Sun Life Financial Inc. (NYSE:SLF) Stock Has Consensus Target Price of $98.67

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) has earned a consensus recommendation of “Moderate Buy” from the twelve analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $98.67.

A number of equities analysts recently weighed in on SLF shares. TD Securities reiterated a “buy” rating on shares of Sun Life Financial in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Sun Life Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, August 31st. Royal Bank Of Canada lifted 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 report on Monday, August 10th. Scotiabank reiterated a “sector perform” rating on shares of Sun Life Financial in a research note on Monday, August 10th. Finally, UBS Group reissued a “neutral” rating on shares of Sun Life Financial in a report on Wednesday, September 2nd.

Institutional Trading of Sun Life Financial

Several large investors have recently bought and sold shares of SLF. BlackRock Inc. acquired a new position in Sun Life Financial during the 2nd quarter valued at about $81,587,000. Plato Investment Management Ltd acquired a new stake in shares of Sun Life Financial in the second quarter valued at approximately $2,888,000. Korea Investment CORP acquired a new stake in shares of Sun Life Financial in the second quarter valued at approximately $35,531,000. Osmosis Investment Management UK Ltd bought a new stake in shares of Sun Life Financial during the second quarter valued at approximately $1,637,000. Finally, Polar Asset Management Partners Inc. bought a new stake in shares of Sun Life Financial during the second quarter valued at approximately $78,481,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Price Performance

Sun Life Financial stock opened at $79.43 on Friday. The stock has a market cap of $44.16 billion, a PE ratio of 18.57, a P/E/G ratio of 2.01 and a beta of 0.87. The stock’s fifty day moving average is $80.70 and its two-hundred day moving average is $74.61. Sun Life Financial has a 1-year low of $57.22 and a 1-year high of $84.38.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings data on Thursday, August 6th. The financial services provider reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.07. The business had revenue of $10.10 billion during the quarter, compared to the consensus estimate of $994.33 million. Sun Life Financial had a net margin of 7.66% and a return on equity of 17.96%. On average, research analysts expect that Sun Life Financial will post 5.74 earnings per share for the current fiscal year.

Sun Life Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Wednesday, August 26th will be given a dividend of C$0.96 per share. This represents a $3.84 annualized dividend and a yield of 4.8%. The ex-dividend date is Wednesday, August 26th. Sun Life Financial’s dividend payout ratio is presently 64.02%.

Sun Life Financial Company Profile

Sun Life Financial Inc is a Canada-based financial services company that provides insurance, wealth, and asset management products to individuals, businesses, and institutions. Its offerings include life, health, and dental insurance; retirement and investment solutions; group benefits; and financial planning services.

Through its asset management operations, Sun Life serves institutional and individual investors with investment management and related advisory services. The company also provides workplace benefit and retirement programs designed to support employers and their employees.

Founded in 1865, Sun Life serves customers in Canada, the United States, the United Kingdom, and several markets in Asia.