Sun Life Financial’s (SLF) “Buy” Rating Reaffirmed at Barclays

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Barclays reiterated their buy rating on shares of Sun Life Financial (NYSE:SLF) (TSE:SLF) in a research report report published on Friday morning.

Other research analysts also recently issued reports about the stock. Canaccord Genuity reiterated an average rating and set a $53.00 price objective on shares of Sun Life Financial in a research note on Friday. Desjardins reiterated a buy rating on shares of Sun Life Financial in a research note on Tuesday, October 16th. Zacks Investment Research upgraded shares of Sun Life Financial from a hold rating to a buy rating and set a $44.00 price objective on the stock in a research note on Wednesday, October 10th. Finally, ValuEngine downgraded shares of Sun Life Financial from a hold rating to a sell rating in a research note on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Sun Life Financial presently has an average rating of Buy and an average target price of $53.60.

Shares of SLF stock traded down $0.32 on Friday, hitting $36.68. The stock had a trading volume of 484,584 shares, compared to its average volume of 707,455. The company has a market capitalization of $22.73 billion, a PE ratio of 11.46 and a beta of 0.83. The company has a current ratio of 4.06, a quick ratio of 4.06 and a debt-to-equity ratio of 0.20. Sun Life Financial has a 52-week low of $35.78 and a 52-week high of $44.50.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Wednesday, August 8th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.32. Sun Life Financial had a net margin of 9.24% and a return on equity of 13.44%. The business had revenue of $5.29 billion during the quarter. During the same quarter last year, the company posted $1.12 earnings per share. Equities research analysts predict that Sun Life Financial will post 3.65 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Wednesday, November 28th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.14%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.37. The ex-dividend date is Tuesday, November 27th. Sun Life Financial’s dividend payout ratio is 45.63%.

A number of hedge funds and other institutional investors have recently bought and sold shares of SLF. Moody Aldrich Partners LLC acquired a new stake in shares of Sun Life Financial during the second quarter worth $68,346,000. TRUE Private Wealth Advisors acquired a new stake in shares of Sun Life Financial during the third quarter worth $114,000. Daiwa Securities Group Inc. acquired a new stake in shares of Sun Life Financial during the second quarter worth $177,000. Tuttle Tactical Management acquired a new stake in shares of Sun Life Financial during the second quarter worth $182,000. Finally, Davis Rea LTD. acquired a new stake in shares of Sun Life Financial during the second quarter worth $216,000. Hedge funds and other institutional investors own 41.53% of the company’s stock.

Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients, high-net-worth individuals, and families. It operates through Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate segments.

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Analyst Recommendations for Sun Life Financial (NYSE:SLF)

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