Sun Life Financial (NYSE:SLF) Sees Large Volume Increase - Still a Buy?

Sun Life Financial Inc. (NYSE:SLF - Get Free Report) TSE: SLF saw strong trading volume on Friday . 6,316,773 shares changed 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.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Scotiabank reaffirmed an "outperform" rating on shares of Sun Life Financial in a research report on Thursday, May 1st. Cormark upgraded Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research report on Thursday, February 13th. Royal Bank of Canada increased their target price on Sun Life Financial from $82.00 to $88.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. Wall Street Zen lowered shares of Sun Life Financial from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Sun Life Financial in a report on Monday, May 12th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Sun Life Financial currently has a consensus rating of "Moderate Buy" and an average target price of $88.00.

Sun Life Financial Trading Up 1.0%

The stock's 50 day simple moving average is $58.34 and its 200 day simple moving average is $58.43. The stock has a market capitalization of $36.01 billion, a P/E ratio of 16.61, a P/E/G ratio of 1.52 and a beta of 0.90.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its earnings results on Thursday, May 8th. The financial services provider reported $1.27 EPS for the quarter, beating the consensus estimate of $1.22 by $0.05. The company had revenue of $7.91 billion during the quarter, compared to analyst estimates of $6.44 billion. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. During the same period in the prior year, the company earned $1.40 earnings per share. On average, sell-side analysts expect that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Wednesday, May 28th will be given a dividend of $0.6332 per share. This represents a $2.53 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Wednesday, May 28th. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.59. Sun Life Financial's payout ratio is 62.09%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Human Investing LLC acquired a new stake in Sun Life Financial during the fourth quarter valued at approximately $26,000. Investment Management Corp VA ADV raised its stake in shares of Sun Life Financial by 164.5% in the 1st quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 385 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in 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 purchasing an additional 231 shares during the period. Asset Planning Inc acquired a new position in Sun Life Financial during the fourth quarter valued at approximately $40,000. Finally, BankPlus Trust Department bought a new position in shares of Sun Life Financial in the fourth quarter valued at approximately $40,000. 52.26% of the stock is currently owned by institutional investors.

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.

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