Traders sold shares of Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) on strength during trading hours on Monday. $2.61 million flowed into the stock on the tick-up and $24.07 million flowed out of the stock on the tick-down, for a money net flow of $21.46 million out of the stock. Of all stocks tracked, Sun Life Financial had the 29th highest net out-flow for the day. Sun Life Financial traded up $0.08 for the day and closed at $37.69
SLF has been the topic of several research reports. Evercore ISI initiated coverage on Sun Life Financial in a report on Tuesday, July 10th. They set an “outperform” rating on the stock. Zacks Investment Research raised Sun Life Financial from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Tuesday, July 10th. ValuEngine lowered Sun Life Financial from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Finally, Desjardins reaffirmed a “buy” rating on shares of Sun Life Financial in a report on Tuesday, October 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $53.75.
The company has a debt-to-equity ratio of 0.20, a current ratio of 4.06 and a quick ratio of 4.06. The firm has a market capitalization of $22.73 billion, a PE ratio of 11.77 and a beta of 0.81.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings results on Wednesday, August 8th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.32. Sun Life Financial had a return on equity of 13.44% and a net margin of 9.24%. The firm had revenue of $5.29 billion for the quarter. During the same period in the prior year, the business earned $1.12 EPS. As a group, analysts anticipate that Sun Life Financial Inc will post 3.58 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Wednesday, August 29th were issued a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend was Tuesday, August 28th. Sun Life Financial’s dividend payout ratio is currently 45.63%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Suntrust Banks Inc. grew its holdings in shares of Sun Life Financial by 22.3% during the first quarter. Suntrust Banks Inc. now owns 6,707 shares of the financial services provider’s stock worth $275,000 after buying an additional 1,225 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Sun Life Financial by 15.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 9,804 shares of the financial services provider’s stock worth $394,000 after buying an additional 1,330 shares during the last quarter. Vident Investment Advisory LLC grew its holdings in shares of Sun Life Financial by 1.7% during the second quarter. Vident Investment Advisory LLC now owns 83,137 shares of the financial services provider’s stock worth $3,344,000 after buying an additional 1,365 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Sun Life Financial by 14.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,616 shares of the financial services provider’s stock valued at $477,000 after purchasing an additional 1,449 shares in the last quarter. Finally, K.J. Harrison & Partners Inc boosted its holdings in Sun Life Financial by 19.2% in the 2nd quarter. K.J. Harrison & Partners Inc now owns 10,255 shares of the financial services provider’s stock valued at $412,000 after purchasing an additional 1,650 shares in the last quarter. 41.51% of the stock is currently owned by hedge funds and other institutional investors.
Sun Life Financial Company Profile (NYSE:SLF)
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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