Sun Life Financial (NYSE:SLF) Sees Strong Trading Volume - Still a Buy?

Key Points

• Sun Life Financial shares experienced unusually high trading volume, with 5.8 million shares changing hands—749% above the prior session—while the stock traded near $79.42.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $96.33; ratings include one Strong Buy, five Buys, five Holds, and one Sell.
• The company exceeded quarterly EPS expectations, reporting $1.46 versus the $1.39 consensus, and declared a quarterly dividend of $0.96 per share, equivalent to a 4.9% annualized yield.

Sun Life Financial Inc. (NYSE:SLF - Get Free Report) TSE: SLF shares saw unusually-strong trading volume on Tuesday . 5,797,400 shares traded hands during trading, an increase of 749% from the previous session's volume of 683,023 shares.The stock last traded at $79.42 and had previously closed at $79.05.

Wall Street Analyst Weigh In

Several analysts have weighed in on SLF shares. Royal Bank Of Canada lifted their price objective on shares of Sun Life Financial from $98.00 to $119.00 and gave the stock a "sector perform" rating in a research note on Monday, August 10th. Wall Street Zen upgraded shares of Sun Life Financial from a "sell" rating to a "hold" rating in a research report on Sunday, July 26th. Barclays restated an "underweight" rating on shares of Sun Life Financial in a research report on Friday, August 7th. Canadian Imperial Bank of Commerce reiterated a "neutral" rating on shares of Sun Life Financial in a report on Friday, May 8th. Finally, TD Securities reaffirmed a "buy" rating on shares of Sun Life Financial in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Sun Life Financial has an average rating of "Moderate Buy" and an average target price of $96.33.

Sun Life Financial Stock Down 0.0%

The stock's 50-day simple moving average is $80.26 and its 200 day simple moving average is $72.33. The firm has a market cap of $44.04 billion, a P/E ratio of 18.47 and a beta of 0.88.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its quarterly earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating 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, research analysts forecast that Sun Life Financial Inc. will post 5.72 earnings per share for the current fiscal year.

Sun Life Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Wednesday, August 26th will be paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Wednesday, August 26th. Sun Life Financial's dividend payout ratio is 66.12%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SLF. Louisbourg Investments Inc. boosted its holdings in Sun Life Financial by 3.0% during the 1st quarter. Louisbourg Investments Inc. now owns 5,105 shares of the financial services provider's stock worth $319,000 after acquiring an additional 150 shares during the last quarter. Cornerstone Planning Group LLC lifted its position in shares of Sun Life Financial by 68.4% during the fourth quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 167 shares in the last quarter. Candriam S.C.A. boosted its holdings in Sun Life Financial by 1.8% during the first quarter. Candriam S.C.A. now owns 9,794 shares of the financial services provider's stock worth $612,000 after purchasing an additional 177 shares during the last quarter. HB Wealth Management LLC grew its position in Sun Life Financial by 4.7% in the 1st quarter. HB Wealth Management LLC now owns 4,158 shares of the financial services provider's stock worth $260,000 after purchasing an additional 187 shares in the last quarter. Finally, Sei Investments Co. grew its position in Sun Life Financial by 3.5% in the 1st quarter. Sei Investments Co. now owns 5,788 shares of the financial services provider's stock worth $362,000 after purchasing an additional 196 shares in the last quarter. 52.26% of the stock is currently owned by institutional investors and hedge funds.

About Sun Life Financial

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.

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