Sun Life Financial (NYSE:SLF) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Sun Life Financial (NYSE:SLF – Get Rating) (TSE:SLF) in a research report released on Thursday. The brokerage issued a hold rating on the financial services provider’s stock.

A number of other equities analysts also recently commented on SLF. BMO Capital Markets boosted their price objective on shares of Sun Life Financial from C$76.00 to C$78.00 in a research note on Friday, February 10th. National Bank Financial boosted their price objective on shares of Sun Life Financial from C$69.00 to C$71.00 in a research note on Friday, February 10th. Desjardins lifted their price target on shares of Sun Life Financial from C$73.00 to C$75.00 in a report on Friday, February 10th. CIBC lowered shares of Sun Life Financial from an outperform rating to a neutral rating in a report on Thursday, February 9th. They noted that the move was a valuation call. Finally, Scotiabank lifted their price target on shares of Sun Life Financial from C$71.00 to C$75.00 in a report on Friday, February 10th.

Sun Life Financial Stock Down 1.7 %

Shares of NYSE:SLF opened at $44.09 on Thursday. The company has a market capitalization of $25.85 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 1.05 and a beta of 1.01. Sun Life Financial has a 52 week low of $37.96 and a 52 week high of $56.90. The firm has a 50 day moving average of $48.82 and a 200 day moving average of $45.76.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 1st will be issued a dividend of $0.541 per share. The ex-dividend date is Tuesday, February 28th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.53. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.91%. Sun Life Financial’s payout ratio is 52.75%.

Institutional Investors Weigh In On Sun Life Financial

Large investors have recently made changes to their positions in the stock. Money Concepts Capital Corp purchased a new stake in shares of Sun Life Financial during the fourth quarter valued at $26,000. Achmea Investment Management B.V. purchased a new stake in shares of Sun Life Financial during the first quarter valued at $32,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Sun Life Financial during the third quarter valued at $26,000. Addison Advisors LLC grew its holdings in shares of Sun Life Financial by 205.8% during the third quarter. Addison Advisors LLC now owns 743 shares of the financial services provider’s stock valued at $30,000 after buying an additional 500 shares during the last quarter. Finally, Asset Dedication LLC purchased a new stake in shares of Sun Life Financial during the third quarter valued at $31,000. 44.94% of the stock is owned by hedge funds and other institutional investors.

About Sun Life Financial

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Sun Life Financial, Inc engages in the provision of insurance and asset management solutions to individual and corporate clients. It operates through the following segments: Canada, United States, Asset Management, Asia, and Corporate. The Canada segment offers individual insurance and group benefits and retirement services.