Sun Life Financial (NYSE:SLF) Receives Buy Rating from TD Securities

TD Securities reissued their buy rating on shares of Sun Life Financial (NYSE:SLF) (TSE:SLF) in a report published on Thursday, AnalystRatings.com reports. They currently have a $72.00 price objective on the financial services provider’s stock.

Several other brokerages have also issued reports on SLF. Barclays raised their price target on shares of Sun Life Financial from $60.00 to $65.00 and gave the company an equal weight rating in a research note on Monday, January 13th. Canaccord Genuity upped their price objective on shares of Sun Life Financial from $56.00 to $58.00 in a research report on Monday, October 28th. Credit Suisse Group initiated coverage on shares of Sun Life Financial in a research note on Friday, February 7th. They issued an outperform rating and a $71.00 price objective for the company. Royal Bank of Canada lowered shares of Sun Life Financial from an outperform rating to a sector perform rating and set a $67.00 target price on the stock. in a research report on Monday, December 2nd. Finally, Argus reaffirmed a buy rating and set a $53.00 target price on shares of Sun Life Financial in a research note on Friday, January 17th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Sun Life Financial currently has a consensus rating of Hold and a consensus target price of $59.18.

Shares of SLF stock traded up $0.95 during trading on Thursday, hitting $50.13. The company had a trading volume of 708,300 shares, compared to its average volume of 441,127. The stock’s 50-day moving average price is $47.46 and its 200 day moving average price is $44.53. Sun Life Financial has a one year low of $35.49 and a one year high of $50.13. The firm has a market capitalization of $28.40 billion, a P/E ratio of 16.02, a price-to-earnings-growth ratio of 1.30 and a beta of 0.81.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.36. The firm had revenue of $8.53 billion for the quarter. Sun Life Financial had a net margin of 6.43% and a return on equity of 13.20%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.19 earnings per share. On average, analysts predict that Sun Life Financial will post 3.86 EPS for the current year.

The business 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 annualized dividend and a yield of 3.32%. The ex-dividend date is Thursday, February 27th. Sun Life Financial’s dividend payout ratio is currently 44.53%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Valeo Financial Advisors LLC acquired a new stake in Sun Life Financial during the third quarter worth approximately $224,000. Signaturefd LLC grew its stake in shares of Sun Life Financial by 86.8% in the 3rd quarter. Signaturefd LLC now owns 9,405 shares of the financial services provider’s stock valued at $421,000 after buying an additional 4,371 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Sun Life Financial by 3.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 24,063 shares of the financial services provider’s stock valued at $1,078,000 after buying an additional 869 shares during the period. Virginia Retirement Systems ET AL increased its position in Sun Life Financial by 0.5% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 335,800 shares of the financial services provider’s stock valued at $15,025,000 after buying an additional 1,800 shares in the last quarter. Finally, OLD National Bancorp IN increased its position in Sun Life Financial by 7.7% in the 3rd quarter. OLD National Bancorp IN now owns 7,819 shares of the financial services provider’s stock valued at $350,000 after buying an additional 559 shares in the last quarter. Institutional investors own 42.17% 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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Analyst Recommendations for Sun Life Financial (NYSE:SLF)

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