Sun Life Financial (NYSE:SLF) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Sun Life Financial (NYSE:SLF – Get Rating) (TSE:SLF) in a report issued on Thursday morning. The brokerage issued a hold rating on the financial services provider’s stock.

A number of other equities research analysts have also recently commented on SLF. BMO Capital Markets raised their price target on Sun Life Financial from C$76.00 to C$78.00 in a report on Friday, February 10th. Scotiabank raised their price objective on Sun Life Financial from C$71.00 to C$75.00 in a research report on Friday, February 10th. Royal Bank of Canada raised their price objective on Sun Life Financial from C$75.00 to C$76.00 in a research report on Friday, February 10th. Credit Suisse Group raised their price objective on Sun Life Financial from C$74.00 to C$75.00 in a research report on Friday, February 10th. Finally, CIBC lowered Sun Life Financial from an outperform rating to a neutral rating in a research report on Thursday, February 9th. They noted that the move was a valuation call.

Sun Life Financial Stock Down 1.7 %

NYSE:SLF opened at $44.09 on Thursday. The business’s 50-day simple moving average is $48.82 and its two-hundred day simple moving average is $45.76. The stock has a market cap of $25.85 billion, a PE ratio of 11.02, a P/E/G ratio of 1.05 and a beta of 1.01. Sun Life Financial has a 52 week low of $37.96 and a 52 week high of $56.90.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 1st will be given a $0.541 dividend. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $2.16 annualized dividend and a yield of 4.91%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.53. Sun Life Financial’s dividend payout ratio (DPR) is currently 52.75%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Money Concepts Capital Corp purchased a new position in Sun Life Financial in the fourth quarter worth about $26,000. Achmea Investment Management B.V. purchased a new position in shares of Sun Life Financial during the first quarter valued at approximately $32,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Sun Life Financial during the third quarter valued at approximately $26,000. Addison Advisors LLC boosted its position in shares of Sun Life Financial by 205.8% during the third quarter. Addison Advisors LLC now owns 743 shares of the financial services provider’s stock valued at $30,000 after buying an additional 500 shares during the period. Finally, Asset Dedication LLC purchased a new position in shares of Sun Life Financial during the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 44.94% of the company’s stock.

Sun Life Financial Company Profile

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Sun Life Financial, Inc engages in the provision of insurance and asset management solutions to individual and corporate clients. It operates through the following segments: Canada, United States, Asset Management, Asia, and Corporate. The Canada segment offers individual insurance and group benefits and retirement services.