UBS Group Initiates Coverage on Sun Life Financial (NYSE:SLF)

Key Points

• UBS Group has initiated coverage on Sun Life Financial (NYSE:SLF) with a neutral rating for the financial services provider's stock.
• Multiple analysts have adjusted their ratings on SLF, with TD Securities upgrading it from "hold" to "buy", while the stock currently holds a consensus rating of "Moderate Buy".
• Sun Life Financial's recent quarterly earnings met expectations, reporting $1.29 earnings per share, with revenue of $6.65 billion, which was below analyst estimates.

Equities researchers at UBS Group began coverage on shares of Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF in a report released on Thursday,Briefing.com Automated Import reports. The brokerage set a "neutral" rating on the financial services provider's stock.

A number of other research analysts also recently issued reports on SLF. TD Securities raised shares of Sun Life Financial from a "hold" rating to a "buy" rating in a research report on Tuesday, October 7th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Sun Life Financial in a research report on Wednesday, October 8th. Scotiabank raised shares of Sun Life Financial to a "hold" rating in a research report on Thursday, July 31st. Barclays reaffirmed an "underweight" rating on shares of Sun Life Financial in a research report on Wednesday, October 8th. Finally, Argus raised shares of Sun Life Financial to a "strong-buy" rating in a research report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $88.50.

Sun Life Financial Price Performance

Shares of Sun Life Financial stock traded down $0.91 during trading on Thursday, hitting $61.26. The stock had a trading volume of 82,246 shares, compared to its average volume of 655,564. The firm's fifty day simple moving average is $59.24 and its 200-day simple moving average is $60.68. The stock has a market cap of $37.64 billion, a PE ratio of 15.16, a PEG ratio of 1.68 and a beta of 0.90. Sun Life Financial has a 12 month low of $52.44 and a 12 month high of $66.81.

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

Institutional Investors Weigh In On Sun Life Financial

Several institutional investors and hedge funds have recently made changes to their positions in SLF. Private Trust Co. NA raised its position in shares of Sun Life Financial by 130.6% during the 2nd quarter. Private Trust Co. NA now owns 429 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 243 shares in the last quarter. Investment Management Corp VA ADV increased its position in 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 increased its position in 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. increased its position in 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 acquired a new stake in Sun Life Financial in the second quarter worth $44,000. 52.26% of the stock is owned by institutional investors and hedge funds.

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.

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