins initiated coverage on shares of Sun Life Financial in a research note on Thursday, December 12th. They set a “buy” rating on the stock. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $35.80.
Sun Life Financial Inc (NYSE:SLF) is the holding company of Sun Life Assurance Company of Canada (Sun Life Assurance).
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