Sun Life Financial (NYSE:SLF) Stock Price Breaks Above 50-Day Moving Average - Here's What Happened

Key Points

• Sun Life Financial shares rose above their 50-day moving average, reaching $79.93 and last trading at $79.529, compared with a 50-day average of $79.27.
• Analyst sentiment is moderately bullish: MarketBeat reports a consensus “Moderate Buy” rating and a $103.50 price target, despite recent neutral, in-line, and underweight ratings from several firms.
• The company exceeded quarterly earnings expectations with EPS of $1.46 versus the $1.39 consensus estimate and pays a quarterly dividend of C$0.96, equivalent to a 4.8% annualized yield.

Sun Life Financial Inc. (NYSE:SLF - Get Free Report) TSE: SLF's stock price passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $79.27 and traded as high as $79.93. Sun Life Financial shares last traded at $79.5290, with a volume of 254,135 shares trading hands.

Analyst Upgrades and Downgrades

SLF has been the subject of a number of recent analyst reports. UBS Group reaffirmed a "neutral" rating on shares of Sun Life Financial in a report on Wednesday, September 2nd. Evercore downgraded Sun Life Financial from an "outperform" rating to an "in-line" rating in a report on Monday, July 13th. Barclays reissued an "underweight" rating on shares of Sun Life Financial in a research report on Wednesday, October 7th. Argus upped their price target on Sun Life Financial from $81.00 to $88.00 and gave the company a "buy" rating in a report on Thursday, September 3rd. Finally, TD Securities reiterated a "buy" rating on shares of Sun Life Financial in a research note on Friday, August 7th. One research 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 data from MarketBeat, Sun Life Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.50.

Sun Life Financial Stock Up 0.6%

The firm has a market capitalization of $44.17 billion, a price-to-earnings ratio of 18.59, a P/E/G ratio of 1.96 and a beta of 0.89. The business has a 50-day moving average price of $79.27 and a 200-day moving average price of $72.85.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released 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 net margin of 7.66% and a return on equity of 17.96%. The company had revenue of $10.10 billion for the quarter, compared to the consensus estimate of $994.33 million. On average, equities research analysts forecast that Sun Life Financial Inc. will post 5.77 earnings per share for the current year.

Sun Life Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Wednesday, August 26th were paid a C$0.96 dividend. The ex-dividend date was Wednesday, August 26th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.8%. Sun Life Financial's dividend payout ratio is presently 63.79%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Cassaday & Co Wealth Management LLC purchased a new position in shares of Sun Life Financial during the 1st quarter valued at about $25,000. First Bancorp Inc ME acquired a new position in shares of Sun Life Financial in the 2nd quarter valued at about $35,000. Scarborough Advisors LLC acquired a new position in shares of Sun Life Financial in the 1st quarter valued at about $33,000. Capital Analysts LLC acquired a new position in shares of Sun Life Financial in the 2nd quarter valued at about $58,000. Finally, Danske Bank A S purchased a new stake in shares of Sun Life Financial in the second quarter worth about $79,000. Hedge funds and other institutional investors own 52.26% of the company's stock.

About Sun Life Financial

Sun Life Financial Inc NYSE: SLF is a Canadian financial services company that provides insurance, wealth, and asset management solutions to individuals, businesses, and institutions. Its offerings include life, health, and dental insurance; retirement and savings products; investment solutions; and employee benefits.

Through its asset management businesses, Sun Life provides investment management and advisory services to institutional and retail clients. The company also offers workplace pension, group insurance, and employee wellness programs, helping employers support the financial security and health of their employees.

Founded in Montreal in 1865, Sun Life serves clients primarily in Canada, the United States, and several Asian markets, including Hong Kong, the Philippines, Indonesia, India, and Vietnam.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.