Wall Street Zen lowered shares of Sun Life Financial (NYSE:SLF – Free Report) (TSE:SLF) from a hold rating to a sell rating in a research note released on Saturday morning.
Several other analysts have also recently weighed in on SLF. Evercore cut Sun Life Financial from an “outperform” rating to an “in-line” rating in a report on Monday, July 13th. Argus set a $81.00 price objective on shares of Sun Life Financial in a report on Wednesday, June 10th. BMO Capital Markets reiterated an “outperform” rating on shares of Sun Life Financial in a research report on Friday, May 8th. TD Securities reissued a “buy” rating on shares of Sun Life Financial in a report on Thursday, May 7th. Finally, Barclays restated an “underweight” rating on shares of Sun Life Financial in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.67.
Get Our Latest Research Report on Sun Life Financial
Sun Life Financial Stock Up 0.2%
Sun Life Financial (NYSE:SLF – Get Free Report) (TSE:SLF) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. The business had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $925.99 million. Sun Life Financial had a return on equity of 17.80% and a net margin of 7.85%.During the same quarter in the prior year, the firm earned $1.82 EPS. On average, research analysts anticipate that Sun Life Financial will post 5.69 earnings per share for the current fiscal year.
Sun Life Financial Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Wednesday, May 27th were paid a $0.96 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.92. This represents a $3.84 annualized dividend and a dividend yield of 4.7%. Sun Life Financial’s payout ratio is currently 72.94%.
Hedge Funds Weigh In On Sun Life Financial
A number of hedge funds and other institutional investors have recently made changes to their positions in SLF. Intact Investment Management Inc. boosted its stake in shares of Sun Life Financial by 58.3% in the 4th quarter. Intact Investment Management Inc. now owns 2,012,083 shares of the financial services provider’s stock valued at $125,598,000 after purchasing an additional 741,136 shares during the last quarter. Vanguard Group Inc. raised its stake in Sun Life Financial by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 25,884,084 shares of the financial services provider’s stock worth $1,615,788,000 after buying an additional 534,772 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in Sun Life Financial by 8.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 329,274 shares of the financial services provider’s stock valued at $20,582,000 after buying an additional 25,540 shares during the period. Legal & General Group Plc lifted its holdings in Sun Life Financial by 1.0% in the fourth quarter. Legal & General Group Plc now owns 3,896,312 shares of the financial services provider’s stock valued at $243,542,000 after buying an additional 36,698 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its position in Sun Life Financial by 1,342.4% during the first quarter. Hillsdale Investment Management Inc. now owns 50,152 shares of the financial services provider’s stock valued at $3,141,000 after acquiring an additional 46,675 shares during the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.
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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