Sun Life Financial (NYSE:SLF) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $60.74 and traded as high as $62.89. Sun Life Financial shares last traded at $62.47, with a volume of 174,036 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have commented on SLF shares. Evercore ISI restated an “outperform” rating on shares of Sun Life Financial in a research report on Thursday, October 9th. Argus upgraded Sun Life Financial to a “strong-buy” rating in a report on Thursday, September 4th. TD Securities upgraded shares of Sun Life Financial from a “hold” rating to a “buy” rating in a report on Tuesday, October 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Sun Life Financial in a research report on Wednesday, October 8th. Finally, Barclays reaffirmed an “underweight” rating on shares of Sun Life Financial in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Sun Life Financial presently has a consensus rating of “Hold” and a consensus price target of $86.50.

Sun Life Financial Stock Performance

The stock has a market cap of $34.61 billion, a P/E ratio of 16.57 and a beta of 0.87. The company has a 50-day simple moving average of $60.05 and a 200-day simple moving average of $60.75.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. The company had revenue of $944.53 million for the quarter, compared to the consensus estimate of $944.53 million. Sun Life Financial had a return on equity of 16.93% and a net margin of 7.53%.During the same quarter in the prior year, the business posted $2.33 EPS. As a group, sell-side analysts expect that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, November 26th will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 5.9%. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Wednesday, November 26th. Sun Life Financial’s dividend payout ratio (DPR) is presently 69.68%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SLF. Private Trust Co. NA lifted its position in Sun Life Financial by 130.6% during the second quarter. Private Trust Co. NA now owns 429 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 243 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Sun Life Financial by 184.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 588 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 381 shares during the period. Westside Investment Management Inc. grew its holdings in shares of Sun Life Financial by 62.8% during the 2nd quarter. Westside Investment Management Inc. now owns 578 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 223 shares in the last quarter. Tobam acquired a new position in Sun Life Financial in the second quarter valued at about $44,000. Finally, Addison Advisors LLC lifted its position in Sun Life Financial by 48.8% during the second quarter. Addison Advisors LLC now owns 704 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 231 shares during the period. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Company Profile

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.