Analysts Set Sun Life Financial Inc. (NYSE:SLF) Price Target at $88.00

Shares of Sun Life Financial Inc. (NYSE:SLF - Get Free Report) TSE: SLF have earned an average recommendation of "Moderate Buy" from the five ratings firms that are currently covering the firm, Marketbeat Ratings 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 brokers that have issued ratings on the stock in the last year is $88.00.

A number of brokerages have recently commented on SLF. BMO Capital Markets reaffirmed an "outperform" rating on shares of Sun Life Financial in a research report on Monday, May 12th. Scotiabank reissued an "outperform" rating on shares of Sun Life Financial in a research report on Thursday, May 1st. Finally, Royal Bank Of Canada increased their price target on shares of Sun Life Financial from $82.00 to $88.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th.

Sun Life Financial Stock Performance

Shares of SLF traded up $0.47 during trading hours on Wednesday, reaching $65.90. 628,832 shares of the company traded hands, compared to its average volume of 624,144. The stock's fifty day moving average is $62.68 and its 200 day moving average is $59.12. The stock has a market cap of $37.14 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 1.77 and a beta of 0.92. Sun Life Financial has a 1-year low of $46.41 and a 1-year high of $66.56.

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 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.05. The business had revenue of $7.91 billion during the quarter, compared to analyst estimates of $6.44 billion. Sun Life Financial had a net margin of 7.47% and a return on equity of 17.33%. During the same quarter in the prior year, the business earned $1.40 earnings per share. On average, equities research analysts predict that Sun Life Financial will post 5.19 EPS for the current year.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Wednesday, May 28th will be issued a dividend of $0.6332 per share. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $2.53 annualized dividend and a dividend yield of 3.84%. Sun Life Financial's dividend payout ratio (DPR) is presently 64.89%.

Institutional Trading of Sun Life Financial

Hedge funds have recently modified their holdings of the company. Investment Management Corp VA ADV increased its holdings in shares of Sun Life Financial by 164.5% during the first quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider's stock worth $35,000 after buying an additional 385 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of Sun Life Financial by 53.2% during the first quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider's stock worth $38,000 after buying an additional 231 shares in the last quarter. BankPlus Trust Department acquired a new stake in shares of Sun Life Financial during the fourth quarter worth approximately $40,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Sun Life Financial during the first quarter worth approximately $55,000. Finally, GeoWealth Management LLC increased its holdings in shares of Sun Life Financial by 4,657.1% during the fourth quarter. GeoWealth Management LLC now owns 999 shares of the financial services provider's stock worth $59,000 after buying an additional 978 shares in the last quarter. Institutional investors and hedge funds 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.