Sun Life Financial Inc. (NYSE:SLF) – Equities researchers at Desjardins reduced their Q4 2016 earnings per share estimates for shares of Sun Life Financial in a note issued to investors on Wednesday. Desjardins analyst D. Young now anticipates that the brokerage will earn $0.70 per share for the quarter, down from their prior forecast of $0.71. Desjardins also issued estimates for Sun Life Financial’s FY2017 earnings at $3.05 EPS and FY2018 earnings at $3.26 EPS.

Other research analysts have also recently issued reports about the company. RBC Capital Markets reiterated an “outperform” rating and set a $53.00 price target (up from $45.00) on shares of Sun Life Financial in a research report on Friday. BMO Capital Markets reiterated a “hold” rating on shares of Sun Life Financial in a research report on Friday. Morgan Stanley reiterated a “hold” rating on shares of Sun Life Financial in a research report on Sunday, August 14th. TD Securities reiterated a “buy” rating and set a $47.00 price target on shares of Sun Life Financial in a research report on Saturday, August 13th. Finally, Scotiabank reiterated an “outperform” rating and set a $46.00 price target (down from $48.00) on shares of Sun Life Financial in a research report on Saturday, August 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $45.25.

Earnings History and Estimates for Sun Life Financial (NYSE:SLF)

Sun Life Financial (NYSE:SLF) opened at 37.43 on Friday. Sun Life Financial has a 1-year low of $25.31 and a 1-year high of $38.27. The stock has a market capitalization of $22.99 billion, a P/E ratio of 13.47 and a beta of 1.17. The firm’s 50 day moving average is $33.24 and its 200 day moving average is $32.98.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Wednesday, November 30th will be paid a $0.3134 dividend. The ex-dividend date is Monday, November 28th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.31. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.35%. Sun Life Financial’s payout ratio is currently 44.13%.

Hedge funds have recently modified their holdings of the company. Lincluden Management Ltd. raised its stake in shares of Sun Life Financial by 15.8% in the second quarter. Lincluden Management Ltd. now owns 653,944 shares of the company’s stock worth $21,474,000 after buying an additional 89,135 shares in the last quarter. Todd Asset Management LLC raised its stake in shares of Sun Life Financial by 33.1% in the second quarter. Todd Asset Management LLC now owns 733,152 shares of the company’s stock worth $24,070,000 after buying an additional 182,199 shares in the last quarter. Nationwide Fund Advisors purchased a new stake in shares of Sun Life Financial during the second quarter worth about $820,000. Janney Montgomery Scott LLC raised its stake in shares of Sun Life Financial by 89.0% in the second quarter. Janney Montgomery Scott LLC now owns 19,925 shares of the company’s stock worth $637,000 after buying an additional 9,384 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. raised its stake in shares of Sun Life Financial by 8.1% in the second quarter. NN Investment Partners Holdings N.V. now owns 43,170 shares of the company’s stock worth $1,417,000 after buying an additional 3,251 shares in the last quarter. 42.74% of the stock is currently owned by hedge funds and other institutional investors.

About Sun Life Financial

Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services organization providing a range of protection and wealth products and services. It operates in five segments: Sun Life Financial Canada (SLF Canada), Sun Life Financial United States (SLF U.S.), Sun Life Financial Asset Management (SLF Asset Management), Sun Life Financial Asia (SLF Asia) and Corporate.

5 Day Chart for NYSE:SLF

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