Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Research analysts at Desjardins raised their FY2017 EPS estimates for shares of Sun Life Financial in a research report issued on Thursday. Desjardins analyst D. Young now expects that the financial services provider will post earnings per share of $3.16 for the year, up from their prior forecast of $3.09.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.74 by $0.09. Sun Life Financial had a net margin of 12.48% and a return on equity of 13.32%. The business had revenue of $8.12 billion during the quarter, compared to analyst estimates of $7.36 billion. During the same quarter in the previous year, the business posted $0.90 EPS. The company’s quarterly revenue was down 14.8% compared to the same quarter last year.

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Several other research firms have also commented on SLF. TD Securities boosted their price objective on shares of Sun Life Financial from $50.00 to $51.00 and gave the stock a “hold” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Sun Life Financial from a “sell” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Wednesday, July 12th. Bank of America Corporation upgraded shares of Sun Life Financial from an “underperform” rating to a “hold” rating in a research report on Monday, July 10th. BidaskClub upgraded shares of Sun Life Financial from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Finally, ValuEngine upgraded shares of Sun Life Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $45.80.

Shares of Sun Life Financial (NYSE SLF) opened at 38.13 on Monday. The stock has a 50 day moving average of $37.03 and a 200 day moving average of $36.18. The company has a market cap of $23.40 billion, a price-to-earnings ratio of 11.82 and a beta of 0.88. Sun Life Financial has a 12-month low of $30.38 and a 12-month high of $40.57.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. World Asset Management Inc increased its position in shares of Sun Life Financial by 1.4% in the first quarter. World Asset Management Inc now owns 38,192 shares of the financial services provider’s stock valued at $1,396,000 after buying an additional 533 shares during the last quarter. Comerica Bank increased its position in shares of Sun Life Financial by 1.2% in the first quarter. Comerica Bank now owns 42,533 shares of the financial services provider’s stock valued at $1,501,000 after buying an additional 490 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Sun Life Financial by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 1,022,749 shares of the financial services provider’s stock valued at $37,381,000 after buying an additional 29,566 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Sun Life Financial by 0.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,704,781 shares of the financial services provider’s stock valued at $62,230,000 after buying an additional 9,551 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in shares of Sun Life Financial by 3.9% in the first quarter. Great West Life Assurance Co. Can now owns 7,106,558 shares of the financial services provider’s stock valued at $259,051,000 after buying an additional 267,690 shares during the last quarter. 42.95% of the stock is owned by hedge funds and other institutional investors.

Sun Life Financial declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 9th that permits the company to repurchase 11,500,000 shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Wednesday, August 30th will be paid a $0.3439 dividend. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Monday, August 28th. This represents a $1.38 annualized dividend and a yield of 3.61%. Sun Life Financial’s payout ratio is presently 40.06%.

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.

Earnings History and Estimates for Sun Life Financial (NYSE:SLF)

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