Sun Life Financial Inc. (NYSE:SLF) Receives Average Rating of “Moderate Buy” from Analysts

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) has earned an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $84.6667.

Several analysts recently weighed in on the stock. Wall Street Zen cut shares of Sun Life Financial from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Scotiabank reissued a “sector perform” rating on shares of Sun Life Financial in a research report on Wednesday, April 29th. Evercore reissued an “outperform” rating on shares of Sun Life Financial in a research report on Thursday, February 19th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Sun Life Financial in a research report on Friday, May 8th. Finally, TD Securities reissued a “buy” rating on shares of Sun Life Financial in a research report on Thursday, May 7th.

Sun Life Financial Trading Down 0.1%

SLF stock opened at $76.53 on Wednesday. The company has a market cap of $42.40 billion, a price-to-earnings ratio of 19.72 and a beta of 0.90. Sun Life Financial has a 12 month low of $56.22 and a 12 month high of $76.84. The firm has a 50-day moving average of $70.71 and a two-hundred day moving average of $65.64.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. The business had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $925.99 million. Sun Life Financial had a net margin of 7.85% and a return on equity of 17.80%. During the same quarter last year, the firm earned $1.82 EPS. As a group, equities analysts forecast that Sun Life Financial will post 5.76 earnings per share for the current year.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, May 27th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Wednesday, May 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.92. Sun Life Financial’s dividend payout ratio (DPR) is 72.94%.

Institutional Investors Weigh In On Sun Life Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in Sun Life Financial in the fourth quarter valued at $398,037,000. Morgan Stanley increased its stake in Sun Life Financial by 86.6% in the fourth quarter. Morgan Stanley now owns 3,952,646 shares of the financial services provider’s stock valued at $246,645,000 after purchasing an additional 1,834,772 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Sun Life Financial by 2,187.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,601,200 shares of the financial services provider’s stock valued at $100,276,000 after purchasing an additional 1,531,200 shares during the period. Bank of Nova Scotia increased its stake in Sun Life Financial by 27.1% in the fourth quarter. Bank of Nova Scotia now owns 5,991,249 shares of the financial services provider’s stock valued at $373,984,000 after purchasing an additional 1,277,583 shares during the period. Finally, Wellington Management Group LLP increased its stake in Sun Life Financial by 123.4% in the fourth quarter. Wellington Management Group LLP now owns 2,245,209 shares of the financial services provider’s stock valued at $140,339,000 after purchasing an additional 1,240,241 shares during the period. 52.26% of the stock is currently owned by institutional investors and hedge funds.

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.