Sun Life Financial Inc. (NYSE:SLF) Stock Has Consensus Target Price of $103.50

by · The Markets Daily

Shares of Sun Life Financial Inc. (NYSE:SLF – Get Free Report) (TSE:SLF) have been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $103.50.

SLF has been the subject of several research reports. Argus increased their price objective on shares of Sun Life Financial from $81.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. UBS Group restated a “neutral” rating on shares of Sun Life Financial in a report on Wednesday, September 2nd. Royal Bank Of Canada upped their target price on shares of Sun Life Financial from $98.00 to $119.00 and gave the company a “sector perform” rating in a research report on Monday, August 10th. Wall Street Zen raised shares of Sun Life Financial from a “sell” rating to a “hold” rating in a report on Sunday, July 26th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Sun Life Financial in a report on Monday, August 10th.

Get Our Latest Report on Sun Life Financial

Institutional Investors Weigh In On Sun Life Financial

Several institutional investors have recently modified their holdings of SLF. Investment Research Partners LLC lifted its stake in Sun Life Financial by 1.6% in the third quarter. Investment Research Partners LLC now owns 10,561 shares of the financial services provider’s stock worth $823,000 after purchasing an additional 171 shares during the last quarter. Gold Investment Management Ltd. boosted its position in shares of Sun Life Financial by 2.2% during the third quarter. Gold Investment Management Ltd. now owns 46,802 shares of the financial services provider’s stock valued at $3,648,000 after buying an additional 1,005 shares during the period. Cardinal Capital Management Inc. boosted its position in shares of Sun Life Financial by 0.6% during the third quarter. Cardinal Capital Management Inc. now owns 1,176,271 shares of the financial services provider’s stock valued at $91,916,000 after buying an additional 7,497 shares during the period. Mather Group LLC. boosted its position in shares of Sun Life Financial by 10.8% during the third quarter. Mather Group LLC. now owns 1,449 shares of the financial services provider’s stock valued at $113,000 after buying an additional 141 shares during the period. Finally, Fortress Financial Solutions LLC bought a new position in shares of Sun Life Financial during the third quarter valued at approximately $522,000. 52.26% of the stock is owned by institutional investors.

Sun Life Financial Stock Down 0.8%

Shares of Sun Life Financial stock opened at $78.74 on Tuesday. Sun Life Financial has a twelve month low of $57.22 and a twelve month high of $84.38. The business has a 50-day moving average price of $79.32 and a 200-day moving average price of $76.43. The firm has a market cap of $43.73 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 1.97 and a beta of 0.89.

Sun Life Financial (NYSE:SLF – Get Free Report) (TSE:SLF) last announced its quarterly earnings results on Thursday, August 6th. The financial services provider reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.07. Sun Life Financial had a return on equity of 17.96% and a net margin of 7.66%. The company had revenue of $10.10 billion during the quarter, compared to analyst estimates of $994.33 million. On average, equities analysts expect that Sun Life Financial will post 5.77 EPS for the current fiscal year.

Sun Life Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Wednesday, August 26th were given a dividend of C$0.96 per share. The ex-dividend date was Wednesday, August 26th. This represents a $3.84 dividend on an annualized basis and a yield of 4.9%. Sun Life Financial’s dividend payout ratio is 64.02%.

About Sun Life Financial

(Get Free Report)

Sun Life Financial Inc (NYSE: SLF) is a Canadian financial services company that provides insurance, wealth, and asset management solutions to individuals, businesses, and institutions. Its offerings include life, health, and dental insurance; retirement and savings products; investment solutions; and employee benefits.

Through its asset management businesses, Sun Life provides investment management and advisory services to institutional and retail clients. The company also offers workplace pension, group insurance, and employee wellness programs, helping employers support the financial security and health of their employees.

Founded in Montreal in 1865, Sun Life serves clients primarily in Canada, the United States, and several Asian markets, including Hong Kong, the Philippines, Indonesia, India, and Vietnam.

Further Reading