Sun Life Financial Inc. (SLF) Research Coverage Started at Dundee Securities
Analysts at Dundee Securities began coverage on shares of Sun Life Financial Inc. (NYSE:SLF) in a report issued on Wednesday. The firm set a “buy” rating on the stock.
Other analysts also recently issued reports about the company. Argus reissued a “buy” rating and issued a $37.00 target price on shares of Sun Life Financial in a report on Thursday, June 16th. Canaccord Genuity reaffirmed a “buy” rating and set a $46.00 price objective (down from $47.00) on shares of Sun Life Financial in a research note on Thursday, August 11th. Zacks Investment Research raised Sun Life Financial from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Monday, July 18th. TD Securities reaffirmed a “buy” rating and set a $47.00 price objective on shares of Sun Life Financial in a research note on Saturday, August 13th. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of Sun Life Financial in a research note on Sunday, August 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $44.33.
Sun Life Financial (NYSE:SLF) traded up 0.88% during trading on Wednesday, hitting $32.19. The stock had a trading volume of 102,215 shares. The firm has a market cap of $19.73 billion, a P/E ratio of 12.79 and a beta of 1.15. Sun Life Financial has a 12-month low of $25.31 and a 12-month high of $35.46. The stock’s 50 day moving average price is $31.90 and its 200 day moving average price is $32.70.
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Sun Life Financial (NYSE:SLF) last posted its earnings results on Wednesday, August 10th. The company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.20. Sun Life Financial had a return on equity of 11.88% and a net margin of 7.47%. The business earned $6.84 billion during the quarter, compared to the consensus estimate of $4.92 billion. During the same period in the previous year, the business earned $1.00 EPS. On average, analysts anticipate that Sun Life Financial will post $2.83 EPS for the current fiscal year.
The company also recently declared 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. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend is Monday, August 29th. Sun Life Financial’s dividend payout ratio is currently 49.80%.
Several large investors have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board boosted its stake in Sun Life Financial by 13.8% in the first quarter. Canada Pension Plan Investment Board now owns 389,510 shares of the company’s stock worth $12,618,000 after buying an additional 47,300 shares in the last quarter. Credit Agricole S A raised its stake in Sun Life Financial by 30.4% in the first quarter. Credit Agricole S A now owns 1,369,198 shares of the company’s stock worth $44,185,000 after buying an additional 319,246 shares during the last quarter. AMF Pensionsforsakring AB raised its stake in Sun Life Financial by 26.9% in the first quarter. AMF Pensionsforsakring AB now owns 258,738 shares of the company’s stock worth $8,432,000 after buying an additional 54,817 shares during the last quarter. Aviva PLC raised its stake in Sun Life Financial by 2.4% in the first quarter. Aviva PLC now owns 314,981 shares of the company’s stock worth $10,176,000 after buying an additional 7,493 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. bought a new stake in Sun Life Financial during the first quarter worth about $178,000. Institutional investors and hedge funds own 42.93% of the company’s stock.
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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