Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) had its target price increased by stock analysts at Morgan Stanley from $52.00 to $53.00 in a research report issued on Thursday. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price points to a potential upside of 32.87% from the stock’s previous close.

Several other brokerages have also recently weighed in on SLF. BidaskClub upgraded Sun Life Financial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 19th. Zacks Investment Research cut Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. TD Securities lifted their price target on Sun Life Financial from $50.00 to $51.00 and gave the company a “hold” rating in a research report on Thursday, August 10th. Bank of America Corporation upgraded Sun Life Financial from an “underperform” rating to a “hold” rating in a research report on Monday, July 10th. Finally, ValuEngine upgraded Sun Life Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. Ten equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Sun Life Financial has a consensus rating of “Hold” and a consensus target price of $49.00.

Sun Life Financial (SLF) traded down 0.25% during mid-day trading on Thursday, hitting $39.79. The stock had a trading volume of 77,853 shares. The company’s 50 day moving average is $38.83 and its 200-day moving average is $36.40. The stock has a market capitalization of $24.42 billion, a P/E ratio of 11.51 and a beta of 0.88. Sun Life Financial has a 52 week low of $32.03 and a 52 week high of $40.57.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.09. The company had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $7.36 billion. Sun Life Financial had a return on equity of 13.29% and a net margin of 12.48%. The firm’s quarterly revenue was down 14.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 earnings per share. On average, analysts expect that Sun Life Financial will post $3.31 EPS for the current fiscal year.

Sun Life Financial declared that its board has approved a stock buyback program on Wednesday, August 9th that allows the company to buyback 11,500,000 shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

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A number of hedge funds have recently modified their holdings of SLF. Jones Collombin Investment Counsel Inc lifted its stake in Sun Life Financial by 20.2% during the second quarter. Jones Collombin Investment Counsel Inc now owns 2,826 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 475 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in Sun Life Financial by 24.8% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,475 shares of the financial services provider’s stock worth $160,000 after purchasing an additional 888 shares during the last quarter. Captrust Financial Advisors bought a new stake in Sun Life Financial during the second quarter worth about $162,000. Tower Research Capital LLC TRC lifted its stake in Sun Life Financial by 147.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,628 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 2,163 shares during the last quarter. Finally, Advisory Services Network LLC lifted its stake in Sun Life Financial by 0.7% during the second quarter. Advisory Services Network LLC now owns 5,338 shares of the financial services provider’s stock worth $191,000 after purchasing an additional 38 shares during the last quarter. 40.90% of the stock is owned by hedge funds and other institutional investors.

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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