Sun Life Financial Inc. (NYSE:SLF) Stock Has Consensus Price Target of $103.50

Key Points

• Analysts maintain a moderately bullish view: Sun Life Financial has a consensus “Moderate Buy” rating from 12 analysts, with an average 12-month price target of $103.50 versus its listed price of $77.32.
• Institutional ownership is substantial: Major investors, including Bank of Nova Scotia, Canada Pension Plan Investment Board, and Wellington Management, recently acquired positions; institutions collectively own 52.26% of the company.
• Sun Life reported solid financial results and offers income potential: Quarterly earnings of $1.46 per share exceeded the $1.39 consensus estimate, while its annualized C$3.84 dividend represents a 5.0% yield.

Sun Life Financial Inc. (NYSE:SLF - Get Free Report) TSE: SLF has earned a consensus recommendation of "Moderate Buy" from the twelve ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $103.50.

A number of research firms have recently commented on SLF. Royal Bank Of Canada raised their price target on Sun Life Financial from $98.00 to $119.00 and gave the stock a "sector perform" rating in a research report on Monday, August 10th. Argus boosted their price objective on Sun Life Financial from $81.00 to $88.00 and gave the company a "buy" rating in a research report on Thursday, September 3rd. Wall Street Zen upgraded Sun Life Financial from a "sell" rating to a "hold" rating in a research report on Sunday, July 26th. UBS Group reissued a "neutral" rating on shares of Sun Life Financial in a research note on Wednesday, September 2nd. Finally, TD Securities restated a "buy" rating on shares of Sun Life Financial in a report on Friday, August 7th.

Institutional Investors Weigh In On Sun Life Financial

Several large investors have recently made changes to their positions in the stock. Bank of Nova Scotia acquired a new stake in shares of Sun Life Financial in the second quarter valued at approximately $544,052,000. The Manufacturers Life Insurance Company acquired a new position in Sun Life Financial during the second quarter worth $293,050,000. Canada Pension Plan Investment Board acquired a new position in Sun Life Financial during the second quarter worth $292,980,000. Legal & General Group Plc acquired a new position in Sun Life Financial during the second quarter worth $280,312,000. Finally, Wellington Management Group LLP bought a new position in Sun Life Financial in the second quarter valued at $220,567,000. Institutional investors own 52.26% of the company's stock.

Sun Life Financial Stock Up 0.4%

SLF opened at $77.32 on Tuesday. The stock has a market cap of $42.99 billion, a P/E ratio of 18.07, a P/E/G ratio of 1.92 and a beta of 0.89. Sun Life Financial has a 12 month low of $57.22 and a 12 month high of $84.38. The company has a fifty day simple moving average of $79.69 and a 200 day simple moving average of $75.86.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.07. Sun Life Financial had a return on equity of 17.96% and a net margin of 7.66%. The firm had revenue of $10.10 billion for the quarter, compared to analyst estimates of $994.33 million. On average, equities research analysts expect that Sun Life Financial will post 5.74 earnings per share for the current fiscal year.

Sun Life Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Wednesday, August 26th were issued a C$0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 5.0%. The ex-dividend date was Wednesday, August 26th. Sun Life Financial's dividend payout ratio is 64.02%.

Sun Life Financial Company Profile

Sun Life Financial Inc is a Canadian financial services company that provides insurance, wealth, and asset management products to individuals, businesses, and institutions. The company serves clients through operations in Canada, the United States, and several markets in Asia.

Its insurance offerings include life, health, dental, disability, long-term care, and critical illness coverage, as well as annuities and employee benefits. Sun Life also provides retirement savings and investment products, including mutual funds and other wealth solutions for individuals and workplace plan members.

Through its asset management businesses, Sun Life manages investments for institutional and retail clients across a range of asset classes.

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