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

Shares of Sun Life Financial Inc. (NYSE:SLFGet Rating) (TSE:SLF) have received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four 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 $72.14.

Several equities analysts have recently issued reports on the stock. BMO Capital Markets lowered their target price on shares of Sun Life Financial from C$75.00 to C$72.00 in a report on Wednesday, June 1st. TD Securities reduced their price target on shares of Sun Life Financial from C$72.00 to C$68.00 in a research report on Wednesday, June 1st. Barclays started coverage on shares of Sun Life Financial in a research report on Thursday, June 9th. They set an “overweight” rating and a $71.00 price target for the company. Finally, National Bank Financial reduced their price target on shares of Sun Life Financial from C$68.00 to C$67.00 in a research report on Tuesday, July 19th.

Institutional Investors Weigh In On Sun Life Financial

Large investors have recently added to or reduced their stakes in the stock. Tcwp LLC bought a new stake in Sun Life Financial in the 1st quarter worth approximately $27,000. AdvisorNet Financial Inc grew its position in Sun Life Financial by 149.5% in the 1st quarter. AdvisorNet Financial Inc now owns 499 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 299 shares during the period. Mark Sheptoff Financial Planning LLC bought a new stake in Sun Life Financial in the 1st quarter worth approximately $30,000. Achmea Investment Management B.V. bought a new stake in Sun Life Financial in the 1st quarter worth approximately $32,000. Finally, Capital Advisory Group Advisory Services LLC bought a new stake in shares of Sun Life Financial during the 1st quarter valued at $33,000. Institutional investors own 46.86% of the company’s stock.

Sun Life Financial Stock Performance

SLF stock opened at $41.70 on Friday. The firm has a 50 day moving average price of $45.32 and a 200-day moving average price of $48.59. Sun Life Financial has a 52-week low of $41.63 and a 52-week high of $58.49. The firm has a market capitalization of $24.44 billion, a price-to-earnings ratio of 8.29, a PEG ratio of 1.01 and a beta of 1.00.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, August 24th will be given a $0.539 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date of this dividend is Tuesday, August 23rd. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.54. Sun Life Financial’s payout ratio is 42.94%.

Sun Life Financial Company Profile

(Get Rating)

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company also provides reinsurance products; investment counselling and portfolio management services; mutual funds and segregated funds; trust and banking services; real estate property brokerage and appraisal services; and merchant banking services.

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Analyst Recommendations for Sun Life Financial (NYSE:SLF)

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