TD Securities Upgrades Sun Life Financial (SLF) to “Buy”

Sun Life Financial (NYSE:SLF) (TSE:SLF) was upgraded by research analysts at TD Securities from a “hold” rating to a “buy” rating in a research report issued on Monday, The Fly reports.

A number of other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Sun Life Financial from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Tuesday, October 10th. Morgan Stanley boosted their price objective on shares of Sun Life Financial from $52.00 to $53.00 and gave the stock an “equal weight” rating in a report on Thursday, October 5th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $52.00 target price on shares of Sun Life Financial in a research note on Friday, November 24th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $50.80.

Sun Life Financial (NYSE:SLF) opened at $41.95 on Monday. Sun Life Financial has a 1-year low of $32.22 and a 1-year high of $42.11. The firm has a market cap of $25,672.42, a P/E ratio of 12.71, a P/E/G ratio of 1.72 and a beta of 0.93. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.42 and a quick ratio of 4.42.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings data on Wednesday, November 8th. The financial services provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.05. Sun Life Financial had a net margin of 11.94% and a return on equity of 13.17%. analysts anticipate that Sun Life Financial will post 3.17 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hexavest Inc. raised its stake in Sun Life Financial by 70.3% during the 4th quarter. Hexavest Inc. now owns 466,545 shares of the financial services provider’s stock valued at $19,318,000 after buying an additional 192,580 shares during the last quarter. Atlantic Trust Group LLC raised its stake in Sun Life Financial by 10.9% during the 3rd quarter. Atlantic Trust Group LLC now owns 37,127 shares of the financial services provider’s stock valued at $1,479,000 after buying an additional 3,634 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Sun Life Financial during the 3rd quarter valued at $402,000. Beacon Investment Advisory Services Inc. purchased a new stake in Sun Life Financial during the 3rd quarter valued at $375,000. Finally, First Republic Investment Management Inc. raised its stake in Sun Life Financial by 72.3% during the 3rd quarter. First Republic Investment Management Inc. now owns 13,231 shares of the financial services provider’s stock valued at $527,000 after buying an additional 5,552 shares during the last quarter. Institutional investors and hedge funds own 41.16% of the company’s stock.

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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.

The Fly

Analyst Recommendations for Sun Life Financial (NYSE:SLF)