Sun Life Financial Inc. (NYSE:SLF) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Analyst sentiment is moderately positive: Twelve brokerages give Sun Life Financial a consensus “Moderate Buy” rating, with an average 12-month price target of $96.33 versus the reported share price of $79.07.
• Quarterly results exceeded expectations: Sun Life reported earnings of $1.46 per share, topping the $1.39 consensus estimate, on revenue of $10.10 billion.
• The company offers a sizable dividend: Sun Life declared a quarterly dividend of $0.96 per share, or $3.84 annualized, representing a 4.9% yield and a 66.12% payout ratio.

Shares of Sun Life Financial Inc. (NYSE:SLF - Get Free Report) TSE: SLF have received an average recommendation of "Moderate Buy" from the twelve brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $96.3333.

SLF has been the topic of several research reports. TD Securities reissued a "buy" rating on shares of Sun Life Financial in a research note on Friday, August 7th. Royal Bank Of Canada raised their target price on shares of Sun Life Financial from $98.00 to $119.00 and gave the company a "sector perform" rating in a research note on Monday, August 10th. Evercore lowered shares of Sun Life Financial from an "outperform" rating to an "in-line" rating in a report on Monday, July 13th. Argus set a $81.00 price target on Sun Life Financial in a research note on Wednesday, June 10th. Finally, Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of Sun Life Financial in a research report on Friday, May 8th.

Sun Life Financial Trading Up 0.1%

Shares of NYSE:SLF opened at $79.07 on Monday. The company has a 50-day moving average price of $80.21 and a 200-day moving average price of $72.23. The company has a market cap of $44.07 billion, a price-to-earnings ratio of 18.48 and a beta of 0.88. Sun Life Financial has a 12 month low of $57.22 and a 12 month high of $84.38.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its quarterly earnings data on Thursday, August 6th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $10.10 billion for the quarter, compared to the consensus estimate of $994.33 million. As a group, research analysts forecast that Sun Life Financial will post 5.72 EPS for the current fiscal year.

Sun Life Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Wednesday, August 26th will be issued a dividend of $0.96 per share. The ex-dividend date is Wednesday, August 26th. This represents a $3.84 annualized dividend and a dividend yield of 4.9%. Sun Life Financial's dividend payout ratio (DPR) is presently 66.12%.

Hedge Funds Weigh In On Sun Life Financial

Hedge funds have recently bought and sold shares of the company. Cassaday & Co Wealth Management LLC purchased a new stake in Sun Life Financial during the 1st quarter valued at about $25,000. Cornerstone Planning Group LLC raised its holdings in Sun Life Financial by 68.4% in the fourth quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider's stock worth $26,000 after buying an additional 167 shares during the last quarter. First Bancorp Inc ME bought a new position in shares of Sun Life Financial in the second quarter worth approximately $35,000. Brown Brothers Harriman & Co. bought a new position in shares of Sun Life Financial in the fourth quarter worth approximately $30,000. Finally, Sittner & Nelson LLC purchased a new stake in shares of Sun Life Financial during the fourth quarter valued at approximately $33,000. Institutional investors own 52.26% of the company's stock.

Sun Life Financial Company Profile

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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