Sun Life Financial (NYSE:SLF) (TSE:SLF) was downgraded by investment analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Wednesday, Briefing.com Automated Import reports.
Several other equities research analysts also recently issued reports on the company. BMO Capital Markets reaffirmed a “buy” rating and issued a $58.00 price target on shares of Sun Life Financial in a research report on Friday, April 26th. CIBC downgraded Sun Life Financial from a “neutral” rating to an “underperform” rating and raised their price target for the company from $53.00 to $54.00 in a research report on Thursday, March 14th. Scotiabank reaffirmed a “hold” rating and issued a $54.00 price target on shares of Sun Life Financial in a research report on Wednesday, February 20th. ValuEngine raised Sun Life Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Finally, Zacks Investment Research raised Sun Life Financial from a “sell” rating to a “hold” rating and set a $42.00 price target on the stock in a research report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $52.20.
Sun Life Financial stock opened at $40.15 on Wednesday. The firm has a market cap of $24.09 billion, a price-to-earnings ratio of 10.71 and a beta of 0.88. Sun Life Financial has a one year low of $31.49 and a one year high of $42.50.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.29. The company had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $7.35 billion. Sun Life Financial had a return on equity of 13.58% and a net margin of 7.96%. The firm’s revenue was up 90.1% compared to the same quarter last year. During the same period last year, the business posted $1.26 earnings per share. Equities analysts anticipate that Sun Life Financial will post 3.72 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bremer Trust National Association bought a new stake in shares of Sun Life Financial in the fourth quarter valued at about $28,000. Bremer Bank National Association bought a new stake in shares of Sun Life Financial in the first quarter valued at about $34,000. Enlightenment Research LLC bought a new stake in shares of Sun Life Financial in the fourth quarter valued at about $33,000. Arbor Wealth Management LLC bought a new stake in shares of Sun Life Financial in the fourth quarter valued at about $33,000. Finally, Lindbrook Capital LLC bought a new stake in shares of Sun Life Financial in the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 41.00% 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 worldwide. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.
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