Sun Life Financial Inc. (SLF) Given Consensus Rating of “Hold” by Brokerages
Shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) have earned an average rating of “Hold” from the fourteen analysts that are covering the firm, Marketbeat.com reports. Nine analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $50.00.
Several research firms recently commented on SLF. BidaskClub upgraded shares of Sun Life Financial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 19th. Zacks Investment Research lowered shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. Morgan Stanley upped their price target on shares of Sun Life Financial from $52.00 to $53.00 and gave the company an “equal weight” rating in a research note on Thursday, October 5th. ValuEngine upgraded shares of Sun Life Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Finally, TD Securities upped their price target on shares of Sun Life Financial from $50.00 to $51.00 and gave the company a “hold” rating in a research note on Thursday, August 10th.
Sun Life Financial (NYSE SLF) traded down 0.941% during midday trading on Wednesday, hitting $39.901. 51,700 shares of the stock were exchanged. The company has a market cap of $24.49 billion, a PE ratio of 13.156 and a beta of 0.88. The firm’s 50 day moving average price is $38.99 and its 200 day moving average price is $36.51. Sun Life Financial has a 12 month low of $32.03 and a 12 month high of $40.57.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.74 by $0.09. The firm had revenue of $8.12 billion during 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%. Sun Life Financial’s revenue was down 14.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.90 EPS. On average, equities research analysts forecast that Sun Life Financial will post $3.25 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Wednesday, August 30th were issued a $0.3439 dividend. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.32. This represents a $1.38 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Monday, August 28th. Sun Life Financial’s dividend payout ratio is 43.85%.
Sun Life Financial announced that its board has approved a stock repurchase plan on Wednesday, August 9th that allows the company to repurchase 11,500,000 outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
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Hedge funds have recently added to or reduced their stakes in the company. Jones Collombin Investment Counsel Inc boosted its holdings in shares of Sun Life Financial by 20.2% in the 2nd quarter. Jones Collombin Investment Counsel Inc now owns 2,826 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 475 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Sun Life Financial by 24.8% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,475 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 888 shares during the last quarter. Captrust Financial Advisors purchased a new stake in shares of Sun Life Financial in the 2nd quarter valued at $162,000. Tower Research Capital LLC TRC boosted its holdings in shares of Sun Life Financial by 147.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,628 shares of the financial services provider’s stock valued at $168,000 after acquiring an additional 2,163 shares during the last quarter. Finally, Advisory Services Network LLC boosted its holdings 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 buying an additional 38 shares in the last quarter. 40.90% of the stock is currently owned by institutional investors and hedge funds.
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 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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