Sun Life Financial (NYSE:SLF) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $60.74 and traded as high as $62.89. Sun Life Financial shares last traded at $62.47, with a volume of 174,036 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SLF. Weiss Ratings reiterated a “buy (b)” rating on shares of Sun Life Financial in a report on Wednesday, October 8th. Barclays reiterated an “underweight” rating on shares of Sun Life Financial in a research note on Wednesday, October 8th. Morgan Stanley set a $89.00 target price on shares of Sun Life Financial in a report on Tuesday, October 7th. National Bankshares reaffirmed a “sector perform” rating on shares of Sun Life Financial in a report on Thursday, November 6th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $84.00 price objective on shares of Sun Life Financial in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $86.50.

Sun Life Financial Stock Down 0.1%

The firm’s 50-day moving average price is $60.02 and its 200 day moving average price is $60.74. The firm has a market cap of $34.71 billion, a P/E ratio of 16.61 and a beta of 0.87.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its earnings results on Wednesday, November 5th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. Sun Life Financial had a net margin of 7.53% and a return on equity of 16.93%. The firm had revenue of $944.53 million during the quarter, compared to analyst estimates of $944.53 million. During the same period in the previous year, the business posted $2.33 EPS. On average, equities analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, November 26th will be given a $0.92 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $3.68 annualized dividend and a yield of 5.9%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.64. Sun Life Financial’s payout ratio is 69.68%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Triumph Capital Management bought a new stake in shares of Sun Life Financial during the third quarter valued at about $64,000. Swiss Life Asset Management Ltd raised its position in shares of Sun Life Financial by 20.7% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 87,248 shares of the financial services provider’s stock worth $5,246,000 after buying an additional 14,980 shares in the last quarter. Investment Research Partners LLC acquired a new stake in shares of Sun Life Financial in the 3rd quarter worth approximately $540,000. CIBC Bancorp USA Inc. bought a new position in shares of Sun Life Financial in the third quarter valued at approximately $730,000. Finally, Achmea Investment Management B.V. acquired a new position in shares of Sun Life Financial during the third quarter valued at approximately $2,341,000. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Company Profile

Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.

Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.