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

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) has earned an average rating of “Buy” from the three ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company.

A number of research analysts recently commented on the company. Cormark raised Sun Life Financial from a “hold” rating to a “moderate buy” rating in a research note on Thursday, February 13th. National Bank Financial raised Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, January 15th. StockNews.com downgraded shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Sun Life Financial in a research note on Thursday.

Hedge Funds Weigh In On Sun Life Financial

A number of hedge funds have recently modified their holdings of SLF. HighPoint Advisor Group LLC increased its position in Sun Life Financial by 4.4% during the 1st quarter. HighPoint Advisor Group LLC now owns 4,330 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 181 shares during the period. Allianz Asset Management GmbH increased its position in shares of Sun Life Financial by 94.4% during the first quarter. Allianz Asset Management GmbH now owns 740,391 shares of the financial services provider’s stock valued at $42,368,000 after acquiring an additional 359,539 shares in the last quarter. AustralianSuper Pty Ltd raised its stake in shares of Sun Life Financial by 13.0% in the first quarter. AustralianSuper Pty Ltd now owns 155,229 shares of the financial services provider’s stock worth $8,886,000 after purchasing an additional 17,802 shares during the last quarter. Montrusco Bolton Investments Inc. raised its position in Sun Life Financial by 3,230.7% in the 1st quarter. Montrusco Bolton Investments Inc. now owns 352,150 shares of the financial services provider’s stock worth $20,152,000 after buying an additional 341,577 shares during the last quarter. Finally, Triasima Portfolio Management inc. boosted its holdings in Sun Life Financial by 46.2% in the first quarter. Triasima Portfolio Management inc. now owns 70,030 shares of the financial services provider’s stock worth $4,007,000 after purchasing an additional 22,130 shares during the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Trading Down 0.1 %

Shares of NYSE:SLF traded down $0.07 during midday trading on Tuesday, reaching $60.00. The company had a trading volume of 17,061 shares, compared to its average volume of 676,629. The stock has a market cap of $34.05 billion, a P/E ratio of 15.63, a P/E/G ratio of 1.52 and a beta of 0.90. The company’s 50 day moving average price is $56.52 and its 200 day moving average price is $57.93. Sun Life Financial has a 52-week low of $46.41 and a 52-week high of $62.85.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share 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%. Research analysts forecast that Sun Life Financial will post 5.19 EPS for the current fiscal year.

Sun Life Financial Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Wednesday, February 26th were paid a $0.5876 dividend. This represents a $2.35 annualized dividend and a dividend yield of 3.92%. The ex-dividend date was Wednesday, February 26th. Sun Life Financial’s payout ratio is 60.16%.

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.