Sun Life Financial (NYSE:SLF) Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Sun Life Financial from “sell” to “hold”, adding to a mixed analyst picture that currently averages to a Moderate Buy with a $84.67 price target.
• The stock was trading up 1.0% at $82.19, near its 12-month high of $82.44, and has climbed well above its 50-day and 200-day moving averages.
• Sun Life Financial’s latest quarterly results beat EPS estimates, reporting $1.38 per share versus $1.35 expected, while institutional ownership remains substantial at 52.26%.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Sunday.

Several other equities research analysts also recently weighed in on the company. Evercore downgraded Sun Life Financial from an "outperform" rating to an "in-line" rating in a research report on Monday, July 13th. TD Cowen reaffirmed a "buy" rating on shares of Sun Life Financial in a report on Thursday, May 7th. BMO Capital Markets restated an "outperform" rating on shares of Sun Life Financial in a research note on Friday, May 8th. Weiss Ratings reiterated a "buy (b)" rating on shares of Sun Life Financial in a research report on Monday, July 6th. Finally, TD Securities reaffirmed a "buy" rating on shares of Sun Life Financial in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $84.67.

Sun Life Financial Trading Up 1.0%

NYSE SLF opened at $82.19 on Friday. The stock's 50 day moving average is $76.88 and its 200 day moving average is $69.56. The stock has a market cap of $45.81 billion, a PE ratio of 21.18 and a beta of 0.88. Sun Life Financial has a 12 month low of $56.22 and a 12 month high of $82.44.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.03. Sun Life Financial had a return on equity of 17.80% and a net margin of 7.85%.The business had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $925.99 million. During the same quarter in the previous year, the business earned $1.82 EPS. On average, analysts forecast that Sun Life Financial will post 5.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Sun Life Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLF. PensionDanmark Pensionsforsikringsaktieselskab raised its position in shares of Sun Life Financial by 22.5% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 160,789 shares of the financial services provider's stock valued at $12,619,000 after buying an additional 29,490 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Sun Life Financial by 3.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 25,609 shares of the financial services provider's stock valued at $2,010,000 after acquiring an additional 843 shares in the last quarter. Vigilare Wealth Management acquired a new stake in Sun Life Financial in the 2nd quarter valued at about $202,000. Versant Capital Management Inc boosted its holdings in shares of Sun Life Financial by 15.8% during the 2nd quarter. Versant Capital Management Inc now owns 4,807 shares of the financial services provider's stock worth $377,000 after purchasing an additional 656 shares during the last quarter. Finally, Rathbones Group PLC grew its position in shares of Sun Life Financial by 1.8% in the first quarter. Rathbones Group PLC now owns 12,950 shares of the financial services provider's stock valued at $809,000 after purchasing an additional 235 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company's stock.

About Sun Life Financial

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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