Sun Life Financial (NYSE:SLF) Share Price Crosses Above Fifty Day Moving Average – Time to Sell?

Shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $79.27 and traded as high as $79.93. Sun Life Financial shares last traded at $79.5290, with a volume of 254,135 shares traded.

Analysts Set New Price Targets

SLF has been the subject of several analyst reports. UBS Group reaffirmed a “neutral” rating on shares of Sun Life Financial in a research note on Wednesday, September 2nd. Argus upped their target price on Sun Life Financial from $81.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Weiss Ratings upgraded Sun Life Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, August 31st. TD Securities reiterated a “buy” rating on shares of Sun Life Financial in a report on Friday, August 7th. Finally, Wall Street Zen upgraded Sun Life Financial from a “sell” rating to a “hold” rating in a report on Sunday, July 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Sun Life Financial presently has an average rating of “Moderate Buy” and a consensus target price of $103.50.

Sun Life Financial Stock Performance

The firm has a market cap of $44.90 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 1.96 and a beta of 0.89. The stock has a 50 day simple moving average of $79.22 and a two-hundred day simple moving average of $73.11.

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

Sun Life Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Wednesday, August 26th were given a dividend of C$0.96 per share. This represents a $3.84 annualized dividend and a yield of 4.7%. The ex-dividend date was Wednesday, August 26th. Sun Life Financial’s dividend payout ratio (DPR) is presently 64.02%.

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. Bank of Nova Scotia acquired a new position in shares of Sun Life Financial in the second quarter valued at approximately $544,052,000. The Manufacturers Life Insurance Company acquired a new stake in Sun Life Financial during the 2nd quarter worth approximately $293,050,000. Canada Pension Plan Investment Board acquired a new stake in Sun Life Financial during the 2nd quarter worth approximately $292,980,000. Legal & General Group Plc acquired a new stake in Sun Life Financial during the 2nd quarter worth approximately $280,312,000. Finally, Wellington Management Group LLP purchased a new position in Sun Life Financial in the 2nd quarter valued at approximately $220,567,000. 52.26% of the stock is owned by hedge funds and other institutional investors.

Sun Life Financial Company Profile

Sun Life Financial Inc (NYSE: SLF) is a Canadian financial services company that provides insurance, wealth, and asset management solutions to individuals, businesses, and institutions. Its offerings include life, health, and dental insurance; retirement and savings products; investment solutions; and employee benefits.

Through its asset management businesses, Sun Life provides investment management and advisory services to institutional and retail clients. The company also offers workplace pension, group insurance, and employee wellness programs, helping employers support the financial security and health of their employees.

Founded in Montreal in 1865, Sun Life serves clients primarily in Canada, the United States, and several Asian markets, including Hong Kong, the Philippines, Indonesia, India, and Vietnam.