Sun Life Financial Inc. (SLF) Research Coverage Started at Dundee Securities
Research analysts at Dundee Securities started coverage on shares of Sun Life Financial Inc. (NYSE:SLF) in a research report issued on Wednesday. The brokerage set a “buy” rating on the stock.
A number of other equities analysts also recently weighed in on the stock. Argus reissued a “buy” rating and issued a $37.00 price target on shares of Sun Life Financial in a report on Thursday, June 16th. Canaccord Genuity reissued a “buy” rating and issued a $46.00 price target (down from $47.00) on shares of Sun Life Financial in a report on Thursday, August 11th. Zacks Investment Research raised shares of Sun Life Financial from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Monday, July 18th. TD Securities reissued a “buy” rating and issued a $47.00 price target on shares of Sun Life Financial in a report on Saturday, August 13th. Finally, Morgan Stanley reissued a “hold” rating on shares of Sun Life Financial in a report on Sunday, August 14th. One 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 company presently has a consensus rating of “Buy” and an average target price of $44.33.
Shares of Sun Life Financial (NYSE:SLF) opened at 31.91 on Wednesday. The firm’s 50-day moving average is $31.90 and its 200-day moving average is $32.70. Sun Life Financial has a 52 week low of $25.31 and a 52 week high of $35.46. The firm has a market capitalization of $19.56 billion, a P/E ratio of 12.68 and a beta of 1.15.
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Sun Life Financial (NYSE:SLF) last posted its quarterly earnings data on Wednesday, August 10th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.20. The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $4.92 billion. Sun Life Financial had a net margin of 7.47% and a return on equity of 11.88%. During the same period in the previous year, the firm earned $1.00 EPS. Equities analysts anticipate that Sun Life Financial will post $2.83 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Wednesday, August 31st will be given a $0.3074 dividend. This represents a $1.23 annualized dividend and a dividend yield of 3.85%. The ex-dividend date is Monday, August 29th. Sun Life Financial’s dividend payout ratio (DPR) is 49.80%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Lincluden Management Ltd. boosted its position in Sun Life Financial by 15.8% in the second quarter. Lincluden Management Ltd. now owns 653,944 shares of the company’s stock valued at $21,474,000 after buying an additional 89,135 shares during the period. Janney Montgomery Scott LLC boosted its position in Sun Life Financial by 89.0% in the second quarter. Janney Montgomery Scott LLC now owns 19,925 shares of the company’s stock valued at $637,000 after buying an additional 9,384 shares during the period. Credit Agricole S A boosted its position 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 valued at $44,185,000 after buying an additional 319,246 shares during the period. AXA boosted its position in Sun Life Financial by 269.6% in the first quarter. AXA now owns 29,200 shares of the company’s stock valued at $946,000 after buying an additional 21,300 shares during the period. Finally, Prudential PLC boosted its position in Sun Life Financial by 2.4% in the first quarter. Prudential PLC now owns 330,303 shares of the company’s stock valued at $10,659,000 after buying an additional 7,726 shares during the period. Institutional investors 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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