Shares of Sun Life Financial Inc. (NYSE:SLF - Get Free Report) TSE: SLF have earned a consensus recommendation of "Moderate Buy" from the five research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $88.00.
A number of research analysts recently weighed in on SLF shares. BMO Capital Markets reaffirmed an "outperform" rating on shares of Sun Life Financial in a report on Monday, May 12th. Scotiabank reiterated an "outperform" rating on shares of Sun Life Financial in a research report on Thursday, May 1st. Wall Street Zen downgraded Sun Life Financial from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Cormark upgraded Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research report on Thursday, February 13th. Finally, Royal Bank of Canada boosted their target price on Sun Life Financial from $82.00 to $88.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th.
Check Out Our Latest Analysis on Sun Life Financial
Sun Life Financial Price Performance
Shares of NYSE:SLF traded down $0.10 during trading on Friday, reaching $64.81. The company had a trading volume of 456,823 shares, compared to its average volume of 648,634. The stock's fifty day moving average price is $59.68 and its 200 day moving average price is $58.72. Sun Life Financial has a fifty-two week low of $46.41 and a fifty-two week high of $65.28. The firm has a market capitalization of $36.60 billion, a price-to-earnings ratio of 16.88, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90.
Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.27 earnings per share for the quarter, topping analysts' consensus estimates of $1.22 by $0.05. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. The firm had revenue of $7.91 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the prior year, the company posted $1.40 earnings per share. On average, equities analysts anticipate that Sun Life Financial will post 5.19 EPS for the current fiscal year.
Sun Life Financial Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Wednesday, May 28th will be given a dividend of $0.6332 per share. The ex-dividend date is Wednesday, May 28th. This is an increase from Sun Life Financial's previous quarterly dividend of $0.59. This represents a $2.53 annualized dividend and a yield of 3.91%. Sun Life Financial's dividend payout ratio is 62.09%.
Hedge Funds Weigh In On Sun Life Financial
Several large investors have recently added to or reduced their stakes in SLF. Norges Bank purchased a new position in Sun Life Financial during the fourth quarter worth about $382,176,000. Goldman Sachs Group Inc. lifted its position in Sun Life Financial by 282.5% during the first quarter. Goldman Sachs Group Inc. now owns 2,776,920 shares of the financial services provider's stock worth $159,006,000 after buying an additional 2,050,891 shares during the period. Intact Investment Management Inc. lifted its position in Sun Life Financial by 295.5% during the fourth quarter. Intact Investment Management Inc. now owns 1,911,027 shares of the financial services provider's stock worth $113,453,000 after buying an additional 1,427,815 shares during the period. Canada Pension Plan Investment Board increased its stake in Sun Life Financial by 47.2% during the first quarter. Canada Pension Plan Investment Board now owns 4,221,447 shares of the financial services provider's stock worth $241,643,000 after acquiring an additional 1,353,508 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Sun Life Financial by 2,071.4% during the fourth quarter. Wellington Management Group LLP now owns 1,350,751 shares of the financial services provider's stock worth $80,160,000 after acquiring an additional 1,288,545 shares during the last quarter. 52.26% of the stock is currently owned by hedge funds and other institutional investors.
About Sun Life Financial
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Get Free ReportSun 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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