Sun Life Financial Inc. (NYSE:SLF) Receives Consensus Rating of “Hold” from Brokerages

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) has earned an average rating of “Hold” from the five brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $88.00.

A number of equities research analysts have recently weighed in on SLF shares. National Bank Financial downgraded Sun Life Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. Royal Bank Of Canada lifted their target price on Sun Life Financial from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Monday, May 12th. BMO Capital Markets reissued an “outperform” rating on shares of Sun Life Financial in a report on Monday, May 12th. Barclays cut Sun Life Financial from an “equal weight” rating to an “underweight” rating in a report on Monday, July 7th. Finally, Scotiabank raised Sun Life Financial to a “hold” rating in a report on Thursday, July 31st.

Sun Life Financial Stock Down 0.1%

SLF opened at $57.73 on Monday. Sun Life Financial has a 12-month low of $52.44 and a 12-month high of $66.81. The stock has a market cap of $32.45 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 1.55 and a beta of 0.89. The business has a 50 day moving average of $60.64 and a 200-day moving average of $59.91.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings data on Thursday, August 7th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.29. The company had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $7.34 billion. Sun Life Financial had a return on equity of 17.21% and a net margin of 7.59%.During the same period last year, the firm posted $1.11 earnings per share. As a group, analysts expect that Sun Life Financial will post 5.19 earnings per share for the current year.

Hedge Funds Weigh In On Sun Life Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Private Trust Co. NA raised its holdings in shares of Sun Life Financial by 130.6% during the 2nd quarter. Private Trust Co. NA now owns 429 shares of the financial services provider’s stock worth $29,000 after buying an additional 243 shares in the last quarter. Investment Management Corp VA ADV raised its stake in Sun Life Financial by 164.5% during the first quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 385 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in Sun Life Financial by 53.2% during the first quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 231 shares in the last quarter. Westside Investment Management Inc. raised its stake in Sun Life Financial by 62.8% during the second quarter. Westside Investment Management Inc. now owns 578 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 223 shares in the last quarter. Finally, Tobam acquired a new position in Sun Life Financial during the second quarter worth about $44,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Company Profile

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.