Sun Life Financial (NYSE:SLF) (TSE:SLF)‘s stock had its “hold” rating reissued by equities research analysts at Canaccord Genuity in a research note issued to investors on Tuesday, February 5th.
A number of other research firms also recently issued reports on SLF. Argus upgraded Sun Life Financial from a “hold” rating to a “buy” rating in a research note on Monday, December 31st. They noted that the move was a valuation call. CIBC reiterated an “average” rating and set a $53.00 price target on shares of Sun Life Financial in a research note on Thursday, December 20th. Barclays reiterated a “buy” rating on shares of Sun Life Financial in a research note on Friday, November 9th. Zacks Investment Research upgraded Sun Life Financial from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Wednesday, October 10th. Finally, Desjardins reissued a “buy” rating on shares of Sun Life Financial in a research report on Tuesday, October 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $52.00.
NYSE:SLF traded up $0.08 during trading hours on Tuesday, reaching $37.88. 561,572 shares of the company were exchanged, compared to its average volume of 520,877. The company has a market capitalization of $22.63 billion, a P/E ratio of 10.10 and a beta of 0.86. Sun Life Financial has a 1-year low of $31.49 and a 1-year high of $43.99.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Wednesday, February 13th. The financial services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.32. Sun Life Financial had a return on equity of 13.83% and a net margin of 9.71%. The firm had revenue of $8.18 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same period in the prior year, the company earned $1.05 earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis. Sell-side analysts predict that Sun Life Financial will post 3.77 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in SLF. Renaissance Technologies LLC grew its stake in Sun Life Financial by 682.0% in the 2nd quarter. Renaissance Technologies LLC now owns 143,100 shares of the financial services provider’s stock valued at $5,750,000 after buying an additional 124,800 shares in the last quarter. Raymond James & Associates lifted its stake in shares of Sun Life Financial by 34.4% in the 2nd quarter. Raymond James & Associates now owns 7,929 shares of the financial services provider’s stock valued at $319,000 after purchasing an additional 2,030 shares during the period. Northern Trust Corp raised its position in Sun Life Financial by 3.4% during the second quarter. Northern Trust Corp now owns 545,330 shares of the financial services provider’s stock worth $21,890,000 after acquiring an additional 17,817 shares during the period. Bank of Montreal Can raised its position in Sun Life Financial by 19.0% during the third quarter. Bank of Montreal Can now owns 12,771,456 shares of the financial services provider’s stock worth $507,793,000 after acquiring an additional 2,039,994 shares during the period. Finally, City Holding Co. acquired a new position in Sun Life Financial during the third quarter worth $289,000. Institutional investors and hedge funds own 41.07% of the company’s stock.
About Sun Life Financial
Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.
Further Reading: The Structure of a Futures Contract
Receive News & Ratings for Sun Life Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Life Financial and related companies with MarketBeat.com's FREE daily email newsletter.