Sun Life Financial Inc. (NYSE:SLF) Stock Has Average Price Target of $103.50

Shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) have earned an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $103.50.

Several research analysts have commented on the stock. Argus raised their price target on shares of Sun Life Financial from $81.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Wall Street Zen upgraded Sun Life Financial from a “sell” rating to a “hold” rating in a research report on Sunday, July 26th. Evercore lowered Sun Life Financial from an “outperform” rating to an “in-line” rating in a research note on Monday, July 13th. Scotiabank reaffirmed a “sector perform” rating on shares of Sun Life Financial in a research note on Monday, August 10th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Sun Life Financial in a research note on Wednesday, September 2nd.

Sun Life Financial Stock Performance

Shares of Sun Life Financial stock opened at $78.53 on Tuesday. The stock has a market capitalization of $43.67 billion, a P/E ratio of 13.94, a P/E/G ratio of 1.93 and a beta of 0.89. Sun Life Financial has a 52-week low of $57.22 and a 52-week high of $84.38. The stock’s 50-day simple moving average is $79.45 and its 200 day simple moving average is $76.20.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.07. Sun Life Financial had a return on equity of 17.96% and a net margin of 7.66%. The business had revenue of $10.10 billion during the quarter, compared to analyst estimates of $994.33 million. Equities research analysts forecast that Sun Life Financial will post 5.77 EPS for the current fiscal year.

Sun Life Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Wednesday, August 26th were given a dividend of C$0.96 per share. The ex-dividend date was Wednesday, August 26th. This represents a $3.84 annualized dividend and a dividend yield of 4.9%. Sun Life Financial’s dividend payout ratio is 64.02%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Cassaday & Co Wealth Management LLC bought a new stake in Sun Life Financial during the 1st quarter valued at $25,000. First Bancorp Inc ME bought a new stake in shares of Sun Life Financial in the second quarter worth about $35,000. Scarborough Advisors LLC bought a new stake in shares of Sun Life Financial in the first quarter worth about $33,000. Capital Analysts LLC bought a new stake in shares of Sun Life Financial in the second quarter worth about $58,000. Finally, Danske Bank A S purchased a new position in Sun Life Financial during the 2nd quarter valued at about $79,000. 52.26% of the stock is owned by institutional investors.

About Sun Life Financial

Sun Life Financial Inc is a Canadian financial services company that provides insurance, wealth, and asset management products to individuals, businesses, and institutions. The company serves clients through operations in Canada, the United States, and several markets in Asia.

Its insurance offerings include life, health, dental, disability, long-term care, and critical illness coverage, as well as annuities and employee benefits. Sun Life also provides retirement savings and investment products, including mutual funds and other wealth solutions for individuals and workplace plan members.

Through its asset management businesses, Sun Life manages investments for institutional and retail clients across a range of asset classes.