Sun Life Financial (NYSE:SLF) Price Target Raised to $65.00

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Sun Life Financial (NYSE:SLF) (TSE:SLF) had its price target upped by Barclays from $60.00 to $65.00 in a research note published on Monday, Stock Target Advisor reports. They currently have an equal weight rating on the financial services provider’s stock.

SLF has been the topic of a number of other reports. BMO Capital Markets set a $60.00 price objective on shares of Sun Life Financial and gave the company a buy rating in a research note on Tuesday, October 8th. Canaccord Genuity lifted their price objective on shares of Sun Life Financial from $56.00 to $58.00 in a research note on Monday, October 28th. National Bank Financial lowered shares of Sun Life Financial from an outperform rating to a sector perform rating in a research note on Thursday, November 7th. Royal Bank of Canada lowered shares of Sun Life Financial from an outperform rating to a sector perform rating and set a $67.00 price objective on the stock. in a research note on Monday, December 2nd. Finally, ValuEngine downgraded shares of Sun Life Financial from a hold rating to a sell rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $56.00.

NYSE SLF opened at $47.94 on Monday. The firm has a market cap of $32.52 billion, a PE ratio of 12.78, a P/E/G ratio of 1.29 and a beta of 0.89. Sun Life Financial has a one year low of $34.78 and a one year high of $48.26. The firm’s fifty day moving average is $45.66 and its two-hundred day moving average is $43.64.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.40. The company had revenue of $7.28 billion for the quarter. Sun Life Financial had a net margin of 6.43% and a return on equity of 13.20%. During the same quarter in the prior year, the firm posted $1.20 earnings per share. Research analysts anticipate that Sun Life Financial will post 3.74 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th were paid a dividend of $0.418 per share. This represents a $1.67 dividend on an annualized basis and a yield of 3.49%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, November 26th. Sun Life Financial’s dividend payout ratio is 44.53%.

Large investors have recently modified their holdings of the business. Millennium Management LLC raised its holdings in shares of Sun Life Financial by 165.5% during the third quarter. Millennium Management LLC now owns 32,131 shares of the financial services provider’s stock worth $1,439,000 after purchasing an additional 20,030 shares during the period. Motco raised its holdings in shares of Sun Life Financial by 8.7% during the third quarter. Motco now owns 104,194 shares of the financial services provider’s stock worth $4,669,000 after purchasing an additional 8,321 shares during the period. CSat Investment Advisory L.P. acquired a new stake in shares of Sun Life Financial during the second quarter worth $302,000. Man Group plc raised its holdings in shares of Sun Life Financial by 81.7% during the second quarter. Man Group plc now owns 923,425 shares of the financial services provider’s stock worth $38,267,000 after purchasing an additional 415,132 shares during the period. Finally, Amundi Pioneer Asset Management Inc. raised its holdings in shares of Sun Life Financial by 24.6% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 1,413,174 shares of the financial services provider’s stock worth $58,449,000 after purchasing an additional 279,121 shares during the period. 36.33% of the stock is currently owned by institutional investors.

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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