Sun Life Financial (NYSE:SLF) Stock Price Breaks Above 200-Day Moving Average - What's Next?

Key Points

• Sun Life Financial shares broke above their 200-day moving average, reaching $80.25 before closing around $79.51, compared with the $74.84 average.
• Analysts hold a broadly positive view, with a consensus “Moderate Buy” rating and an average price target of $98.67; the company also exceeded quarterly EPS expectations, reporting $1.46 versus $1.39 forecast.
• Sun Life announced a quarterly dividend of C$0.96 per share, equating to an annualized C$3.84 payout and a 4.8% yield; institutional investors and hedge funds own 52.26% of the stock.

Sun Life Financial Inc. (NYSE:SLF - Get Free Report) TSE: SLF's stock price passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $74.84 and traded as high as $80.25. Sun Life Financial shares last traded at $79.51, with a volume of 300,201 shares trading hands.

Wall Street Analysts Forecast Growth

SLF has been the subject of several analyst reports. Evercore cut Sun Life Financial from an "outperform" rating to an "in-line" rating in a research note on Monday, July 13th. TD Securities reissued a "buy" rating on shares of Sun Life Financial in a research note on Friday, August 7th. Royal Bank Of Canada upped 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 report on Monday, August 10th. Wall Street Zen upgraded shares of Sun Life Financial from a "sell" rating to a "hold" rating in a research note on Sunday, July 26th. Finally, UBS Group reaffirmed a "neutral" rating on shares of Sun Life Financial in a report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.67.

Sun Life Financial Stock Down 0.5%

The stock has a market cap of $44.21 billion, a PE ratio of 18.59, a P/E/G ratio of 1.99 and a beta of 0.87. The business's fifty day moving average is $80.64 and its 200 day moving average is $74.84.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its quarterly earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.07. The company had revenue of $10.10 billion for the quarter, compared to analysts' expectations of $994.33 million. Sun Life Financial had a net margin of 7.66% and a return on equity of 17.96%. As a group, analysts predict that Sun Life Financial Inc. will post 5.74 EPS for the current year.

Sun Life Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Wednesday, August 26th will be given a dividend of C$0.96 per share. The ex-dividend date is Wednesday, August 26th. This represents a $3.84 dividend on an annualized basis and a yield of 4.8%. Sun Life Financial's dividend payout ratio (DPR) is 64.02%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SLF. Bank of Nova Scotia acquired a new stake in shares of Sun Life Financial during the second quarter worth $544,052,000. Norges Bank acquired a new position in Sun Life Financial in the fourth quarter valued at $398,037,000. The Manufacturers Life Insurance Company purchased a new position in Sun Life Financial during the second quarter worth about $293,050,000. Canada Pension Plan Investment Board purchased a new position in Sun Life Financial during the second quarter worth about $292,980,000. Finally, Legal & General Group Plc acquired a new stake in Sun Life Financial in the 2nd quarter worth about $280,312,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

About Sun Life Financial

Sun Life Financial Inc is a Canada-based financial services company that provides insurance, wealth, and asset management products to individuals, businesses, and institutions. Its offerings include life, health, and dental insurance; retirement and investment solutions; group benefits; and financial planning services.

Through its asset management operations, Sun Life serves institutional and individual investors with investment management and related advisory services. The company also provides workplace benefit and retirement programs designed to support employers and their employees.

Founded in 1865, Sun Life serves customers in Canada, the United States, the United Kingdom, and several markets in Asia.

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