Sun Life Financial Inc. (NYSE:SLF) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) have been assigned a consensus recommendation of “Buy” from the three research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company.

A number of analysts recently commented on SLF shares. StockNews.com cut Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Cormark upgraded Sun Life Financial from a “hold” rating to a “moderate buy” rating in a research report on Thursday, February 13th. Finally, National Bank Financial upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 15th.

Sun Life Financial Stock Up 0.4 %

Shares of SLF stock opened at $55.34 on Wednesday. Sun Life Financial has a fifty-two week low of $46.41 and a fifty-two week high of $62.85. The stock has a market cap of $31.70 billion, a P/E ratio of 14.41, a P/E/G ratio of 1.52 and a beta of 1.03. The business has a fifty day simple moving average of $58.04 and a 200-day simple moving average of $57.60.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.30. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. On average, sell-side analysts anticipate that Sun Life Financial will post 5.19 earnings per share for the current year.

Sun Life Financial Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Wednesday, February 26th will be paid a $0.5876 dividend. This represents a $2.35 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date is Wednesday, February 26th. Sun Life Financial’s payout ratio is 60.16%.

Institutional Trading of Sun Life Financial

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Sun Life Financial by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 24,233,496 shares of the financial services provider’s stock worth $1,438,888,000 after buying an additional 197,887 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Sun Life Financial by 2.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 9,454,589 shares of the financial services provider’s stock valued at $562,121,000 after purchasing an additional 198,205 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Sun Life Financial by 7.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 9,256,384 shares of the financial services provider’s stock valued at $537,288,000 after purchasing an additional 654,404 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of Sun Life Financial by 10.8% in the 4th quarter. CIBC Asset Management Inc now owns 7,192,059 shares of the financial services provider’s stock valued at $427,712,000 after purchasing an additional 703,391 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Sun Life Financial in the 4th quarter valued at about $382,176,000. 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.