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

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) has earned a consensus rating of “Hold” from the eleven analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $86.50.

A number of research analysts have recently commented on SLF shares. National Bank Financial reissued a “sector perform” rating on shares of Sun Life Financial in a research report on Thursday, November 6th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $84.00 price target on shares of Sun Life Financial in a research note on Monday, November 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Sun Life Financial in a research report on Wednesday, January 21st. Barclays restated an “underweight” rating on shares of Sun Life Financial in a research note on Thursday, January 8th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Sun Life Financial in a research note on Thursday, February 5th.

Sun Life Financial Stock Up 5.0%

Shares of SLF stock traded up $3.25 during mid-day trading on Thursday, reaching $68.16. The company’s stock had a trading volume of 409,871 shares, compared to its average volume of 485,318. The firm has a market capitalization of $37.75 billion, a PE ratio of 18.05 and a beta of 0.88. The company’s 50 day simple moving average is $62.39 and its 200-day simple moving average is $60.60. Sun Life Financial has a 12-month low of $52.44 and a 12-month high of $68.35.

Sun Life Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, February 25th will be paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Wednesday, February 25th. Sun Life Financial’s dividend payout ratio is 69.68%.

Institutional Trading of Sun Life Financial

Several institutional investors have recently added to or reduced their stakes in SLF. Cornerstone Planning Group LLC grew its holdings in Sun Life Financial by 68.4% during the 4th quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 167 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Sun Life Financial by 16.7% during the third 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 last quarter. HB Wealth Management LLC grew its stake in Sun Life Financial by 5.1% in the fourth quarter. HB Wealth Management LLC now owns 3,971 shares of the financial services provider’s stock worth $248,000 after purchasing an additional 194 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Sun Life Financial by 1.7% in 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 buying an additional 222 shares during the last quarter. Finally, Westside Investment Management Inc. raised its stake in Sun Life Financial by 62.8% during the second 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 in the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

About Sun Life Financial

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.