Sun Life Financial (NYSE:SLF) (TSE:SLF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, January 10th. The brokerage currently has a $47.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 7.85% from the company’s previous close.
According to Zacks, “Sun Life’s aggressive re-designing of products, improved pricing, and focus on segments with higher growth and return complemented by market factor of reduced interest rate and market risk bode well. A strong balance sheet and effective capital deployment in growth initiatives will fuel earning, ROE and enhance shareholders’ value. The company continues to forge ahead with its digital and wealth initiatives in Canada, strong sales momentum in Asia, the scaling and integration of its U.S. operations, and strong long-term investment performance in asset management businesses. It targets medium-term EPS growth between 8% and 10%. However, increasing expenses remain a headwind. The company expects to incur restructuring charge of $35-$40 million in the fourth quarter of 2017. Also, shares of Sun Life underperformed the industry, in a year's time.”
A number of other equities research analysts have also recently commented on the company. BMO Capital Markets reaffirmed a “hold” rating and set a $52.00 price objective on shares of Sun Life Financial in a research note on Friday, November 24th. Morgan Stanley lifted their price objective on Sun Life Financial from $52.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 5th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $52.83.
Sun Life Financial (NYSE SLF) traded up $0.21 during mid-day trading on Wednesday, reaching $43.58. The company had a trading volume of 472,615 shares, compared to its average volume of 493,233. The firm has a market cap of $26,400.67, a PE ratio of 13.21, a price-to-earnings-growth ratio of 1.71 and a beta of 0.93. Sun Life Financial has a 12-month low of $32.22 and a 12-month high of $44.50. 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 (NYSE:SLF) (TSE:SLF) last released its earnings results on Wednesday, November 8th. The financial services provider reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.05. The company had revenue of $4.43 billion during the quarter. Sun Life Financial had a return on equity of 13.17% and a net margin of 11.94%. equities research analysts forecast that Sun Life Financial will post 3.22 earnings per share for the current year.
Several institutional investors have recently modified their holdings of the company. Advisory Services Network LLC lifted its holdings in shares of Sun Life Financial by 0.7% in the second quarter. Advisory Services Network LLC now owns 5,338 shares of the financial services provider’s stock valued at $191,000 after purchasing an additional 38 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Sun Life Financial by 4.3% in the second quarter. Stifel Financial Corp now owns 6,060 shares of the financial services provider’s stock valued at $216,000 after purchasing an additional 249 shares in the last quarter. Gotham Asset Management LLC lifted its holdings in shares of Sun Life Financial by 8.4% in the second quarter. Gotham Asset Management LLC now owns 8,820 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 683 shares in the last quarter. Hillsdale Investment Management Inc. lifted its holdings in shares of Sun Life Financial by 0.7% in the second quarter. Hillsdale Investment Management Inc. now owns 152,500 shares of the financial services provider’s stock valued at $5,453,000 after purchasing an additional 1,050 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Sun Life Financial by 1.4% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 97,300 shares of the financial services provider’s stock valued at $3,098,000 after purchasing an additional 1,300 shares in the last quarter. Institutional investors own 41.05% of the company’s stock.
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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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