Sun Life Financial (SLF) Stock Rating Reaffirmed by Barclays

Barclays restated their buy rating on shares of Sun Life Financial (NYSE:SLF) (TSE:SLF) in a research report released on Friday morning.

A number of other equities analysts have also issued reports on SLF. Zacks Investment Research lowered shares of Sun Life Financial from a buy rating to a sell rating in a research report on Tuesday, July 17th. ValuEngine lowered shares of Sun Life Financial from a hold rating to a sell rating in a research report on Tuesday, August 7th. Desjardins reiterated a buy rating on shares of Sun Life Financial in a research report on Tuesday, October 16th. Finally, Canaccord Genuity reiterated an average rating and issued a $53.00 target price on shares of Sun Life Financial in a research report on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The company has a consensus rating of Buy and an average price target of $53.60.

SLF traded down $0.32 on Friday, reaching $36.68. The company had a trading volume of 484,584 shares, compared to its average volume of 707,455. The firm has a market capitalization of $22.73 billion, a PE ratio of 11.46 and a beta of 0.83. The company has a quick ratio of 4.06, a current ratio of 4.06 and a debt-to-equity ratio of 0.20. Sun Life Financial has a one year low of $35.78 and a one year high of $44.50.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Wednesday, August 8th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.32. The firm had revenue of $5.29 billion during the quarter. Sun Life Financial had a net margin of 9.24% and a return on equity of 13.44%. During the same quarter in the prior year, the company earned $1.12 EPS. On average, equities analysts expect that Sun Life Financial will post 3.65 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Wednesday, November 28th will be given a dividend of $0.38 per share. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Tuesday, November 27th. This represents a $1.52 annualized dividend and a dividend yield of 4.14%. Sun Life Financial’s dividend payout ratio (DPR) is 45.63%.

Several large investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board boosted its position in shares of Sun Life Financial by 29.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 581,973 shares of the financial services provider’s stock valued at $23,120,000 after purchasing an additional 132,680 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Sun Life Financial by 19.6% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 21,401 shares of the financial services provider’s stock valued at $861,000 after purchasing an additional 3,500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Sun Life Financial by 3.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 462,271 shares of the financial services provider’s stock valued at $18,364,000 after purchasing an additional 16,204 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its position in shares of Sun Life Financial by 108.7% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 256,039 shares of the financial services provider’s stock valued at $10,180,000 after purchasing an additional 133,333 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Sun Life Financial by 3.4% during the 3rd quarter. FMR LLC now owns 3,511,095 shares of the financial services provider’s stock valued at $139,585,000 after purchasing an additional 115,519 shares in the last quarter. Institutional investors own 41.53% of the company’s stock.

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, high-net-worth individuals, and families. It operates through Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate segments.

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Analyst Recommendations for Sun Life Financial (NYSE:SLF)

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