Analysts Set Sun Life Financial Inc. (NYSE:SLF) PT at $86.50

Shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) have earned an average rating of “Hold” from the thirteen research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $86.50.

SLF has been the topic of several recent research reports. TD Securities raised Sun Life Financial from a “hold” rating to a “buy” rating in a report on Tuesday, October 7th. UBS Group initiated coverage on shares of Sun Life Financial in a report on Thursday, October 16th. They set a “neutral” rating for the company. Weiss Ratings restated a “buy (b)” rating on shares of Sun Life Financial in a report on Wednesday, October 8th. Morgan Stanley set a $89.00 price target on Sun Life Financial in a report on Tuesday, October 7th. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Sun Life Financial in a research note on Thursday, October 9th.

Hedge Funds Weigh In On Sun Life Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC increased its holdings in shares of Sun Life Financial by 16.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,302 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 186 shares during the period. HB Wealth Management LLC lifted its position in Sun Life Financial by 5.8% during the 3rd quarter. HB Wealth Management LLC now owns 3,777 shares of the financial services provider’s stock worth $227,000 after buying an additional 208 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Sun Life Financial by 1.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,916 shares of the financial services provider’s stock valued at $824,000 after purchasing an additional 222 shares during the last quarter. Westside Investment Management Inc. boosted its position in Sun Life Financial by 62.8% in the 2nd quarter. Westside Investment Management Inc. now owns 578 shares of the financial services provider’s stock valued at $38,000 after buying an additional 223 shares during the last quarter. Finally, Addison Advisors LLC lifted its holdings in Sun Life Financial by 48.8% in the second quarter. Addison Advisors LLC now owns 704 shares of the financial services provider’s stock valued at $47,000 after buying an additional 231 shares during the period. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Down 1.8%

NYSE:SLF opened at $61.43 on Friday. The business’s 50 day moving average is $60.40 and its two-hundred day moving average is $60.51. Sun Life Financial has a 52 week low of $52.44 and a 52 week high of $66.81. The company has a market cap of $34.13 billion, a PE ratio of 16.34 and a beta of 0.87.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. The business had revenue of $944.53 million during the quarter, compared to the consensus estimate of $944.53 million. Sun Life Financial had a return on equity of 16.93% and a net margin of 7.53%.During the same period in the previous year, the business earned $2.33 EPS. As a group, sell-side analysts expect that Sun Life Financial will post 5.19 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, November 26th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 6.0%. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.64. The ex-dividend date was Wednesday, November 26th. Sun Life Financial’s dividend payout ratio is 69.68%.

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.