Royal Bank Of Canada Reiterates Sector Perform Rating for Sun Life Financial (NYSE:SLF)

Sun Life Financial (NYSE:SLF) (TSE:SLF)‘s stock had its “sector perform” rating restated by equities research analysts at Royal Bank Of Canada in a note issued to investors on Monday,Benzinga reports. They presently have a $84.00 price objective on the financial services provider’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 46.05% from the stock’s current price.

SLF has been the topic of several other research reports. TD Securities upgraded shares of Sun Life Financial from a “hold” rating to a “buy” rating in a report on Tuesday, October 7th. National Bank Financial lowered Sun Life Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. Evercore ISI restated an “outperform” rating on shares of Sun Life Financial in a report on Thursday, October 9th. Morgan Stanley set a $89.00 target price on Sun Life Financial in a research report on Tuesday, October 7th. Finally, Barclays reissued an “underweight” rating on shares of Sun Life Financial in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Sun Life Financial currently has a consensus rating of “Hold” and a consensus price target of $86.50.

Sun Life Financial Trading Down 1.8%

SLF stock traded down $1.03 during trading on Monday, reaching $57.52. 137,579 shares of the stock were exchanged, compared to its average volume of 636,560. The firm’s 50 day moving average is $60.18 and its 200 day moving average is $61.36. The firm has a market cap of $32.12 billion, a P/E ratio of 14.24, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90. Sun Life Financial has a twelve month low of $52.44 and a twelve month high of $66.81.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.30 by $0.05. Sun Life Financial had a return on equity of 17.21% and a net margin of 7.59%.The firm had revenue of $944.53 million during the quarter, compared to the consensus estimate of $944.53 million. During the same quarter in the previous year, the company posted $2.33 earnings per share. As a group, analysts predict that Sun Life Financial will post 5.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sun Life Financial

A number of hedge funds have recently modified their holdings of SLF. Citigroup Inc. grew its holdings in Sun Life Financial by 117.7% during the third quarter. Citigroup Inc. now owns 372,723 shares of the financial services provider’s stock valued at $22,386,000 after purchasing an additional 201,485 shares during the period. Asahi Life Asset Management CO. LTD. raised its stake in shares of Sun Life Financial by 89.0% in the third quarter. Asahi Life Asset Management CO. LTD. now owns 6,520 shares of the financial services provider’s stock valued at $392,000 after buying an additional 3,070 shares during the period. Syon Capital LLC lifted its position in shares of Sun Life Financial by 36.9% during the 3rd quarter. Syon Capital LLC now owns 12,056 shares of the financial services provider’s stock valued at $724,000 after buying an additional 3,249 shares during the last quarter. Todd Asset Management LLC grew its stake in shares of Sun Life Financial by 5.7% during the 3rd quarter. Todd Asset Management LLC now owns 671,520 shares of the financial services provider’s stock worth $40,312,000 after acquiring an additional 36,204 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Sun Life Financial by 9.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,733,974 shares of the financial services provider’s stock worth $164,120,000 after acquiring an additional 243,323 shares during the last quarter. Institutional investors own 52.26% of the company’s stock.

About Sun Life Financial

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.