Sun Life Financial (NYSE:SLF) Stock Price Passes Above 200 Day Moving Average – Time to Sell?
by Jessica Moore · The Cerbat GemSun Life Financial Inc. (NYSE:SLF – Get Free Report) (TSE:SLF)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $60.42 and traded as high as $63.47. Sun Life Financial shares last traded at $62.8460, with a volume of 508,271 shares.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the stock. Evercore ISI reissued an “outperform” rating on shares of Sun Life Financial in a research report on Thursday, October 9th. Morgan Stanley set a $89.00 price target on Sun Life Financial in a report on Tuesday, October 7th. Barclays reissued an “underweight” rating on shares of Sun Life Financial in a research note on Thursday, January 8th. TD Securities raised Sun Life Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, October 7th. Finally, UBS Group began coverage on Sun Life Financial in a report on Thursday, October 16th. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $86.50.
Sun Life Financial Price Performance
The company’s fifty day moving average price is $60.66 and its 200 day moving average price is $60.42. The company has a market cap of $34.80 billion, a PE ratio of 16.71 and a beta of 0.87.
Sun Life Financial (NYSE:SLF – Get Free Report) (TSE:SLF) last issued its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.05. The business had revenue of $944.53 million during the quarter, compared to the consensus estimate of $944.53 million. Sun Life Financial had a net margin of 7.53% and a return on equity of 16.93%. During the same period in the prior year, the firm posted $2.33 EPS. On average, analysts forecast that Sun Life Financial Inc. will post 5.19 EPS for the current year.
Sun Life Financial Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, November 26th were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.64. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.9%. Sun Life Financial’s dividend payout ratio (DPR) is 69.68%.
Hedge Funds Weigh In On Sun Life Financial
A number of hedge funds and other institutional investors have recently made changes to their positions in SLF. Compagnie Lombard Odier SCmA grew its position in Sun Life Financial by 28.1% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 11,750 shares of the financial services provider’s stock valued at $734,000 after buying an additional 2,576 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Sun Life Financial by 96.2% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,401 shares of the financial services provider’s stock worth $711,000 after acquiring an additional 5,590 shares during the period. Mn Services Vermogensbeheer B.V. boosted its stake in Sun Life Financial by 1.4% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 219,593 shares of the financial services provider’s stock valued at $13,726,000 after acquiring an additional 2,948 shares during the last quarter. Rempart Asset Management Inc. grew its position in shares of Sun Life Financial by 12.4% during the 4th quarter. Rempart Asset Management Inc. now owns 4,535 shares of the financial services provider’s stock valued at $283,000 after acquiring an additional 500 shares during the period. Finally, Avanza Fonder AB increased its stake in shares of Sun Life Financial by 31.4% during the 4th quarter. Avanza Fonder AB now owns 42,869 shares of the financial services provider’s stock worth $2,675,000 after purchasing an additional 10,253 shares during the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.
About Sun Life Financial
Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.
Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.