Sun Life Financial (NYSE:SLF) Stock Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Price action: Sun Life's stock recently crossed above its 200‑day moving average (200‑day MA $62.48), trading as high as $70.50 and last at $70.28 on volume ~1.32M shares.
• Analyst stance: Broker views are mixed and MarketBeat's consensus is a "Hold" with an average price target of $86.50 (ratings range from Strong Buy to Sell).
• Fundamentals & income: Q2 EPS of $1.41 topped estimates, the company has a $38.94B market cap and a P/E of 15.97, and it pays a $3.68 annualized dividend for a ~5.2% yield (payout ratio ~61%).

Sun Life Financial Inc. (NYSE:SLF - Get Free Report) TSE: SLF's stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $62.48 and traded as high as $70.50. Sun Life Financial shares last traded at $70.28, with a volume of 1,319,300 shares changing hands.

Wall Street Analyst Weigh In

SLF has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Sun Life Financial from a "buy" rating to a "hold" rating in a research report on Sunday, March 8th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Sun Life Financial in a research report on Friday, February 13th. TD Securities reiterated a "buy" rating on shares of Sun Life Financial in a research note on Thursday, February 12th. Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of Sun Life Financial in a research report on Thursday, January 8th. Finally, Evercore reaffirmed an "outperform" rating on shares of Sun Life Financial in a report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $86.50.

Sun Life Financial Price Performance

The firm has a market capitalization of $38.94 billion, a price-to-earnings ratio of 15.97 and a beta of 0.87. The business has a 50 day moving average of $64.87 and a 200 day moving average of $62.48.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.06. Sun Life Financial had a net margin of 8.48% and a return on equity of 17.76%. The firm had revenue of $973.53 million for the quarter, compared to the consensus estimate of $973.53 million. During the same quarter in the previous year, the company earned $1.68 earnings per share. On average, sell-side analysts forecast that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Wednesday, February 25th were paid a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $3.68 dividend on an annualized basis and a yield of 5.2%. Sun Life Financial's payout ratio is presently 61.36%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Intact Investment Management Inc. lifted its position in shares of Sun Life Financial by 226.8% during the 3rd quarter. Intact Investment Management Inc. now owns 1,270,947 shares of the financial services provider's stock worth $76,327,000 after buying an additional 882,070 shares during the period. Nicola Wealth Management LTD. grew its position in Sun Life Financial by 28.7% in the third quarter. Nicola Wealth Management LTD. now owns 356,800 shares of the financial services provider's stock valued at $21,427,000 after acquiring an additional 79,500 shares during the period. Citigroup Inc. grew its position in Sun Life Financial by 117.7% in the third quarter. Citigroup Inc. now owns 372,723 shares of the financial services provider's stock valued at $22,386,000 after acquiring an additional 201,485 shares during the period. JPMorgan Chase & Co. raised its stake in Sun Life Financial by 9.8% during the third quarter. JPMorgan Chase & Co. now owns 2,733,974 shares of the financial services provider's stock worth $164,120,000 after acquiring an additional 243,323 shares in the last quarter. Finally, Achmea Investment Management B.V. acquired a new position in Sun Life Financial during the third quarter worth $2,341,000. Institutional investors own 52.26% of the company's stock.

Sun Life Financial Company Profile

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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