Sun Life Financial (NYSE:SLF) price target cut to C$68.00 by TD Securities analysts
Sun Life Financial (NYSE:SLF – Get Rating) (TSE:SLF) had its price target lowered by TD Securities from CA$72.00 to CA$68.00 in a research report sent to investors on Wednesday morning, reports The Fly.
A number of other research analysts have also recently published reports on the company. StockNews.com launched coverage on Sun Life Financial in a research note on Thursday, March 31. They have set a holding rating on the stock. National Bank Financial lowered its price target on Sun Life Financial from C$76.00 to C$72.00 in a Thursday, May 12 research note. Canaccord Genuity Group lowered its price target on Sun Life Financial from C$75.50 to C$67.00 in a Sunday, May 15 research note. BMO Capital Markets lowered its price target on Sun Life Financial from C$80.00 to C$75.00 in a Friday, May 13 research note. Finally, Zacks Investment Research reiterated a hold note on Sun Life Financial stocks in a Thursday, March 17 research note. One research analyst rated the stock with a sell rating, four issued a hold rating and six issued the company a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $70.38.
NYSE SLF shares opened at $49.41 on Wednesday. Sun Life Financial has a fifty-two week low of $46.23 and a fifty-two week high of $58.49. The company has a market capitalization of $28.96 billion, a PE ratio of 9.45, a growth price-earnings ratio of 1.15 and a beta of 1.06. The stock’s 50-day simple moving average is $51.81 and its 200-day simple moving average is $53.79.
Sun Life Financial (NYSE:SLF – Get Rating) (TSE:SLF) last released its results on Wednesday, May 11. The financial services provider reported earnings per share of $1.14 for the quarter, beating the consensus estimate of $1.11 by $0.03. Sun Life Financial achieved a return on equity of 13.66% and a net margin of 11.38%. The company had revenue of $300.00 million for the quarter. On average, sell-side analysts expect Sun Life Financial to post earnings per share of 4.83 for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30. Investors of record on Wednesday, June 1 will receive a dividend of $0.537. The ex-dividend date is Tuesday, May 31. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.52. This represents a dividend of $2.15 on an annualized basis and a dividend yield of 4.35%. Sun Life Financial’s payout ratio is 39.77%.
Several institutional investors have recently bought and sold shares of SLF. Paragon Capital Management Ltd acquired a new position in shares of Sun Life Financial in the fourth quarter worth $26,000. Tcwp LLC acquired a new position in shares of Sun Life Financial in the first quarter worth $27,000. AdvisorNet Financial Inc. increased its stake in Sun Life Financial shares by 149.5% in the first quarter. AdvisorNet Financial Inc now owns 499 shares of the financial services provider worth $28,000 after acquiring 299 additional shares in the last quarter. Mark Sheptoff Financial Planning LLC acquired a new position in Sun Life Financial shares in the first quarter worth $30,000. Finally, Achmea Investment Management BV acquired a new position in Sun Life Financial shares in the first quarter worth $32,000. Hedge funds and other institutional investors hold 47.14% of the company’s shares.
About Sun Life Financial (Get a rating)
Sun Life Financial Inc, a financial services company, provides insurance, wealth and asset management solutions to individuals and businesses worldwide. It offers term and permanent life insurance products, as well as personal health, dental, critical illness, long-term care and disability insurance products. The company also offers reinsurance products; investment advisory and portfolio management services; mutual funds and segregated funds; trust and banking services; real estate brokerage and appraisal services; and merchant banking.
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