Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) – Equities research analysts at Desjardins lifted their FY2017 earnings per share estimates for shares of Sun Life Financial in a report issued on Wednesday. Desjardins analyst D. Young now forecasts that the financial services provider will post earnings of $3.20 per share for the year, up from their previous estimate of $3.14. Desjardins also issued estimates for Sun Life Financial’s FY2018 earnings at $3.56 EPS and FY2019 earnings at $3.84 EPS.
A number of other research firms also recently issued reports on SLF. BMO Capital Markets restated a “hold” rating and issued a $52.00 price target on shares of Sun Life Financial in a research report on Friday, November 24th. Zacks Investment Research downgraded shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Finally, Morgan Stanley raised their price target on shares of Sun Life Financial from $52.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $50.80.
Sun Life Financial (NYSE:SLF) opened at $41.95 on Friday. 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 52-week low of $32.22 and a 52-week high of $42.11. The stock has a market cap of $25,650.00, a PE ratio of 12.12, a PEG ratio of 1.72 and a beta of 0.93.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Wednesday, November 29th were issued a $0.3565 dividend. This represents a $1.43 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend was Tuesday, November 28th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.34. Sun Life Financial’s dividend payout ratio (DPR) is 41.91%.
Several hedge funds have recently added to or reduced their stakes in the stock. Hexavest Inc. increased its holdings in shares of Sun Life Financial by 70.3% in the 4th quarter. Hexavest Inc. now owns 466,545 shares of the financial services provider’s stock worth $19,318,000 after acquiring an additional 192,580 shares during the period. Atlantic Trust Group LLC increased its holdings in shares of Sun Life Financial by 10.9% in the 3rd quarter. Atlantic Trust Group LLC now owns 37,127 shares of the financial services provider’s stock worth $1,479,000 after acquiring an additional 3,634 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Sun Life Financial in the 3rd quarter worth about $402,000. Beacon Investment Advisory Services Inc. acquired a new stake in shares of Sun Life Financial in the 3rd quarter worth about $375,000. Finally, First Republic Investment Management Inc. increased its holdings in shares of Sun Life Financial by 72.3% in the 3rd quarter. First Republic Investment Management Inc. now owns 13,231 shares of the financial services provider’s stock worth $527,000 after acquiring an additional 5,552 shares during the period. 41.15% of the stock is currently owned by institutional investors and hedge funds.
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Sun Life Financial Company Profile
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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