Sun Life Financial (NYSE:SLF) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $74.07 and traded as high as $81.41. Sun Life Financial shares last traded at $80.8790, with a volume of 310,684 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on SLF shares. TD Securities reaffirmed a “buy” rating on shares of Sun Life Financial in a report on Friday, August 7th. Barclays reaffirmed an “underweight” rating on shares of Sun Life Financial in a report on Friday, August 7th. Wall Street Zen upgraded Sun Life Financial from a “sell” rating to a “hold” rating in a research report on Sunday, July 26th. Weiss Ratings raised Sun Life Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, August 31st. Finally, Royal Bank Of Canada increased their target price on Sun Life Financial from $98.00 to $119.00 and gave the company a “sector perform” rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $98.67.

Sun Life Financial Stock Up 0.5%

The firm has a 50-day moving average price of $80.68 and a two-hundred day moving average price of $74.12. The firm has a market cap of $45.19 billion, a PE ratio of 19.00, a P/E/G ratio of 2.01 and a beta of 0.87.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Thursday, August 6th. The financial services provider reported $1.46 EPS for the quarter, beating the consensus estimate of $1.39 by $0.07. The firm had revenue of $10.10 billion during the quarter, compared to the consensus estimate of $994.33 million. Sun Life Financial had a return on equity of 17.96% and a net margin of 7.66%. Research analysts forecast that Sun Life Financial Inc. will post 5.74 earnings per share for the current fiscal year.

Sun Life Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Wednesday, August 26th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Wednesday, August 26th. Sun Life Financial’s payout ratio is currently 64.02%.

Institutional Trading of Sun Life Financial

Institutional investors have recently made changes to their positions in the company. Bank of Nova Scotia acquired a new position in shares of Sun Life Financial in the second quarter valued at approximately $544,052,000. Norges Bank acquired a new position in shares of Sun Life Financial in the fourth quarter worth $398,037,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Sun Life Financial during the second quarter worth $293,050,000. Canada Pension Plan Investment Board purchased a new stake in shares of Sun Life Financial during the second quarter worth $292,980,000. Finally, Legal & General Group Plc acquired a new stake in shares of Sun Life Financial in the second quarter valued at $280,312,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

About Sun Life Financial

Sun Life Financial Inc is a Canada-based financial services company that provides insurance, wealth, and asset management products to individuals, businesses, and institutions. Its offerings include life, health, and dental insurance; retirement and investment solutions; group benefits; and financial planning services.

Through its asset management operations, Sun Life serves institutional and individual investors with investment management and related advisory services. The company also provides workplace benefit and retirement programs designed to support employers and their employees.

Founded in 1865, Sun Life serves customers in Canada, the United States, the United Kingdom, and several markets in Asia.