Sun Life Financial (NYSE:SLF) Given Buy (B) Rating at Weiss Ratings

Key Points

• Sun Life Financial's stock has been given a "buy (B)" rating by Weiss Ratings, reflecting a positive outlook from analysts.
• Other analysts have varying opinions, with one rating it as a strong buy, while others issued ratings from hold to sell, leading to a consensus rating of "Moderate Buy."
• Shares traded at $61.93 on Wednesday, with a market capitalization of $38.06 billion, and the company reported earnings of $1.29 EPS for the last quarter, meeting expectations.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF's stock had its "buy (b)" rating restated by analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other research analysts also recently issued research reports about the company. Argus raised Sun Life Financial to a "strong-buy" rating in a report on Thursday, September 4th. Barclays reissued an "underweight" rating on shares of Sun Life Financial in a report on Wednesday. National Bank Financial downgraded Sun Life Financial from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. Scotiabank raised Sun Life Financial to a "hold" rating in a report on Thursday, July 31st. Finally, Morgan Stanley set a $89.00 target price on Sun Life Financial in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.50.

Sun Life Financial Price Performance

Shares of Sun Life Financial stock traded up $1.10 during trading on Wednesday, hitting $61.93. 573,164 shares of the company's stock traded hands, compared to its average volume of 429,966. Sun Life Financial has a 1 year low of $52.44 and a 1 year high of $66.81. The stock has a market capitalization of $38.06 billion, a P/E ratio of 15.33, a PEG ratio of 1.63 and a beta of 0.90. The business has a 50-day simple moving average of $59.16 and a 200-day simple moving average of $60.52.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Private Trust Co. NA raised its stake in shares of Sun Life Financial by 130.6% in the second quarter. Private Trust Co. NA now owns 429 shares of the financial services provider's stock worth $29,000 after buying an additional 243 shares during the period. Investment Management Corp VA ADV raised its stake in shares of Sun Life Financial by 164.5% in 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 during the period. Hexagon Capital Partners LLC raised its stake in shares of Sun Life Financial by 53.2% in 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 during the period. Westside Investment Management Inc. raised its stake in shares of Sun Life Financial by 62.8% in the second quarter. Westside Investment Management Inc. now owns 578 shares of the financial services provider's stock worth $38,000 after buying an additional 223 shares during the period. Finally, Tobam bought a new position in shares of Sun Life Financial in the second quarter worth about $44,000. Institutional investors own 52.26% of the company's stock.

About Sun Life Financial

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.