Credit Suisse Group AG began coverage on shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in a research note published on Monday morning. The brokerage issued an outperform rating on the stock.

Other equities analysts have also issued research reports about the stock. Morgan Stanley reaffirmed a hold rating on shares of Sun Life Financial in a report on Sunday, August 14th. Scotiabank reiterated an outperform rating and issued a $46.00 price target (down previously from $48.00) on shares of Sun Life Financial in a report on Saturday, August 13th. TD Securities reissued a buy rating and issued a $47.00 price target on shares of Sun Life Financial in a research note on Saturday, August 13th. Zacks Investment Research upgraded Sun Life Financial from a hold rating to a buy rating and set a $37.00 price objective on the stock in a report on Monday, July 18th. Finally, BMO Capital Markets reiterated a hold rating on shares of Sun Life Financial in a report on Friday, November 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $45.25.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders 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 is an increase 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 3.30%. Sun Life Financial’s payout ratio is currently 44.13%.

Institutional investors have recently made changes to their positions in the stock. Lingohr & Partner Asset Management GmbH acquired a new position in shares of Sun Life Financial during the second quarter worth about $1,845,000. 1st Global Advisors Inc. increased its position in shares of Sun Life Financial by 23.1% in the second quarter. 1st Global Advisors Inc. now owns 9,832 shares of the company’s stock worth $323,000 after buying an additional 1,846 shares during the period. Pennsylvania Trust Co increased its position in shares of Sun Life Financial by 4.4% in the second quarter. Pennsylvania Trust Co now owns 7,983 shares of the company’s stock worth $262,000 after buying an additional 333 shares during the period. Cribstone Capital Management LLC acquired a new position in shares of Sun Life Financial during the second quarter worth about $147,000. Finally, Americafirst Capital Management LLC acquired a new position in shares of Sun Life Financial during the second quarter worth about $110,000. 42.67% of the stock is owned by hedge funds and other institutional investors.

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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