Sun Life Financial (NYSE:SLF) Sees Large Volume Increase

Sun Life Financial Inc. (NYSE:SLFGet Rating) (TSE:SLF) saw strong trading volume on Tuesday . 17,186 shares traded hands during mid-day trading, a decline of 98% from the previous session’s volume of 795,202 shares.The stock last traded at $46.38 and had previously closed at $46.48.

A number of equities analysts recently weighed in on the stock. Desjardins lowered their price objective on shares of Sun Life Financial from C$77.00 to C$73.00 in a research report on Monday, May 16th. Canaccord Genuity Group decreased their target price on shares of Sun Life Financial from C$75.50 to C$67.00 in a research report on Sunday, May 15th. Scotiabank decreased their target price on shares of Sun Life Financial from C$71.00 to C$67.00 in a research report on Friday, May 13th. National Bank Financial decreased their target price on shares of Sun Life Financial from C$72.00 to C$68.00 in a research report on Wednesday, June 1st. Finally, StockNews.com assumed coverage on shares of Sun Life Financial in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $72.23.

The firm has a market cap of $26.89 billion, a PE ratio of 8.89, a PEG ratio of 1.12 and a beta of 1.06. The stock has a fifty day moving average price of $50.71 and a 200-day moving average price of $53.41.

Sun Life Financial (NYSE:SLFGet Rating) (TSE:SLF) last released its quarterly earnings results on Wednesday, May 11th. The financial services provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.03. The firm had revenue of $300.00 million during the quarter. Sun Life Financial had a return on equity of 13.66% and a net margin of 11.38%. As a group, sell-side analysts forecast that Sun Life Financial Inc. will post 4.77 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 1st will be paid a dividend of $0.537 per share. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.52. This represents a $2.15 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend is Tuesday, May 31st. Sun Life Financial’s dividend payout ratio is 41.68%.

Several institutional investors have recently added to or reduced their stakes in the company. Paragon Capital Management Ltd acquired a new stake in shares of Sun Life Financial during the 4th quarter valued at approximately $26,000. Tcwp LLC acquired a new stake in Sun Life Financial in the first quarter worth $27,000. AdvisorNet Financial Inc increased its position in Sun Life Financial by 149.5% in the first quarter. AdvisorNet Financial Inc now owns 499 shares of the financial services provider’s stock worth $28,000 after buying an additional 299 shares during the period. Mark Sheptoff Financial Planning LLC acquired a new stake in Sun Life Financial in the first quarter worth $30,000. Finally, Achmea Investment Management B.V. acquired a new stake in Sun Life Financial in the first quarter worth $32,000. Institutional investors own 47.14% of the company’s stock.

About Sun Life Financial (NYSE:SLF)

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.

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