Sun Life Financial Inc. (SLF) Downgraded to “Hold” at Canaccord Genuity
Several other brokerages have also weighed in on SLF. BMO Capital Markets reissued a hold rating on shares of Sun Life Financial in a report on Friday, November 11th. Credit Suisse Group AG began coverage on Sun Life Financial in a report on Monday. They issued an outperform rating for the company. RBC Capital Markets reissued an outperform rating and issued a $53.00 price objective (up from $45.00) on shares of Sun Life Financial in a report on Friday, November 11th. Scotiabank reissued an outperform rating and issued a $50.00 price objective (up from $46.00) on shares of Sun Life Financial in a report on Tuesday, November 8th. Finally, Argus reissued a buy rating and issued a $37.00 price objective on shares of Sun Life Financial in a report on Friday, September 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $45.25.
Sun Life Financial (NYSE:SLF) remained flat at $38.20 during mid-day trading on Thursday. 136,455 shares of the company traded hands. The firm has a market capitalization of $23.41 billion, a PE ratio of 13.85 and a beta of 1.17. The stock’s 50-day moving average price is $33.93 and its 200-day moving average price is $33.09. Sun Life Financial has a 12-month low of $25.31 and a 12-month high of $38.60.
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. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.28%. 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. Sun Life Financial’s dividend payout ratio is 44.13%.
Several large investors have recently made changes to their positions in SLF. Americafirst Capital Management LLC bought a new stake in shares of Sun Life Financial during the second quarter worth approximately $110,000. Riverhead Capital Management LLC raised its stake 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 last quarter. Catalyst Capital Advisors LLC acquired a new stake in Sun Life Financial during the third quarter worth about $142,000. Cribstone Capital Management LLC acquired a new stake in Sun Life Financial during the second quarter worth about $147,000. Finally, Advisory Services Network LLC raised its stake in Sun Life Financial by 0.8% in the third quarter. Advisory Services Network LLC now owns 4,991 shares of the company’s stock worth $162,000 after buying an additional 40 shares during the last quarter. Institutional investors own 42.67% of the company’s stock.
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.
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