Sun Life Financial Inc. (SLF) Given Average Recommendation of “Hold” by Analysts
Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) has been given a consensus recommendation of “Hold” by the fourteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $47.33.
Several research firms recently issued reports on SLF. BidaskClub upgraded shares of Sun Life Financial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 19th. TD Securities increased their price target 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, August 10th. Zacks Investment Research upgraded shares of Sun Life Financial from a “sell” rating to a “buy” rating and set a $40.00 price target 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. Finally, ValuEngine upgraded shares of Sun Life Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th.
Shares of Sun Life Financial (SLF) traded up 0.76% on Friday, hitting $38.60. The stock had a trading volume of 317,191 shares. Sun Life Financial has a 12-month low of $31.42 and a 12-month high of $40.57. The firm has a market capitalization of $23.69 billion, a P/E ratio of 11.50 and a beta of 0.86. The company has a 50 day moving average of $38.41 and a 200-day moving average of $36.14.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.09. The business had revenue of $8.12 billion for the quarter, compared to analyst estimates of $7.36 billion. Sun Life Financial had a net margin of 12.48% and a return on equity of 13.29%. The firm’s revenue for the quarter was down 14.8% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. Equities analysts predict that Sun Life Financial will post $3.36 EPS for the current fiscal year.
Sun Life Financial announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 9th that authorizes the company to repurchase 11,500,000 outstanding shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Wednesday, August 30th will be given a $0.3439 dividend. The ex-dividend date of this dividend is Monday, August 28th. This represents a $1.38 dividend on an annualized basis and a yield of 3.56%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.32. Sun Life Financial’s dividend payout ratio (DPR) is currently 43.85%.
A number of institutional investors have recently modified their holdings of SLF. Nationwide Fund Advisors boosted its position in 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 valued at $1,161,000 after buying an additional 9,900 shares in the last quarter. Bank of New York Mellon Corp boosted its position in 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 in the last quarter. Comerica Bank boosted its position in 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 in the last quarter. UBS Asset Management Americas Inc. boosted its position in Sun Life Financial by 13.3% in the first quarter. UBS Asset Management Americas Inc. now owns 1,720,171 shares of the financial services provider’s stock valued at $62,634,000 after buying an additional 201,540 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new stake in Sun Life Financial in the first quarter valued at approximately $5,159,000. Hedge funds and other institutional investors own 40.92% of the company’s stock.
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.
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