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

Shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) have received an average rating of “Hold” from the twelve research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $86.50.

A number of equities analysts have issued reports on the stock. Scotiabank restated a “sector perform” rating on shares of Sun Life Financial in a research report on Thursday. Weiss Ratings reiterated a “buy (b)” rating on shares of Sun Life Financial in a research note on Wednesday, January 21st. National Bankshares reissued a “sector perform” rating on shares of Sun Life Financial in a research note on Thursday, November 6th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $84.00 price objective on shares of Sun Life Financial in a research note on Monday, November 10th. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Sun Life Financial in a research report on Thursday, January 8th.

Hedge Funds Weigh In On Sun Life Financial

Several hedge funds and other institutional investors have recently modified their holdings of SLF. Vanguard Group Inc. raised its holdings in Sun Life Financial by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 25,884,084 shares of the financial services provider’s stock valued at $1,615,788,000 after buying an additional 534,772 shares during the period. Bank of Nova Scotia grew its stake in Sun Life Financial by 6.5% during the second quarter. Bank of Nova Scotia now owns 6,157,205 shares of the financial services provider’s stock worth $409,576,000 after buying an additional 377,204 shares during the period. Geode Capital Management LLC increased its position in shares of Sun Life Financial by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 5,529,609 shares of the financial services provider’s stock worth $353,181,000 after acquiring an additional 347,041 shares in the last quarter. Norges Bank acquired a new position in shares of Sun Life Financial during the 2nd quarter valued at $362,886,000. Finally, Legal & General Group Plc lifted its holdings in shares of Sun Life Financial by 1.0% during the 4th quarter. Legal & General Group Plc now owns 3,896,312 shares of the financial services provider’s stock valued at $243,542,000 after acquiring an additional 36,698 shares in the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Stock Performance

Sun Life Financial stock opened at $64.50 on Thursday. Sun Life Financial has a fifty-two week low of $52.44 and a fifty-two week high of $66.81. The firm has a market capitalization of $35.72 billion, a price-to-earnings ratio of 17.15 and a beta of 0.88. The stock’s fifty day moving average is $62.09 and its two-hundred day moving average is $60.55.

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.