Royal Bank of Canada downgraded shares of Sun Life Financial (NYSE:SLF) (TSE:SLF) from an outperform rating to a sector perform rating in a research note published on Monday morning, Briefing.com Automated Import reports. They currently have $67.00 price objective on the financial services provider’s stock.
Other equities research analysts have also issued research reports about the stock. Canaccord Genuity increased their price objective on shares of Sun Life Financial from $56.00 to $58.00 in a research report on Monday, October 28th. Barclays restated a hold rating on shares of Sun Life Financial in a report on Monday, August 26th. BMO Capital Markets set a $60.00 price target on shares of Sun Life Financial and gave the stock a buy rating in a research report on Tuesday, October 8th. National Bank Financial cut shares of Sun Life Financial from an outperform rating to a sector perform rating in a research report on Thursday, November 7th. Finally, ValuEngine downgraded Sun Life Financial from a hold rating to a sell rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Sun Life Financial presently has an average rating of Hold and a consensus target price of $54.71.
SLF opened at $45.34 on Monday. Sun Life Financial has a 1 year low of $31.49 and a 1 year high of $47.02. The firm has a 50 day moving average price of $45.41 and a 200 day moving average price of $42.38. The company has a market cap of $31.05 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 1.36 and a beta of 0.91.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.40. Sun Life Financial had a net margin of 6.43% and a return on equity of 13.20%. The firm had revenue of $7.28 billion for the quarter. During the same period last year, the firm earned $1.20 earnings per share. On average, analysts expect that Sun Life Financial will post 3.74 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be given a dividend of $0.418 per share. The ex-dividend date is Tuesday, November 26th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.40. This represents a $1.67 annualized dividend and a yield of 3.69%. Sun Life Financial’s payout ratio is 44.53%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HM Payson & Co. purchased a new stake in shares of Sun Life Financial during the second quarter valued at approximately $31,000. Parallel Advisors LLC grew its holdings in Sun Life Financial by 113.1% during the 2nd quarter. Parallel Advisors LLC now owns 827 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 439 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Sun Life Financial by 514.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 921 shares of the financial services provider’s stock worth $38,000 after buying an additional 771 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in Sun Life Financial during the 2nd quarter worth $65,000. Finally, CWM LLC increased its stake in Sun Life Financial by 152.6% during the 3rd quarter. CWM LLC now owns 1,680 shares of the financial services provider’s stock worth $75,000 after buying an additional 1,015 shares during the period. Hedge funds and other institutional investors own 36.34% of the company’s stock.
Sun Life Financial Company Profile
Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.
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