Sun Life Financial Inc (SLF) Receives Average Recommendation of "Buy" from Brokerages

Doris Richards
September 29, 2017

Beutel Goodman & Co Ltd increased its stake in Sun Life Fncl Inc (SLF) by 50.65% based on its latest 2017Q2 regulatory filing with the SEC.

Several other large investors have also modified their holdings of SLF. Fiera Capital Corp increased its position in shares of Sun Life Financial by 866.3% in the fourth quarter. The fund owned 192,919 shares of the company's stock after buying an additional 2,200 shares during the period. Workplace provides employees with "a collaborative space to share news and updates on company strategy, highlight articles of interest related to the business including its commitment to community and sustainable practices, reward and recognize employees, and celebrate key project milestones", stated Sun Life.

Shares of Sun Life Financial Inc. Comerica Bank now owns 42,533 shares of the financial services provider's stock worth $1,501,000 after purchasing an additional 490 shares during the period. IBC maintained Sun Life Financial Inc (TSE:SLF) rating on Tuesday, March 7. Bronfman E.L. Rothschild L.P. now owns 4,475 shares of the financial services provider's stock worth $160,000 after acquiring an additional 888 shares in the last quarter. Jones Collombin Investment Counsel Inc grew its holdings in shares of Sun Life Financial by 20.2% in the second quarter. Institutional investors and hedge funds own 40.90% of the company's stock. RBC Capital Markets maintained the shares of SLF in report on Friday, November 6 with "Outperform" rating. Argus Research downgraded the stock to "Hold" rating in Friday, December 23 report. As per Tuesday, June 21, the company rating was upgraded by Goldman Sachs. The stock of Sun Life Financial Inc (NYSE:SLF) earned "Underperform" rating by Bank of America on Wednesday, August 24.

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Sun Life Financial Inc (TSE:SLF) (NYSE:SLF) has been assigned an average rating of "Hold" from the twelve analysts that are covering the company, MarketBeat reports. The company has a market capitalization of $24.48 billion, a price-to-earnings ratio of 11.54 and a beta of 0.86. Sun Life Financial Inc. has a 1-year low of $31.42 and a 1-year high of $40.57. The stock has a 50 day moving average of $38.43 and a 200-day moving average of $36.17. The financial services provider reported $0.83 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.74 by $0.09. For the past 5 years, the company's revenue has grown 11.1%, while the company's earnings per share has grown -0.1%. In the latest earnings report the EPS was $3.46 and is projected to be $3.30 for the current year with 613,694,000 shares presently outstanding. Legg Mason Asset Management Japan sold 17,300 shares as the company's stock declined 12.84% while stock markets rallied. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Wednesday, August 30th will be issued a $0.3439 dividend.

More recent Sun Life Financial Inc (NYSE:SLF) news were published by: which released: "Sun Life Financial Inc. vs. Manulife Financial Corp." on August 30, 2017. This is an increase from Sun Life Financial's previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 3.67%. Sun Life Financial's dividend payout ratio (DPR) is now 44.48%. Sun Life Financial Inc. had 22 analyst reports since August 6, 2015 according to SRatingsIntel. The Firm is a financial services firm providing a range of insurance, wealth and asset management solutions to individuals and corporate Clients. It operates through five divisions.

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