Sun Life Financial Inc. (NYSE:SLF) – Desjardins upped their FY2016 earnings estimates for shares of Sun Life Financial in a research report issued to clients and investors on Wednesday. Desjardins analyst D. Young now expects that the firm will earn $2.78 per share for the year, up from their prior forecast of $2.77.

Several other analysts have also recently weighed in on SLF. Zacks Investment Research raised Sun Life Financial from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Monday, July 18th. Canaccord Genuity reissued a “buy” rating and set a $46.00 price objective (down from $47.00) on shares of Sun Life Financial in a report on Thursday, August 11th. Scotiabank reissued an “outperform” rating and set a $46.00 price objective (down from $48.00) on shares of Sun Life Financial in a report on Saturday, August 13th. TD Securities reissued a “buy” rating and set a $47.00 price objective on shares of Sun Life Financial in a report on Saturday, August 13th. Finally, Morgan Stanley reissued a “hold” rating on shares of Sun Life Financial in a report on Sunday, August 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $45.25.

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

Shares of Sun Life Financial (NYSE:SLF) opened at 37.43 on Monday. The firm has a market capitalization of $22.99 billion, a PE ratio of 13.47 and a beta of 1.17. Sun Life Financial has a 12-month low of $25.31 and a 12-month high of $38.27. The company’s 50 day moving average is $33.24 and its 200 day moving average is $32.98.

Institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC increased its position in Sun Life Financial by 50.4% in the third quarter. Citadel Advisors LLC now owns 46,187 shares of the company’s stock worth $1,503,000 after buying an additional 15,487 shares during the period. Morgan Stanley increased its position in Sun Life Financial by 45.7% in the third quarter. Morgan Stanley now owns 1,013,891 shares of the company’s stock worth $32,992,000 after buying an additional 318,121 shares during the period. Catalyst Capital Advisors LLC purchased a new position in Sun Life Financial during the third quarter worth $142,000. Riverhead Capital Management LLC increased its position in Sun Life Financial by 2.9% in the third quarter. Riverhead Capital Management LLC now owns 3,600 shares of the company’s stock worth $117,000 after buying an additional 102 shares during the period. Finally, Princeton Alpha Management LP increased its position in Sun Life Financial by 86.9% in the third quarter. Princeton Alpha Management LP now owns 32,230 shares of the company’s stock worth $1,049,000 after buying an additional 14,985 shares during the period. 42.74% of the stock is owned by hedge funds and other institutional investors.

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

Sun Life Financial Company Profile

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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