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

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) has earned a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $86.50.

SLF has been the topic of a number of research analyst reports. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Sun Life Financial in a research report on Friday, May 8th. Royal Bank Of Canada restated a “sector perform” rating on shares of Sun Life Financial in a research report on Friday, February 13th. TD Securities restated a “buy” rating on shares of Sun Life Financial in a research report on Thursday, May 7th. BMO Capital Markets restated an “outperform” rating on shares of Sun Life Financial in a research report on Friday, May 8th. Finally, Evercore restated an “outperform” rating on shares of Sun Life Financial in a research report on Thursday, February 19th.

Sun Life Financial Trading Up 0.6%

NYSE SLF opened at $73.93 on Wednesday. The firm has a market capitalization of $40.96 billion, a price-to-earnings ratio of 19.05 and a beta of 0.89. The firm’s 50 day simple moving average is $69.91 and its 200 day simple moving average is $65.29. Sun Life Financial has a 1 year low of $56.22 and a 1 year high of $74.68.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.03. Sun Life Financial had a net margin of 7.85% and a return on equity of 17.80%. The business had revenue of $6.41 billion for the quarter, compared to analyst estimates of $925.99 million. During the same quarter last year, the business posted $1.82 EPS. On average, equities research analysts forecast that Sun Life Financial will post 5.72 earnings per share for the current year.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, May 27th will be given a $0.96 dividend. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.92. This represents a $3.84 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Wednesday, May 27th. Sun Life Financial’s dividend payout ratio (DPR) is 72.94%.

Institutional Trading of Sun Life Financial

Hedge funds have recently added to or reduced their stakes in the stock. Cassaday & Co Wealth Management LLC acquired a new stake in Sun Life Financial in the first quarter valued at approximately $25,000. Cornerstone Planning Group LLC raised its stake in shares of Sun Life Financial by 68.4% during the fourth 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 last quarter. Brown Brothers Harriman & Co. bought a new position in shares of Sun Life Financial during the fourth quarter valued at $30,000. Sittner & Nelson LLC bought a new position in shares of Sun Life Financial during the fourth quarter valued at $33,000. Finally, Scarborough Advisors LLC bought a new position in shares of Sun Life Financial during the first quarter valued at $33,000. Institutional investors and hedge funds 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.