Sun Life Financial Inc. (NYSE:SLF – Get Free Report) (TSE:SLF) shares saw unusually-high trading volume on Tuesday . Approximately 5,711,651 shares traded hands during trading, an increase of 772% from the previous session’s volume of 655,261 shares.The stock last traded at $73.10 and had previously closed at $73.08.
Wall Street Analysts Forecast Growth
SLF has been the topic of several recent analyst reports. Scotiabank restated a “sector perform” rating on shares of Sun Life Financial in a report on Wednesday, April 29th. Wall Street Zen lowered Sun Life Financial from a “hold” rating to a “sell” rating in a research report on Saturday. TD Securities reiterated a “buy” rating on shares of Sun Life Financial in a research report on Thursday, May 7th. National Bank Financial upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Friday, April 24th. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Sun Life Financial in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.50.
View Our Latest Stock Analysis on Sun Life Financial
Sun Life Financial Trading Down 0.1%
Sun Life Financial (NYSE:SLF – Get Free Report) (TSE:SLF) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.38 EPS for the quarter, topping the consensus estimate of $1.35 by $0.03. Sun Life Financial had a return on equity of 17.80% and a net margin of 7.85%.The business had revenue of $6.41 billion for the quarter, compared to analyst estimates of $925.99 million. During the same quarter in the prior year, the firm posted $1.82 EPS. On average, equities analysts expect that Sun Life Financial Inc. will post 5.74 earnings per share for the current year.
Sun Life Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, May 27th will be given a $0.96 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $3.84 annualized dividend and a yield of 5.3%. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.92. Sun Life Financial’s payout ratio is currently 69.59%.
Institutional Investors Weigh In On Sun Life Financial
Several hedge funds have recently bought and sold shares of SLF. Norges Bank purchased a new position in shares of Sun Life Financial during the 4th quarter valued at approximately $398,037,000. Morgan Stanley lifted its position in shares of Sun Life Financial by 86.6% during the 4th quarter. Morgan Stanley now owns 3,952,646 shares of the financial services provider’s stock valued at $246,645,000 after buying an additional 1,834,772 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Sun Life Financial by 2,187.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,601,200 shares of the financial services provider’s stock valued at $100,276,000 after buying an additional 1,531,200 shares in the last quarter. Bank of Nova Scotia lifted its position in shares of Sun Life Financial by 27.1% during the 4th quarter. Bank of Nova Scotia now owns 5,991,249 shares of the financial services provider’s stock valued at $373,984,000 after buying an additional 1,277,583 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Sun Life Financial by 123.4% during the 4th quarter. Wellington Management Group LLP now owns 2,245,209 shares of the financial services provider’s stock valued at $140,339,000 after buying an additional 1,240,241 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.
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.
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