Sun Life Financial (NYSE:SLF) Stock Price Passes Above 200 Day Moving Average of $42.47

Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $42.47 and traded as high as $44.71. Sun Life Financial shares last traded at $44.43, with a volume of 23,962 shares changing hands.

Several brokerages have weighed in on SLF. Barclays reiterated a “hold” rating on shares of Sun Life Financial in a report on Monday, August 26th. Royal Bank of Canada downgraded Sun Life Financial from an “outperform” rating to a “sector perform” rating and set a $67.00 price target on the stock. in a research report on Monday, December 2nd. Canaccord Genuity raised their price target on Sun Life Financial from $56.00 to $58.00 in a research note on Monday, October 28th. National Bank Financial lowered Sun Life Financial from an “outperform” rating to a “sector perform” rating in a research note on Thursday, November 7th. Finally, ValuEngine downgraded Sun Life Financial from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $54.71.

The firm has a market cap of $30.32 billion, a P/E ratio of 11.94, a PEG ratio of 1.32 and a beta of 0.91. The firm has a 50-day simple moving average of $45.41 and a 200-day simple moving average of $42.56.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $1.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.40. The business had revenue of $7.28 billion during the quarter. Sun Life Financial had a net margin of 6.43% and a return on equity of 13.20%. During the same quarter in the prior year, the firm posted $1.20 earnings per share. Equities analysts expect that Sun Life Financial Inc will post 3.74 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be issued a $0.418 dividend. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.40. This represents a $1.67 annualized dividend and a yield of 3.73%. The ex-dividend date is Tuesday, November 26th. Sun Life Financial’s payout ratio is currently 44.53%.

Hedge funds have recently modified their holdings of the company. Todd Asset Management LLC boosted its stake in Sun Life Financial by 13.2% in the 2nd quarter. Todd Asset Management LLC now owns 445,634 shares of the financial services provider’s stock worth $18,432,000 after purchasing an additional 51,895 shares in the last quarter. Motco lifted its stake in shares of Sun Life Financial by 8.7% during the third quarter. Motco now owns 104,194 shares of the financial services provider’s stock worth $4,669,000 after buying an additional 8,321 shares during the period. CSat Investment Advisory L.P. purchased a new stake in shares of Sun Life Financial during the second quarter valued at $302,000. Man Group plc grew its holdings in shares of Sun Life Financial by 81.7% during the second quarter. Man Group plc now owns 923,425 shares of the financial services provider’s stock valued at $38,267,000 after buying an additional 415,132 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its holdings in shares of Sun Life Financial by 24.6% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 1,413,174 shares of the financial services provider’s stock valued at $58,449,000 after buying an additional 279,121 shares during the last quarter. 36.34% of the stock is currently owned by institutional investors and hedge funds.

Sun Life Financial Company Profile (NYSE:SLF)

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.

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