Sun Life Financial Inc. (NYSE:SLF) Receives Average Rating of “Buy” from Analysts

Shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) have received a consensus recommendation of “Buy” from the three research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company.

A number of analysts recently weighed in on SLF shares. Cormark upgraded shares of Sun Life Financial from a “hold” rating to a “moderate buy” rating in a research note on Thursday, February 13th. StockNews.com lowered shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, National Bank Financial upgraded shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, January 15th.

Institutional Investors Weigh In On Sun Life Financial

Several large investors have recently modified their holdings of the company. Human Investing LLC acquired a new stake in shares of Sun Life Financial during the fourth quarter worth $26,000. Assetmark Inc. lifted its holdings in shares of Sun Life Financial by 2,747.4% during the third quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 522 shares during the period. Addison Advisors LLC lifted its holdings in shares of Sun Life Financial by 124.9% during the third quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 361 shares during the period. Asset Planning Inc acquired a new stake in shares of Sun Life Financial during the fourth quarter worth $40,000. Finally, BankPlus Trust Department acquired a new stake in shares of Sun Life Financial during the fourth quarter worth $40,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Price Performance

NYSE SLF opened at $55.34 on Wednesday. The firm’s 50-day moving average is $58.04 and its two-hundred day moving average is $57.60. Sun Life Financial has a 12 month low of $46.41 and a 12 month high of $62.85. The stock has a market capitalization of $31.70 billion, a P/E ratio of 14.41, a PEG ratio of 1.52 and a beta of 1.03.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.30. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. As a group, analysts anticipate that Sun Life Financial will post 5.19 EPS for the current year.

Sun Life Financial Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Wednesday, February 26th will be issued a $0.5876 dividend. This represents a $2.35 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend is Wednesday, February 26th. Sun Life Financial’s payout ratio is currently 60.16%.

About Sun Life Financial

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.