Shares of Sun Life Financial Inc. (NYSE:SLF – Get Free Report) (TSE:SLF) reached a new 52-week high on Wednesday . The stock traded as high as $80.36 and last traded at $79.9550, with a volume of 420068 shares traded. The stock had previously closed at $78.99.
Analyst Ratings Changes
Several equities research analysts have commented on the company. Argus set a $81.00 target price on Sun Life Financial in a research note on Wednesday, June 10th. Wall Street Zen upgraded shares of Sun Life Financial from a “sell” rating to a “hold” rating in a report on Saturday. Barclays reissued an “underweight” rating on shares of Sun Life Financial in a research report on Tuesday. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Sun Life Financial in a research report on Friday, May 8th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Sun Life Financial in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Sun Life Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.67.
Sun Life Financial Stock Performance
Sun Life Financial (NYSE:SLF – Get Free Report) (TSE:SLF) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $925.99 million. During the same quarter in the previous year, the business earned $1.82 earnings per share. On average, research analysts predict that Sun Life Financial Inc. will post 5.76 EPS for the current fiscal year.
Sun Life Financial Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Wednesday, May 27th were issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $3.84 annualized dividend and a yield of 4.8%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.92. Sun Life Financial’s payout ratio is 72.94%.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. Louisbourg Investments Inc. grew its stake in shares of Sun Life Financial by 3.0% in the first quarter. Louisbourg Investments Inc. now owns 5,105 shares of the financial services provider’s stock valued at $319,000 after acquiring an additional 150 shares in the last quarter. Cornerstone Planning Group LLC raised its stake in Sun Life Financial by 68.4% in the 4th quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 167 shares in the last quarter. Candriam S.C.A. raised its stake in Sun Life Financial by 1.8% in the 1st quarter. Candriam S.C.A. now owns 9,794 shares of the financial services provider’s stock worth $612,000 after purchasing an additional 177 shares in the last quarter. HB Wealth Management LLC boosted its holdings in Sun Life Financial by 4.7% in the 1st quarter. HB Wealth Management LLC now owns 4,158 shares of the financial services provider’s stock valued at $260,000 after purchasing an additional 187 shares during the period. Finally, Sei Investments Co. grew its position in shares of Sun Life Financial by 3.5% during the 1st quarter. Sei Investments Co. now owns 5,788 shares of the financial services provider’s stock worth $362,000 after purchasing an additional 196 shares in the last quarter. 52.26% of the stock is owned by institutional investors.
About Sun Life Financial
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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