Sun Life Financial (NYSE:SLF) Raised to Hold at Wall Street Zen

Sun Life Financial (NYSE:SLF) (TSE:SLF) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other research firms have also issued reports on SLF. TD Securities reiterated a “buy” rating on shares of Sun Life Financial in a report on Thursday, May 7th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Sun Life Financial in a research note on Friday, May 8th. Scotiabank reaffirmed a “sector perform” rating on shares of Sun Life Financial in a research report on Wednesday, April 29th. BMO Capital Markets reiterated an “outperform” rating on shares of Sun Life Financial in a research note on Friday, May 8th. Finally, Argus set a $81.00 price objective on Sun Life Financial in a report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.67.

Sun Life Financial Trading Down 0.0%

Shares of SLF stock opened at $79.61 on Friday. The firm’s fifty day moving average price is $74.09 and its two-hundred day moving average price is $67.63. Sun Life Financial has a 1 year low of $56.22 and a 1 year high of $79.67. The firm has a market capitalization of $44.13 billion, a P/E ratio of 20.52 and a beta of 0.88.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. The company had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $925.99 million. Sun Life Financial had a net margin of 7.85% and a return on equity of 17.80%. During the same period in the prior year, the business posted $1.82 EPS. As a group, equities research analysts forecast that Sun Life Financial will post 5.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Sun Life Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cassaday & Co Wealth Management LLC acquired a new position in Sun Life Financial during the first quarter worth approximately $25,000. Cornerstone Planning Group LLC raised its stake in Sun Life Financial by 68.4% in the fourth quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider’s stock valued at $26,000 after buying an additional 167 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in shares of Sun Life Financial in the fourth quarter valued at approximately $30,000. Sittner & Nelson LLC acquired a new stake in shares of Sun Life Financial in the fourth quarter valued at approximately $33,000. Finally, Scarborough Advisors LLC bought a new position in shares of Sun Life Financial during the 1st quarter worth approximately $33,000. 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.