Fortress Financial Solutions LLC acquired a new position in shares of Sun Life Financial Inc. (NYSE:SLF – Free Report) (TSE:SLF) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,694 shares of the financial services provider’s stock, valued at approximately $522,000.
Several other institutional investors have also recently made changes to their positions in the company. Cassaday & Co Wealth Management LLC acquired a new position in shares of Sun Life Financial in the 1st quarter valued at $25,000. Scarborough Advisors LLC purchased a new stake in Sun Life Financial during the first quarter worth $33,000. First Bancorp Inc ME purchased a new stake in Sun Life Financial during the second quarter worth $35,000. Capital Analysts LLC purchased a new stake in Sun Life Financial during the second quarter worth $58,000. Finally, Danske Bank A S acquired a new stake in Sun Life Financial during the second quarter valued at $79,000. 52.26% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. Barclays reaffirmed an “underweight” rating on shares of Sun Life Financial in a report on Wednesday, October 7th. Weiss Ratings raised shares of Sun Life Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, August 31st. Evercore lowered shares of Sun Life Financial from an “outperform” rating to an “in-line” rating in a research note on Monday, July 13th. Royal Bank Of Canada raised their target price on Sun Life Financial from $98.00 to $119.00 and gave the company a “sector perform” rating in a research report on Monday, August 10th. Finally, Argus lifted their price target 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. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $103.50.
Sun Life Financial Stock Up 0.2%
Shares of NYSE SLF traded up $0.18 during trading on Wednesday, hitting $78.06. The company had a trading volume of 333,822 shares, compared to its average volume of 699,062. The firm has a market capitalization of $43.40 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 1.92 and a beta of 0.89. The stock has a fifty day simple moving average of $79.60 and a two-hundred day simple moving average of $75.97. Sun Life Financial Inc. has a fifty-two week low of $57.22 and a fifty-two week high of $84.38.
Sun Life Financial (NYSE:SLF – Get Free Report) (TSE:SLF) last released its quarterly earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.07. Sun Life Financial had a net margin of 7.66% and a return on equity of 17.96%. The firm had revenue of $10.10 billion during the quarter, compared to the consensus estimate of $994.33 million. On average, analysts anticipate 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 issued a C$0.96 dividend. This represents a $3.84 annualized dividend and a yield of 4.9%. The ex-dividend date was Wednesday, August 26th. Sun Life Financial’s payout ratio is presently 64.02%.
Sun Life Financial Company Profile
Sun Life Financial Inc is a Canadian financial services company that provides insurance, wealth, and asset management products to individuals, businesses, and institutions. The company serves clients through operations in Canada, the United States, and several markets in Asia.
Its insurance offerings include life, health, dental, disability, long-term care, and critical illness coverage, as well as annuities and employee benefits. Sun Life also provides retirement savings and investment products, including mutual funds and other wealth solutions for individuals and workplace plan members.
Through its asset management businesses, Sun Life manages investments for institutional and retail clients across a range of asset classes.
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