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

Key Points

• Sun Life Financial Inc. (NYSE:SLF) has received a consensus "Moderate Buy" recommendation from six research firms, with varied ratings including one sell, two hold, two buy, and one strong buy.
• The average twelve-month price target for SLF stock is set at $88.00, reflecting analysts' perspectives on the company's value.
• For the latest quarter, Sun Life reported $1.29 earnings per share, meeting analysts' expectations, although revenue fell short at $6.65 billion against a forecast of $7.34 billion.

Shares of Sun Life Financial Inc. (NYSE:SLF - Get Free Report) TSE: SLF have earned a consensus recommendation of "Moderate Buy" from the six research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $88.00.

A number of analysts recently issued reports on the company. Argus upgraded Sun Life Financial to a "strong-buy" rating in a research note on Thursday, September 4th. Barclays cut Sun Life Financial from an "equal weight" rating to an "underweight" rating in a research report on Monday, July 7th. National Bank Financial lowered shares of Sun Life Financial from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. Finally, Scotiabank raised shares of Sun Life Financial to a "hold" rating in a report on Thursday, July 31st.

Sun Life Financial Trading Down 0.0%

Shares of SLF stock opened at $60.16 on Friday. The firm's 50 day moving average is $59.23 and its 200 day moving average is $60.39. The stock has a market capitalization of $33.72 billion, a P/E ratio of 14.89, a PEG ratio of 1.61 and a beta of 0.90. Sun Life Financial has a 12 month low of $52.44 and a 12 month high of $66.81.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its earnings results on Thursday, August 7th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.29. Sun Life Financial had a net margin of 7.59% and a return on equity of 17.21%. The business had revenue of $6.65 billion for the quarter, compared to analysts' expectations of $7.34 billion. During the same quarter in the previous year, the firm posted $1.11 EPS. On average, equities analysts predict that Sun Life Financial will post 5.19 EPS for the current year.

Institutional Investors Weigh In On Sun Life Financial

A number of institutional investors and hedge funds have recently made changes to their positions in SLF. Vanguard Group Inc. grew its position in Sun Life Financial by 3.4% during the second quarter. Vanguard Group Inc. now owns 25,422,211 shares of the financial services provider's stock worth $1,691,568,000 after buying an additional 827,119 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Sun Life Financial by 2.4% during the 1st quarter. TD Asset Management Inc now owns 16,100,340 shares of the financial services provider's stock valued at $921,330,000 after acquiring an additional 374,682 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Sun Life Financial by 8.9% during the first quarter. 1832 Asset Management L.P. now owns 10,338,250 shares of the financial services provider's stock worth $591,968,000 after purchasing an additional 846,735 shares in the last quarter. Federation des caisses Desjardins du Quebec grew its holdings in shares of Sun Life Financial by 5.2% during the first quarter. Federation des caisses Desjardins du Quebec now owns 6,748,255 shares of the financial services provider's stock worth $385,740,000 after purchasing an additional 335,054 shares in the last quarter. Finally, Bank of Nova Scotia increased its position in shares of Sun Life Financial by 6.5% in the second quarter. Bank of Nova Scotia now owns 6,157,205 shares of the financial services provider's stock worth $409,576,000 after purchasing an additional 377,204 shares during the last quarter. Hedge funds and other 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.

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