Shares of Sun Life Financial Inc. (NYSE:SLF - Get Free Report) TSE: SLF saw strong trading volume on Friday . 6,316,773 shares traded hands during mid-day trading, an increase of 823% from the previous session's volume of 684,427 shares.The stock last traded at $63.47 and had previously closed at $63.11.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on SLF shares. BMO Capital Markets reaffirmed an "outperform" rating on shares of Sun Life Financial in a research report on Monday, May 12th. Cormark upgraded Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research note on Thursday, February 13th. Wall Street Zen cut Sun Life Financial from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Scotiabank restated an "outperform" rating on shares of Sun Life Financial in a research report on Thursday, May 1st. Finally, Royal Bank of Canada lifted their price objective on shares of Sun Life Financial from $82.00 to $88.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $88.00.
View Our Latest Research Report on SLF
Sun Life Financial Stock Down 0.8%
The firm has a market capitalization of $36.02 billion, a P/E ratio of 16.61, a PEG ratio of 1.52 and a beta of 0.90. The business's 50 day moving average is $58.77 and its two-hundred day moving average is $58.53.
Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its quarterly earnings results 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 net margin of 8.08% and a return on equity of 16.86%. The company had revenue of $7.91 billion during the quarter, compared to analyst estimates of $6.44 billion. During the same period in the prior year, the business posted $1.40 EPS. As a group, equities analysts anticipate that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.
Sun Life Financial Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Wednesday, May 28th will be given a dividend of $0.6332 per share. The ex-dividend date of this dividend is Wednesday, May 28th. This is a boost from Sun Life Financial's previous quarterly dividend of $0.59. This represents a $2.53 annualized dividend and a dividend yield of 3.97%. Sun Life Financial's dividend payout ratio (DPR) is 62.09%.
Institutional Trading of Sun Life Financial
A number of hedge funds and other institutional investors have recently modified their holdings of SLF. SG Americas Securities LLC acquired a new position in Sun Life Financial during the fourth quarter worth about $127,000. Janney Montgomery Scott LLC grew its stake in shares of Sun Life Financial by 13.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 7,622 shares of the financial services provider's stock worth $452,000 after purchasing an additional 893 shares during the last quarter. Brighton Jones LLC bought a new stake in shares of Sun Life Financial in the 4th quarter worth approximately $244,000. Blue Trust Inc. lifted its stake in Sun Life Financial by 11.2% during the fourth quarter. Blue Trust Inc. now owns 8,516 shares of the financial services provider's stock valued at $494,000 after purchasing an additional 855 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in Sun Life Financial during the fourth quarter worth approximately $95,000. Institutional investors own 52.26% of the company's stock.
About Sun Life Financial
(
Get Free Report)
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.
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