Sun Life Financial (NYSE:SLF) (TSE:SLF) had its price target raised by Barclays from $60.00 to $65.00 in a research report report published on Monday morning, Stock Target Advisor reports. Barclays currently has an equal weight rating on the financial services provider’s stock.
Other research analysts have also recently issued reports about the stock. Royal Bank of Canada cut shares of Sun Life Financial from an outperform rating to a sector perform rating and set a $67.00 target price for the company. in a report on Monday, December 2nd. National Bank Financial cut shares of Sun Life Financial from an outperform rating to a sector perform rating in a report on Thursday, November 7th. BMO Capital Markets set a $60.00 target price on shares of Sun Life Financial and gave the stock a buy rating in a report on Tuesday, October 8th. Canaccord Genuity raised their target price on shares of Sun Life Financial from $56.00 to $58.00 in a report on Monday, October 28th. Finally, ValuEngine cut shares of Sun Life Financial from a hold rating to a sell rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $56.00.
Shares of SLF opened at $47.94 on Monday. Sun Life Financial has a one year low of $34.78 and a one year high of $48.26. The company has a 50-day moving average of $45.66 and a two-hundred day moving average of $43.64. The stock has a market cap of $32.52 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.29 and a beta of 0.89.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $1.37 EPS for the quarter, topping the consensus estimate 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 company had revenue of $7.28 billion during the quarter. During the same quarter in the previous year, the business earned $1.20 earnings per share. On average, sell-side analysts forecast that Sun Life Financial will post 3.74 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th were issued a dividend of $0.418 per share. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.40. This represents a $1.67 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend was Tuesday, November 26th. Sun Life Financial’s dividend payout ratio (DPR) is currently 44.53%.
Several hedge funds have recently bought and sold shares of SLF. Beutel Goodman & Co Ltd. boosted its holdings in shares of Sun Life Financial by 101.6% during the second quarter. Beutel Goodman & Co Ltd. now owns 28,635,836 shares of the financial services provider’s stock worth $1,143,296,000 after purchasing an additional 14,428,268 shares during the period. National Pension Service acquired a new stake in shares of Sun Life Financial during the second quarter worth approximately $45,753,000. Cardinal Capital Management Inc. boosted its holdings in shares of Sun Life Financial by 49.0% during the fourth quarter. Cardinal Capital Management Inc. now owns 1,876,719 shares of the financial services provider’s stock worth $85,695,000 after purchasing an additional 617,458 shares during the period. Balyasny Asset Management LLC acquired a new stake in shares of Sun Life Financial during the second quarter worth approximately $20,142,000. Finally, Man Group plc boosted its holdings in shares of Sun Life Financial by 81.7% during the second quarter. Man Group plc now owns 923,425 shares of the financial services provider’s stock worth $38,267,000 after purchasing an additional 415,132 shares during the period. Institutional investors and hedge funds own 36.33% 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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