Shares of Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) have received an average rating of “Buy” from the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $50.75.
SLF has been the subject of a number of recent analyst reports. BMO Capital Markets reaffirmed a “hold” rating and issued a $52.00 price objective on shares of Sun Life Financial in a report on Friday, November 24th. Zacks Investment Research lowered shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. TD Securities upgraded shares of Sun Life Financial from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Morgan Stanley lifted their target price on shares of Sun Life Financial from $52.00 to $53.00 and gave the company an “equal weight” rating in a research report on Thursday, October 5th.
Sun Life Financial (SLF) traded down $0.20 on Friday, reaching $43.65. 517,500 shares of the company’s stock were exchanged, compared to its average volume of 537,642. Sun Life Financial has a one year low of $32.22 and a one year high of $44.20. The company has a quick ratio of 4.42, a current ratio of 4.42 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $26,835.18, a PE ratio of 13.23, a price-to-earnings-growth ratio of 1.80 and a beta of 0.93.
The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Wednesday, November 29th were given a $0.3565 dividend. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Tuesday, November 28th. This represents a $1.43 annualized dividend and a dividend yield of 3.27%. Sun Life Financial’s dividend payout ratio (DPR) is 43.94%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hexavest Inc. grew its position in shares of Sun Life Financial by 70.3% in the fourth quarter. Hexavest Inc. now owns 466,545 shares of the financial services provider’s stock valued at $19,318,000 after purchasing an additional 192,580 shares during the period. Atlantic Trust Group LLC grew its position in shares of Sun Life Financial by 10.9% in the third quarter. Atlantic Trust Group LLC now owns 37,127 shares of the financial services provider’s stock valued at $1,479,000 after purchasing an additional 3,634 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Sun Life Financial during the third quarter worth about $402,000. Beacon Investment Advisory Services Inc. acquired a new position in Sun Life Financial during the third quarter worth about $375,000. Finally, First Republic Investment Management Inc. boosted its position in Sun Life Financial by 72.3% during the third quarter. First Republic Investment Management Inc. now owns 13,231 shares of the financial services provider’s stock worth $527,000 after acquiring an additional 5,552 shares during the last quarter. Institutional investors and hedge funds own 41.16% of the company’s stock.
About Sun Life Financial
Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services company providing a range of insurance, wealth and asset management solutions to individuals and corporate Clients. It operates through five segments. The Sun Life Financial Canada segment provides retail insurance and investment advice, products and services to people across Canada.
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