Sun Life Financial Inc. (NYSE:SLF) Receives $86.50 Average Target Price from Analysts

Shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) have received an average recommendation of “Hold” from the eleven research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $86.50.

Several equities analysts have recently weighed in on SLF shares. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Sun Life Financial in a research report on Thursday, January 8th. Evercore reiterated an “outperform” rating on shares of Sun Life Financial in a report on Thursday, February 19th. Barclays reissued an “underweight” rating on shares of Sun Life Financial in a research note on Thursday, January 8th. Wall Street Zen cut shares of Sun Life Financial from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Sun Life Financial in a research report on Wednesday, January 21st.

Sun Life Financial Stock Down 0.9%

Shares of Sun Life Financial stock opened at $64.90 on Monday. The business has a fifty day simple moving average of $64.25 and a 200-day simple moving average of $61.40. Sun Life Financial has a fifty-two week low of $52.44 and a fifty-two week high of $69.67. The firm has a market cap of $35.95 billion, a price-to-earnings ratio of 14.75 and a beta of 0.87.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Wednesday, February 11th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.06. Sun Life Financial had a return on equity of 17.76% and a net margin of 8.48%.The firm had revenue of $973.53 million for the quarter, compared to analyst estimates of $973.53 million. During the same period in the previous year, the company earned $1.68 earnings per share. Analysts anticipate that Sun Life Financial will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Wednesday, February 25th will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date is Wednesday, February 25th. Sun Life Financial’s payout ratio is presently 61.36%.

Institutional Investors Weigh In On Sun Life Financial

Hedge funds have recently modified their holdings of the stock. Cornerstone Planning Group LLC grew its stake 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 valued at $26,000 after purchasing an additional 167 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Sun Life Financial by 16.7% in the third quarter. Farther Finance Advisors LLC now owns 1,302 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 186 shares in the last quarter. HB Wealth Management LLC raised its position in Sun Life Financial by 5.1% in the 4th quarter. HB Wealth Management LLC now owns 3,971 shares of the financial services provider’s stock worth $248,000 after purchasing an additional 194 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Sun Life Financial by 1.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,916 shares of the financial services provider’s stock worth $824,000 after buying an additional 222 shares in the last quarter. Finally, Westside Investment Management Inc. lifted its holdings in Sun Life Financial by 62.8% during the 2nd quarter. Westside Investment Management Inc. now owns 578 shares of the financial services provider’s stock worth $38,000 after buying an additional 223 shares in the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

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.