Shares of Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) have earned an average rating of “Hold” from the ten brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $52.00.
Several analysts recently weighed in on the stock. BMO Capital Markets reiterated a “buy” rating and issued a $58.00 price target on shares of Sun Life Financial in a report on Friday, April 26th. Barclays cut shares of Sun Life Financial from an “overweight” rating to an “equal weight” rating in a report on Wednesday, June 12th. Zacks Investment Research upgraded shares of Sun Life Financial from a “sell” rating to a “hold” rating and set a $42.00 price target on the stock in a report on Friday, June 7th. ValuEngine upgraded shares of Sun Life Financial from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Finally, CIBC cut shares of Sun Life Financial from a “neutral” rating to an “underperform” rating and lifted their price target for the company from $53.00 to $54.00 in a report on Thursday, March 14th.
A number of large investors have recently added to or reduced their stakes in SLF. Norges Bank bought a new stake in shares of Sun Life Financial during the 4th quarter valued at $156,689,000. Beutel Goodman & Co Ltd. boosted its holdings in shares of Sun Life Financial by 10.7% during the 1st quarter. Beutel Goodman & Co Ltd. now owns 14,207,568 shares of the financial services provider’s stock valued at $545,823,000 after buying an additional 1,374,903 shares in the last quarter. Toronto Dominion Bank boosted its holdings in shares of Sun Life Financial by 33.6% during the 1st quarter. Toronto Dominion Bank now owns 3,986,188 shares of the financial services provider’s stock valued at $153,562,000 after buying an additional 1,002,332 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Sun Life Financial by 17.4% during the 1st quarter. CIBC Asset Management Inc now owns 6,374,052 shares of the financial services provider’s stock valued at $244,877,000 after buying an additional 944,977 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in shares of Sun Life Financial during the 1st quarter valued at $41,901,000. Institutional investors and hedge funds own 40.98% of the company’s stock.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Wednesday, May 8th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.29. The firm had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $7.35 billion. Sun Life Financial had a net margin of 7.96% and a return on equity of 13.58%. The business’s revenue was up 90.1% on a year-over-year basis. During the same quarter last year, the business earned $1.26 earnings per share. Sell-side analysts predict that Sun Life Financial will post 3.72 earnings per share for the current year.
Sun Life Financial Company Profile
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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