Brokerages Set Sun Life Financial Inc (SLF) Target Price at $47.80

Shares of Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) have received an average rating of “Hold” from the thirteen analysts that are covering the stock. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $49.00.

Several brokerages recently weighed in on SLF. Zacks Investment Research upgraded Sun Life Financial from a “sell” rating to a “hold” rating in a research note on Friday. National Bank Financial restated an “outperform overweight” rating on shares of Sun Life Financial in a research note on Tuesday, May 9th. Credit Suisse Group AG lowered Sun Life Financial from an “outperform” rating to a “neutral” rating in a research note on Wednesday, May 10th. Royal Bank of Canada lowered Sun Life Financial from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $53.00 to $51.00 in a research note on Friday, February 17th. Finally, Scotiabank lowered Sun Life Financial from a “sector outperform” rating to a “sector perform” rating in a research note on Thursday, February 16th.

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Shares of Sun Life Financial (NYSE:SLF) opened at 33.19 on Monday. The stock’s 50 day moving average price is $35.14 and its 200 day moving average price is $37.24. The stock has a market capitalization of $20.37 billion, a price-to-earnings ratio of 11.17 and a beta of 1.14. Sun Life Financial has a 12 month low of $30.38 and a 12 month high of $40.57.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Wednesday, May 31st will be issued a dividend of $0.3164 per share. This represents a $1.27 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Friday, May 26th. Sun Life Financial’s dividend payout ratio is currently 44.48%.

Several hedge funds and other institutional investors have recently modified their holdings of SLF. 1st Global Advisors Inc. boosted its position in shares of Sun Life Financial by 7.1% in the third quarter. 1st Global Advisors Inc. now owns 10,534 shares of the financial services provider’s stock valued at $343,000 after buying an additional 702 shares in the last quarter. AGF Investments Inc. boosted its position in shares of Sun Life Financial by 1.5% in the third quarter. AGF Investments Inc. now owns 181,919 shares of the financial services provider’s stock valued at $5,916,000 after buying an additional 2,764 shares in the last quarter. Highstreet Asset Management Inc. boosted its position in shares of Sun Life Financial by 10.4% in the third quarter. Highstreet Asset Management Inc. now owns 51,246 shares of the financial services provider’s stock valued at $1,667,000 after buying an additional 4,846 shares in the last quarter. K.J. Harrison & Partners Inc bought a new position in shares of Sun Life Financial during the third quarter valued at $673,000. Finally, Lingohr & Partner Asset Management GmbH boosted its position in shares of Sun Life Financial by 98.0% in the third quarter. Lingohr & Partner Asset Management GmbH now owns 111,300 shares of the financial services provider’s stock valued at $3,622,000 after buying an additional 55,100 shares in the last quarter. Institutional investors and hedge funds own 44.41% 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.

12 Month Chart for NYSE:SLF

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