Sun Life Financial Inc. (NYSE:SLF) Given Consensus Recommendation of “Moderate Buy” by Brokerages

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Shares of Sun Life Financial Inc. (NYSE:SLFGet Rating) (TSE:SLF) have been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $72.23.

SLF has been the topic of several recent research reports. Desjardins cut their price target on Sun Life Financial from C$77.00 to C$73.00 in a report on Monday, May 16th. TD Securities cut their price target on Sun Life Financial from C$72.00 to C$68.00 in a report on Wednesday, June 1st. Barclays started coverage on Sun Life Financial in a report on Thursday, June 9th. They set an “overweight” rating and a $71.00 price target on the stock. BMO Capital Markets lowered their price objective on Sun Life Financial from C$75.00 to C$72.00 in a research report on Wednesday, June 1st. Finally, StockNews.com started coverage on Sun Life Financial in a research report on Thursday, March 31st. They set a “hold” rating for the company.

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Shares of NYSE SLF opened at $46.38 on Friday. The stock’s 50-day moving average is $48.16 and its two-hundred day moving average is $52.59. Sun Life Financial has a 1-year low of $43.80 and a 1-year high of $58.49. The company has a market cap of $27.18 billion, a price-to-earnings ratio of 8.87, a price-to-earnings-growth ratio of 1.07 and a beta of 1.06.

Sun Life Financial (NYSE:SLFGet Rating) (TSE:SLF) last issued its quarterly earnings results on Wednesday, May 11th. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.03. Sun Life Financial had a return on equity of 13.66% and a net margin of 11.38%. The company had revenue of $300.00 million for the quarter. Analysts anticipate that Sun Life Financial will post 4.77 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 1st were given a $0.537 dividend. The ex-dividend date was Tuesday, May 31st. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.52. This represents a $2.15 dividend on an annualized basis and a dividend yield of 4.63%. Sun Life Financial’s dividend payout ratio is 41.68%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Brinker Capital Investments LLC boosted its position in shares of Sun Life Financial by 1.4% in the 4th quarter. Brinker Capital Investments LLC now owns 12,828 shares of the financial services provider’s stock valued at $714,000 after purchasing an additional 173 shares during the period. JCIC Asset Management Inc. boosted its position in shares of Sun Life Financial by 0.8% in the 1st quarter. JCIC Asset Management Inc. now owns 26,721 shares of the financial services provider’s stock valued at $1,492,000 after purchasing an additional 205 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Sun Life Financial by 8.9% in the 4th quarter. Quadrant Capital Group LLC now owns 2,735 shares of the financial services provider’s stock valued at $152,000 after purchasing an additional 224 shares during the period. Cetera Advisor Networks LLC boosted its position in shares of Sun Life Financial by 2.4% in the 1st quarter. Cetera Advisor Networks LLC now owns 10,835 shares of the financial services provider’s stock valued at $605,000 after purchasing an additional 250 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Sun Life Financial by 1.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 20,691 shares of the financial services provider’s stock valued at $1,152,000 after purchasing an additional 264 shares during the period. 47.14% of the stock is owned by hedge funds and other institutional investors.

About Sun Life Financial (Get Rating)

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company also provides reinsurance products; investment counselling and portfolio management services; mutual funds and segregated funds; trust and banking services; real estate property brokerage and appraisal services; and merchant banking services.

Further Reading

Analyst Recommendations for Sun Life Financial (NYSE:SLF)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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