Sun Life Financial Inc. (NYSE:SLF) Given Average Rating of “Hold” by Brokerages

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) has been assigned an average recommendation of “Hold” from the eleven analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $86.50.

A number of research firms have weighed in on SLF. BMO Capital Markets restated an “outperform” rating on shares of Sun Life Financial in a report on Friday, February 13th. Scotiabank reissued a “sector perform” rating on shares of Sun Life Financial in a research report on Thursday, February 5th. Wall Street Zen cut Sun Life Financial from a “buy” rating to a “hold” rating in a research note 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. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Sun Life Financial in a research note on Thursday, January 8th.

Sun Life Financial Stock Performance

NYSE:SLF opened at $62.49 on Friday. The firm has a 50-day simple moving average of $64.38 and a 200-day simple moving average of $61.83. Sun Life Financial has a one year low of $52.44 and a one year high of $69.67. The firm has a market cap of $34.61 billion, a P/E ratio of 14.20 and a beta of 0.87.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.06. The firm had revenue of $973.53 million for the quarter, compared to the consensus estimate of $973.53 million. Sun Life Financial had a net margin of 8.48% and a return on equity of 17.76%. During the same period last year, the firm earned $1.68 earnings per share. On average, research analysts predict that Sun Life Financial will post 5.19 EPS for the current fiscal year.

Sun Life Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, February 25th will be given a $0.92 dividend. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.9%. Sun Life Financial’s payout ratio is presently 61.36%.

Institutional Investors Weigh In On Sun Life Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Cornerstone Planning Group LLC increased its position in shares of Sun Life Financial by 68.4% in the 4th quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 167 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Sun Life Financial by 16.7% during the third quarter. Farther Finance Advisors LLC now owns 1,302 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 186 shares during the period. HB Wealth Management LLC boosted its position in Sun Life Financial by 5.1% in the fourth quarter. HB Wealth Management LLC now owns 3,971 shares of the financial services provider’s stock valued at $248,000 after buying an additional 194 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Sun Life Financial by 1.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,916 shares of the financial services provider’s stock worth $824,000 after buying an additional 222 shares during the period. Finally, Westside Investment Management Inc. raised its position in Sun Life Financial by 38.6% during the 3rd quarter. Westside Investment Management Inc. now owns 801 shares of the financial services provider’s stock worth $48,000 after buying an additional 223 shares during the last quarter. Hedge funds and other 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.