Sun Life Financial Inc. (NYSE:SLF) Given Average Recommendation of "Buy" by Analysts

Shares of Sun Life Financial Inc. (NYSE:SLF - Get Free Report) TSE: SLF have earned an average rating of "Buy" from the four analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company.

A number of equities analysts have commented on the stock. StockNews.com lowered shares of Sun Life Financial from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Cormark upgraded shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research report on Thursday, February 13th. Scotiabank reiterated an "outperform" rating on shares of Sun Life Financial in a research report on Thursday, May 1st. Finally, National Bank Financial raised shares of Sun Life Financial from a "sector perform" rating to an "outperform" rating in a report on Wednesday, January 15th.

Sun Life Financial Trading Up 3.5 %

SLF stock traded up $2.07 during midday trading on Tuesday, hitting $62.01. The stock had a trading volume of 938,072 shares, compared to its average volume of 666,411. Sun Life Financial has a 52 week low of $46.41 and a 52 week high of $63.34. The stock has a 50-day simple moving average of $56.94 and a 200 day simple moving average of $58.03. The firm has a market capitalization of $35.19 billion, a price-to-earnings ratio of 16.15, a P/E/G ratio of 1.52 and a beta of 0.90.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its earnings results on Thursday, May 8th. The financial services provider reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.05. The business had revenue of $7.91 billion for the quarter, compared to analyst estimates of $6.44 billion. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. During the same period in the previous year, the business earned $1.40 EPS. On average, equities analysts forecast that Sun Life Financial will post 5.19 EPS for the current year.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Wednesday, May 28th will be paid a $0.6332 dividend. This represents a $2.53 dividend on an annualized basis and a yield of 4.08%. This is a boost from Sun Life Financial's previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, May 28th. Sun Life Financial's payout ratio is presently 60.16%.

Hedge Funds Weigh In On Sun Life Financial

Several institutional investors have recently modified their holdings of SLF. Human Investing LLC bought a new position in Sun Life Financial in the fourth quarter valued at approximately $26,000. Investment Management Corp VA ADV lifted its position in Sun Life Financial by 164.5% in the 1st quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 385 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in Sun Life Financial by 53.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider's stock worth $38,000 after purchasing an additional 231 shares in the last quarter. Asset Planning Inc acquired a new stake in shares of Sun Life Financial in the 4th quarter valued at about $40,000. Finally, BankPlus Trust Department acquired a new stake in Sun Life Financial in the 4th quarter valued at approximately $40,000. Institutional investors own 52.26% of the company's stock.

Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.