Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) has been assigned an average recommendation of “Hold” from the fourteen brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $59.70.
Several equities research analysts have recently issued reports on the company. Credit Suisse Group assumed coverage on Sun Life Financial in a research report on Friday, February 7th. They issued an “outperform” rating and a $71.00 price target on the stock. Royal Bank of Canada downgraded Sun Life Financial from an “outperform” rating to a “sector perform” rating and set a $67.00 price target on the stock. in a research report on Monday, December 2nd. Cfra raised their price target on Sun Life Financial from $48.00 to $52.00 and gave the company a “hold” rating in a research report on Friday. CIBC raised Sun Life Financial from an “underperform” rating to a “neutral” rating in a research report on Friday. Finally, National Bank Financial downgraded Sun Life Financial from an “outperform” rating to a “sector perform” rating in a research report on Thursday, November 7th.
Hedge funds have recently added to or reduced their stakes in the stock. Firestone Capital Management acquired a new stake in Sun Life Financial during the fourth quarter worth about $33,000. Savior LLC acquired a new stake in Sun Life Financial during the fourth quarter worth about $31,000. Pacifica Partners Inc. acquired a new stake in Sun Life Financial during the fourth quarter worth about $37,000. Great Diamond Partners LLC acquired a new stake in Sun Life Financial during the fourth quarter worth about $67,000. Finally, Chevy Chase Trust Holdings Inc. acquired a new stake in Sun Life Financial during the fourth quarter worth about $69,000. 42.17% of the stock is currently owned by institutional investors and hedge funds.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.36. The company had revenue of $8.53 billion for the quarter. Sun Life Financial had a return on equity of 13.20% and a net margin of 6.43%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.19 earnings per share. Analysts forecast that Sun Life Financial will post 3.86 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Sunday, March 1st will be given a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Thursday, February 27th. Sun Life Financial’s dividend payout ratio (DPR) is presently 44.53%.
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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