Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Equities research analysts at National Bank Financial lifted their Q4 2017 earnings estimates for Sun Life Financial in a research note issued on Thursday. National Bank Financial analyst G. Dechaine now expects that the financial services provider will earn $0.84 per share for the quarter, up from their previous estimate of $0.79.
Several other equities analysts also recently issued reports on SLF. TD Securities upped their target price on Sun Life Financial from $50.00 to $51.00 and gave the company a “hold” rating in a research report on Thursday, August 10th. BidaskClub raised Sun Life Financial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 19th. Zacks Investment Research downgraded Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. Finally, Morgan Stanley upped their target price on Sun Life Financial from $52.00 to $53.00 and gave the company an “equal weight” rating in a research report on Thursday, October 5th. Nine analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $50.00.
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Sun Life Financial (NYSE SLF) opened at $38.93 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.42 and a quick ratio of 4.42. Sun Life Financial has a 12-month low of $32.22 and a 12-month high of $40.57. The stock has a market capitalization of $23,793.65, a price-to-earnings ratio of 11.96, a P/E/G ratio of 1.77 and a beta of 0.92.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Wednesday, November 29th will be paid a dividend of $0.3565 per share. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.34. This represents a $1.43 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend is Tuesday, November 28th. Sun Life Financial’s dividend payout ratio is presently 42.12%.
Sun Life Financial declared that its Board of Directors has authorized a share buyback plan on Wednesday, August 9th that authorizes the company to repurchase 11,500,000 outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
A number of institutional investors have recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ lifted its stake in Sun Life Financial by 1,245.6% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 684,900 shares of the financial services provider’s stock valued at $27,273,000 after buying an additional 634,000 shares in the last quarter. Pinnacle Associates Ltd. purchased a new position in Sun Life Financial in the 3rd quarter valued at about $225,000. Dimensional Fund Advisors LP lifted its stake in Sun Life Financial by 3.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,586,703 shares of the financial services provider’s stock valued at $63,183,000 after buying an additional 47,039 shares in the last quarter. Hillsdale Investment Management Inc. lifted its stake in Sun Life Financial by 137.9% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 362,800 shares of the financial services provider’s stock valued at $14,457,000 after buying an additional 210,300 shares in the last quarter. Finally, Sii Investments Inc. WI purchased a new position in Sun Life Financial in the 3rd quarter valued at about $603,000. 40.98% of the stock is currently owned by hedge funds and other institutional investors.
About Sun Life Financial
Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services company providing a range of insurance, wealth and asset management solutions to individuals and corporate Clients. It operates through five segments. The Sun Life Financial Canada segment provides retail insurance and investment advice, products and services to people across Canada.
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