Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) has been assigned an average recommendation of “Hold” from the sixteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $46.00.

Several analysts recently commented on SLF shares. Zacks Investment Research raised Sun Life Financial from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Tuesday, April 25th. Credit Suisse Group lowered Sun Life Financial from an “outperform” rating to a “neutral” rating in a report on Wednesday, May 10th. Royal Bank Of Canada raised Sun Life Financial from a “sector perform” rating to an “outperform” rating and set a $51.00 target price on the stock in a report on Wednesday, June 7th. ValuEngine raised Sun Life Financial from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Finally, BidaskClub raised Sun Life Financial from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th.

Several hedge funds have recently modified their holdings of SLF. Wetherby Asset Management Inc. raised its stake in shares of Sun Life Financial by 7.1% in the first quarter. Wetherby Asset Management Inc. now owns 7,456 shares of the financial services provider’s stock worth $273,000 after buying an additional 496 shares in the last quarter. Pegasus Partners Ltd. raised its stake in shares of Sun Life Financial by 0.6% in the first quarter. Pegasus Partners Ltd. now owns 36,754 shares of the financial services provider’s stock worth $1,343,000 after buying an additional 208 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Sun Life Financial by 5.6% in the first quarter. Russell Investments Group Ltd. now owns 1,093,436 shares of the financial services provider’s stock worth $39,813,000 after buying an additional 57,981 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co raised its stake in shares of Sun Life Financial by 1.5% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 36,395 shares of the financial services provider’s stock worth $1,328,000 after buying an additional 526 shares in the last quarter. Finally, Nationwide Fund Advisors raised its stake in shares of Sun Life Financial by 45.3% in the first quarter. Nationwide Fund Advisors now owns 31,755 shares of the financial services provider’s stock worth $1,161,000 after buying an additional 9,900 shares in the last quarter. 42.80% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Sun Life Financial (SLF) traded up 0.34% on Friday, hitting $38.11. The company had a trading volume of 115,935 shares. The company has a market capitalization of $23.39 billion, a price-to-earnings ratio of 11.91 and a beta of 0.87. The stock’s 50-day moving average is $35.73 and its 200 day moving average is $36.25. Sun Life Financial has a 52 week low of $30.38 and a 52 week high of $40.57.

The company also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Wednesday, May 31st were paid a $0.3164 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend was Friday, May 26th. Sun Life Financial’s dividend payout ratio is presently 41.23%.

Sun Life Financial Company Profile

Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services company providing a range of insurance, wealth and asset management solutions to individuals and corporate Clients. It operates through five segments. The Sun Life Financial Canada segment provides retail insurance and investment advice, products and services to people across Canada.

Analyst Recommendations for Sun Life Financial (NYSE:SLF)

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