Sun Life Financial (NYSE:SLF) Lifted to Strong-Buy at Argus

Argus upgraded shares of Sun Life Financial (NYSE:SLFFree Report) (TSE:SLF) to a strong-buy rating in a research note issued to investors on Monday, Zacks.com reports.

Separately, Jefferies Financial Group initiated coverage on shares of Sun Life Financial in a research note on Thursday, February 22nd. They issued a buy rating on the stock.

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Sun Life Financial Stock Performance

Shares of SLF stock opened at $49.24 on Monday. The firm’s 50-day moving average is $51.49 and its 200-day moving average is $52.03. The stock has a market cap of $28.61 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.27 and a beta of 1.00. Sun Life Financial has a 52-week low of $44.57 and a 52-week high of $55.46.

Sun Life Financial (NYSE:SLFGet Free Report) (TSE:SLF) last announced its quarterly earnings results on Thursday, May 9th. The financial services provider reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.09). Sun Life Financial had a net margin of 8.94% and a return on equity of 16.97%. The company had revenue of $5.10 billion during the quarter, compared to analyst estimates of $7.25 billion. Sell-side analysts predict that Sun Life Financial will post 4.88 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Wednesday, May 29th will be given a dividend of $0.588 per share. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date is Wednesday, May 29th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.58. Sun Life Financial’s dividend payout ratio is presently 60.10%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sequoia Financial Advisors LLC grew its position in shares of Sun Life Financial by 2.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 10,302 shares of the financial services provider’s stock worth $562,000 after purchasing an additional 221 shares in the last quarter. Intrust Bank NA grew its position in shares of Sun Life Financial by 5.4% during the 4th quarter. Intrust Bank NA now owns 4,450 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 226 shares in the last quarter. Burney Co. grew its position in shares of Sun Life Financial by 0.3% during the 1st quarter. Burney Co. now owns 89,252 shares of the financial services provider’s stock worth $4,871,000 after purchasing an additional 238 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Sun Life Financial by 6.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,127 shares of the financial services provider’s stock worth $214,000 after purchasing an additional 267 shares in the last quarter. Finally, Claret Asset Management Corp grew its position in shares of Sun Life Financial by 3.4% during the 1st quarter. Claret Asset Management Corp now owns 8,334 shares of the financial services provider’s stock worth $455,000 after purchasing an additional 272 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

About Sun Life Financial

(Get Free Report)

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.

Further Reading

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