Sun Life Financial Inc. (NYSE:SLF) Receives Consensus Rating of “Hold” from Analysts

Shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) have been given an average rating of “Hold” by the eleven research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $86.50.

SLF has been the topic of several recent research reports. TD Securities restated a “buy” rating on shares of Sun Life Financial in a research report on Thursday, February 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Sun Life Financial in a report on Wednesday, January 21st. Barclays reaffirmed an “underweight” rating on shares of Sun Life Financial in a report on Thursday, January 8th. BMO Capital Markets restated an “outperform” rating on shares of Sun Life Financial in a research report on Friday, February 13th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Sun Life Financial in a report on Friday, February 13th.

Hedge Funds Weigh In On Sun Life Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLF. Purpose Unlimited Inc. purchased a new stake in shares of Sun Life Financial during the fourth quarter worth about $13,182,000. Caitong International Asset Management Co. Ltd boosted its holdings in Sun Life Financial by 539.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,848 shares of the financial services provider’s stock worth $115,000 after buying an additional 1,559 shares during the last quarter. MidFirst Bank purchased a new stake in Sun Life Financial during the 4th quarter worth approximately $1,903,000. DGS Capital Management LLC acquired a new position in shares of Sun Life Financial during the fourth quarter valued at approximately $209,000. Finally, Compound Planning Inc. lifted its position in shares of Sun Life Financial by 12.9% in the fourth quarter. Compound Planning Inc. now owns 5,820 shares of the financial services provider’s stock valued at $363,000 after acquiring an additional 663 shares in the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

Sun Life Financial Stock Performance

Shares of SLF opened at $62.49 on Friday. The company has a market capitalization of $34.61 billion, a P/E ratio of 14.20 and a beta of 0.87. The business’s 50-day moving average is $64.38 and its two-hundred day moving average is $61.83. Sun Life Financial has a fifty-two week low of $52.44 and a fifty-two week high of $69.67.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Wednesday, February 11th. The financial services provider reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.06. The firm had revenue of $973.53 million for the quarter, compared to the consensus estimate of $973.53 million. Sun Life Financial had a return on equity of 17.76% and a net margin of 8.48%.During the same quarter in the prior year, the business earned $1.68 earnings per share. Analysts forecast that Sun Life Financial will post 5.19 EPS for the current year.

Sun Life Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Wednesday, February 25th will be paid a $0.92 dividend. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $3.68 dividend on an annualized basis and a yield of 5.9%. Sun Life Financial’s dividend payout ratio (DPR) is currently 61.36%.

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.