Sun Life Financial (NYSE:SLF) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $60.67 and traded as high as $62.96. Sun Life Financial shares last traded at $62.47, with a volume of 302,287 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SLF shares. UBS Group started coverage on shares of Sun Life Financial in a research report on Thursday, October 16th. They set a “neutral” rating for the company. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $84.00 price target on shares of Sun Life Financial in a research report on Monday, November 10th. Morgan Stanley set a $89.00 price target on shares of Sun Life Financial in a research note on Tuesday, October 7th. National Bankshares restated a “sector perform” rating on shares of Sun Life Financial in a research note on Thursday, November 6th. Finally, TD Securities raised Sun Life Financial from a “hold” rating to a “buy” rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $86.50.

Sun Life Financial Stock Performance

The company has a market cap of $34.90 billion, a P/E ratio of 16.71 and a beta of 0.87. The firm’s fifty day moving average is $60.22 and its two-hundred day moving average is $60.66.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.30 by $0.05. Sun Life Financial had a return on equity of 16.93% and a net margin of 7.53%.The business had revenue of $944.53 million for the quarter, compared to the consensus estimate of $944.53 million. During the same period in the previous year, the business earned $2.33 earnings per share. On average, equities research analysts expect that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, November 26th were issued a dividend of $0.92 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $3.68 dividend on an annualized basis and a yield of 5.9%. Sun Life Financial’s payout ratio is 69.68%.

Hedge Funds Weigh In On Sun Life Financial

Several institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC bought a new position in shares of Sun Life Financial during the 4th quarter valued at about $244,000. Baird Financial Group Inc. boosted its stake in Sun Life Financial by 7.2% during the first quarter. Baird Financial Group Inc. now owns 6,335 shares of the financial services provider’s stock valued at $363,000 after buying an additional 423 shares during the last quarter. AQR Capital Management LLC grew its holdings in Sun Life Financial by 113.8% during the 1st quarter. AQR Capital Management LLC now owns 8,022 shares of the financial services provider’s stock valued at $454,000 after buying an additional 4,270 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Sun Life Financial by 282.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,776,920 shares of the financial services provider’s stock worth $159,006,000 after acquiring an additional 2,050,891 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Sun Life Financial by 45.3% during the 1st quarter. Acadian Asset Management LLC now owns 101,000 shares of the financial services provider’s stock worth $5,776,000 after acquiring an additional 31,500 shares in the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

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.