Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Equities researchers at Desjardins increased their Q2 2017 earnings estimates for Sun Life Financial in a research note issued to investors on Tuesday. Desjardins analyst D. Young now expects that the financial services provider will earn $0.76 per share for the quarter, up from their previous estimate of $0.72. Desjardins also issued estimates for Sun Life Financial’s Q3 2017 earnings at $0.77 EPS, Q4 2017 earnings at $0.81 EPS, FY2017 earnings at $3.09 EPS and FY2018 earnings at $3.40 EPS.
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Several other equities analysts also recently weighed in on SLF. Zacks Investment Research raised Sun Life Financial from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Tuesday, April 25th. Credit Suisse Group downgraded Sun Life Financial from an “outperform” rating to a “neutral” rating in a research report on Wednesday, May 10th. National Bank Financial reissued an “outperform overweight” rating on shares of Sun Life Financial in a research report on Tuesday, May 9th. ValuEngine downgraded Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Royal Bank Of Canada raised Sun Life Financial from a “sector perform” rating to an “outperform” rating and set a $51.00 target price on the stock in a research report on Wednesday, June 7th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Sun Life Financial currently has a consensus rating of “Hold” and an average price target of $45.17.
Shares of Sun Life Financial (NYSE:SLF) opened at 37.72 on Thursday. The company has a market cap of $23.15 billion, a price-to-earnings ratio of 11.88 and a beta of 0.87. Sun Life Financial has a 1-year low of $30.38 and a 1-year high of $40.57. The stock has a 50 day moving average of $35.00 and a 200 day moving average of $36.27.
A number of institutional investors have recently bought and sold shares of the stock. Highstreet Asset Management Inc. boosted its position in Sun Life Financial by 423.8% in the first quarter. Highstreet Asset Management Inc. now owns 208,259 shares of the financial services provider’s stock worth $7,596,000 after buying an additional 168,499 shares during the last quarter. Pegasus Partners Ltd. acquired a new position in Sun Life Financial during the fourth quarter worth about $1,404,000. Norges Bank acquired a new position in Sun Life Financial during the fourth quarter worth about $19,546,000. Dimensional Fund Advisors LP boosted its position in Sun Life Financial by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,086,134 shares of the financial services provider’s stock worth $41,718,000 after buying an additional 22,598 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new position in Sun Life Financial during the first quarter worth about $2,222,000. Institutional investors own 42.30% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Wednesday, May 31st were issued a dividend of $0.3164 per share. This represents a $1.27 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was Friday, May 26th. Sun Life Financial’s payout ratio is currently 41.23%.
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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