Barclays initiated coverage on shares of Sun Life Financial (NYSE:SLF – Free Report) (TSE:SLF) in a research note published on Thursday, Marketbeat Ratings reports. The brokerage issued an equal weight rating on the financial services provider’s stock.
Separately, Argus raised shares of Sun Life Financial to a strong-buy rating in a report on Monday, June 3rd.
Get Our Latest Stock Analysis on Sun Life Financial
Sun Life Financial Trading Down 0.5 %
Shares of SLF opened at $55.13 on Thursday. Sun Life Financial has a 12-month low of $44.57 and a 12-month high of $55.65. The firm has a 50-day moving average price of $50.74 and a 200 day moving average price of $51.50. The firm has a market capitalization of $31.84 billion, a P/E ratio of 14.10, a P/E/G ratio of 1.40 and a beta of 1.00.
Sun Life Financial (NYSE:SLF – Get Free Report) (TSE:SLF) last announced its quarterly earnings data on Monday, August 12th. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Sun Life Financial had a net margin of 8.60% and a return on equity of 17.47%. The firm had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.72 billion. Equities research analysts predict that Sun Life Financial will post 4.87 earnings per share for the current fiscal year.
Sun Life Financial Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Wednesday, August 28th will be paid a dividend of $0.587 per share. This represents a $2.35 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend is Wednesday, August 28th. Sun Life Financial’s dividend payout ratio (DPR) is presently 60.10%.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co boosted its stake in Sun Life Financial by 3.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 630,708 shares of the financial services provider’s stock worth $34,474,000 after buying an additional 23,235 shares during the period. Prudential PLC boosted its stake in Sun Life Financial by 15.9% during the fourth quarter. Prudential PLC now owns 349,027 shares of the financial services provider’s stock worth $18,102,000 after buying an additional 47,755 shares during the period. UBS Group AG lifted its position in shares of Sun Life Financial by 36.8% during the fourth quarter. UBS Group AG now owns 696,047 shares of the financial services provider’s stock worth $36,097,000 after purchasing an additional 187,064 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Sun Life Financial by 20.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,620,801 shares of the financial services provider’s stock worth $84,055,000 after purchasing an additional 275,334 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of Sun Life Financial by 108.3% during the first quarter. Cetera Investment Advisers now owns 64,240 shares of the financial services provider’s stock worth $3,506,000 after purchasing an additional 33,401 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.
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.
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