Sun Life Financial Inc. (NYSE:SLF) Receives Consensus Recommendation of “Hold” from Brokerages

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) has earned an average rating of “Hold” from the eleven ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $86.50.

Several research firms recently weighed in on SLF. BMO Capital Markets reaffirmed an “outperform” rating on shares of Sun Life Financial in a research note on Friday, February 13th. National Bank Financial reissued a “sector perform” rating on shares of Sun Life Financial in a report on Thursday, November 6th. Scotiabank reaffirmed a “sector perform” rating on shares of Sun Life Financial in a report on Thursday, February 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Sun Life Financial in a research report on Wednesday, January 21st. Finally, Wall Street Zen raised shares of Sun Life Financial from a “hold” rating to a “buy” rating in a research note on Saturday.

Sun Life Financial Stock Up 0.3%

SLF stock opened at $65.56 on Monday. The company’s 50-day moving average price is $63.98 and its two-hundred day moving average price is $61.16. The firm has a market cap of $36.31 billion, a P/E ratio of 14.90 and a beta of 0.87. Sun Life Financial has a 12 month low of $52.44 and a 12 month high of $69.67.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $1.41 EPS for the quarter, beating the consensus estimate 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 business had revenue of $973.53 million during the quarter, compared to the consensus estimate of $973.53 million. During the same period in the previous year, the business earned $1.68 earnings per share. Equities analysts predict that Sun Life Financial will post 5.19 EPS for the current year.

Sun Life Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Wednesday, February 25th will be issued a dividend of $0.92 per share. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $3.68 annualized dividend and a dividend yield of 5.6%. Sun Life Financial’s dividend payout ratio (DPR) is 60.91%.

Hedge Funds Weigh In On Sun Life Financial

Large investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in Sun Life Financial during the fourth quarter worth approximately $398,037,000. Morgan Stanley boosted its holdings in shares of Sun Life Financial by 86.6% during the 4th quarter. Morgan Stanley now owns 3,952,646 shares of the financial services provider’s stock worth $246,645,000 after buying an additional 1,834,772 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of Sun Life Financial during the 2nd quarter worth approximately $87,660,000. Bank of Nova Scotia increased its stake in shares of Sun Life Financial by 27.1% in the 4th quarter. Bank of Nova Scotia now owns 5,991,249 shares of the financial services provider’s stock valued at $373,984,000 after acquiring an additional 1,277,583 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Sun Life Financial by 123.4% during the 4th quarter. Wellington Management Group LLP now owns 2,245,209 shares of the financial services provider’s stock valued at $140,339,000 after acquiring an additional 1,240,241 shares during the period. 52.26% of the stock is currently owned by institutional investors.

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.