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

Shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) have earned an average rating of “Buy” from the four ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company.

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

Sun Life Financial Trading Down 1.0 %

Shares of NYSE:SLF opened at $54.61 on Wednesday. The business has a 50-day moving average price of $58.22 and a 200 day moving average price of $57.36. The company has a market capitalization of $34.29 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 1.54 and a beta of 1.03. Sun Life Financial has a 12-month low of $46.41 and a 12-month high of $62.85.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings data 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 return on equity of 16.86% and a net margin of 8.08%. As a group, equities research analysts predict that Sun Life Financial will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Wednesday, February 26th will be paid a dividend of $0.5876 per share. This represents a $2.35 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend is Wednesday, February 26th. Sun Life Financial’s payout ratio is 67.19%.

Institutional Investors Weigh In On Sun Life Financial

Institutional investors have recently added to or reduced their stakes in the business. Private Advisor Group LLC increased its position in Sun Life Financial by 2.1% during the fourth quarter. Private Advisor Group LLC now owns 8,643 shares of the financial services provider’s stock worth $513,000 after buying an additional 181 shares during the period. Checchi Capital Advisers LLC grew its holdings in Sun Life Financial by 5.4% during the fourth quarter. Checchi Capital Advisers LLC now owns 3,719 shares of the financial services provider’s stock worth $221,000 after acquiring an additional 192 shares during the period. Assenagon Asset Management S.A. grew its holdings in Sun Life Financial by 0.3% during the third quarter. Assenagon Asset Management S.A. now owns 62,589 shares of the financial services provider’s stock worth $3,635,000 after acquiring an additional 200 shares during the period. Erste Asset Management GmbH boosted its position in Sun Life Financial by 0.7% during the fourth quarter. Erste Asset Management GmbH now owns 28,400 shares of the financial services provider’s stock worth $1,693,000 after purchasing an additional 200 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in Sun Life Financial by 4.5% during the fourth quarter. Tidal Investments LLC now owns 5,147 shares of the financial services provider’s stock worth $305,000 after purchasing an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Company Profile

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.