Sun Life Financial Inc. (NYSE:SLF) Receives $86.50 Average PT from Brokerages

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) has received an average recommendation of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $86.50.

A number of research analysts have recently commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Sun Life Financial in a report on Wednesday, January 21st. Wall Street Zen cut shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. TD Securities restated a “buy” rating on shares of Sun Life Financial in a research note on Thursday, February 12th. Royal Bank Of Canada restated a “sector perform” rating on shares of Sun Life Financial in a research note on Friday, February 13th. Finally, Evercore reaffirmed an “outperform” rating on shares of Sun Life Financial in a research note on Thursday, February 19th.

Institutional Investors Weigh In On Sun Life Financial

Hedge funds have recently made changes to their positions in the company. Cornerstone Planning Group LLC increased its stake in shares of Sun Life Financial by 68.4% during the fourth quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider’s stock valued at $26,000 after buying an additional 167 shares during the period. Farther Finance Advisors LLC lifted its stake in Sun Life Financial by 16.7% in the third quarter. Farther Finance Advisors LLC now owns 1,302 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 186 shares during the period. HB Wealth Management LLC grew its holdings in Sun Life Financial by 5.1% during the 4th quarter. HB Wealth Management LLC now owns 3,971 shares of the financial services provider’s stock worth $248,000 after acquiring an additional 194 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Sun Life Financial by 1.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,916 shares of the financial services provider’s stock worth $824,000 after acquiring an additional 222 shares in the last quarter. Finally, Westside Investment Management Inc. increased its position in Sun Life Financial by 38.6% during the 3rd quarter. Westside Investment Management Inc. now owns 801 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 223 shares during the period. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Sun Life Financial Stock Up 0.0%

SLF opened at $61.39 on Friday. The business has a fifty day moving average of $64.35 and a 200 day moving average of $61.89. The stock has a market cap of $34.00 billion, a P/E ratio of 13.95 and a beta of 0.87. Sun Life Financial has a 52-week low of $52.44 and a 52-week high of $69.67.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Wednesday, February 11th. The financial services provider reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.06. Sun Life Financial had a return on equity of 17.76% and a net margin of 8.48%.The business had revenue of $973.53 million for the quarter, compared to analyst estimates of $973.53 million. During the same quarter last year, the firm posted $1.68 earnings per share. Equities analysts anticipate that Sun Life Financial will post 5.19 EPS for the current fiscal year.

Sun Life Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, February 25th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 6.0%. The ex-dividend date is Wednesday, February 25th. Sun Life Financial’s dividend payout ratio (DPR) is presently 61.36%.

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.