Sun Life Financial Inc. (NYSE:SLF) Given Consensus Rating of “Moderate Buy” by Brokerages

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) has been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $84.6667.

A number of research analysts recently commented on the company. National Bank Financial upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Friday, April 24th. TD Cowen restated a “buy” rating on shares of Sun Life Financial in a research report on Thursday, May 7th. TD Securities reaffirmed a “buy” rating on shares of Sun Life Financial in a research note on Thursday, May 7th. Argus set a $81.00 price target on Sun Life Financial in a report on Wednesday, June 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Sun Life Financial in a research report on Monday, July 6th.

Institutional Investors Weigh In On Sun Life Financial

A number of institutional investors and hedge funds have recently made changes to their positions in SLF. Cassaday & Co Wealth Management LLC purchased a new stake in Sun Life Financial in the first quarter valued at approximately $25,000. Cornerstone Planning Group LLC boosted its position 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 worth $26,000 after buying an additional 167 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in shares of Sun Life Financial in the fourth quarter valued at $30,000. Sittner & Nelson LLC acquired a new stake in shares of Sun Life Financial in the fourth quarter valued at $33,000. Finally, Scarborough Advisors LLC purchased a new stake in shares of Sun Life Financial in the 1st quarter valued at $33,000. 52.26% of the stock is owned by hedge funds and other institutional investors.

Sun Life Financial Price Performance

NYSE:SLF opened at $82.21 on Thursday. The firm has a market capitalization of $45.82 billion, a price-to-earnings ratio of 21.19 and a beta of 0.88. The company’s 50-day moving average is $77.52 and its two-hundred day moving average is $70.03. Sun Life Financial has a 1-year low of $56.22 and a 1-year high of $84.38.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.03. The business had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $925.99 million. Sun Life Financial had a net margin of 7.85% and a return on equity of 17.80%. During the same quarter in the prior year, the company posted $1.82 EPS. As a group, equities analysts anticipate that Sun Life Financial will post 5.69 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Wednesday, May 27th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 4.7%. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Wednesday, May 27th. Sun Life Financial’s payout ratio is 72.94%.

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.