Sun Life Financial (NYSE:SLF) Sees Unusually-High Trading Volume – What’s Next?

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) saw unusually-strong trading volume on Tuesday . Approximately 2,394,637 shares changed hands during mid-day trading, an increase of 292% from the previous session’s volume of 610,410 shares.The stock last traded at $64.81 and had previously closed at $64.56.

Analyst Ratings Changes

A number of brokerages recently weighed in on SLF. Barclays reaffirmed an “underweight” rating on shares of Sun Life Financial in a research report on Thursday, January 8th. TD Securities reaffirmed a “buy” rating on shares of Sun Life Financial in a research report on Thursday, February 12th. Scotiabank reiterated a “sector perform” rating on shares of Sun Life Financial in a report on Thursday, February 5th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Sun Life Financial in a report on Thursday, January 8th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Sun Life Financial in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Sun Life Financial presently has a consensus rating of “Hold” and a consensus price target of $86.50.

Sun Life Financial Trading Down 0.3%

The business has a 50 day simple moving average of $63.82 and a two-hundred day simple moving average of $61.02. The stock has a market cap of $36.21 billion, a price-to-earnings ratio of 14.86 and a beta of 0.88.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Wednesday, February 11th. The financial services provider reported $1.41 EPS for the quarter, beating the consensus estimate of $1.35 by $0.06. Sun Life Financial had a return on equity of 17.76% and a net margin of 8.48%.The company had revenue of $973.53 million during the quarter, compared to analysts’ expectations of $973.53 million. During the same period in the prior year, the business posted $1.68 EPS. Research analysts anticipate that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, February 25th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Wednesday, February 25th. Sun Life Financial’s dividend payout ratio (DPR) is currently 59.55%.

Hedge Funds Weigh In On Sun Life Financial

Several large investors have recently modified their holdings of SLF. Brighton Jones LLC bought a new stake in Sun Life Financial in the fourth quarter valued at about $244,000. AQR Capital Management LLC grew its position in shares of Sun Life Financial by 113.8% in the 1st quarter. AQR Capital Management LLC now owns 8,022 shares of the financial services provider’s stock worth $454,000 after acquiring an additional 4,270 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Sun Life Financial in the 2nd quarter valued at approximately $204,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Sun Life Financial during the 2nd quarter valued at approximately $240,000. Finally, Envestnet Asset Management Inc. lifted its stake in Sun Life Financial by 12.0% during the second quarter. Envestnet Asset Management Inc. now owns 24,472 shares of the financial services provider’s stock worth $1,626,000 after purchasing an additional 2,613 shares during the last quarter. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Company Profile

Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.

Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.