Sun Life Financial (NYSE:SLF) Given New C$67.00 Price Target at Scotiabank

Sun Life Financial (NYSE:SLF – Get Rating) (TSE:SLF) had its price objective trimmed by Scotiabank from C$71.00 to C$67.00 in a report published on Friday morning, The Fly reports.

A number of other analysts have also weighed in on SLF. National Bank Financial lowered their price target on shares of Sun Life Financial from C$76.00 to C$72.00 in a report on Thursday. TD Securities reduced their price target on shares of Sun Life Financial from C$76.00 to C$72.00 in a research report on Thursday. StockNews.com began coverage on shares of Sun Life Financial in a research report on Thursday, March 31st. They set a hold rating on the stock. Zacks Investment Research reaffirmed a hold rating on shares of Sun Life Financial in a research report on Thursday, March 17th. Finally, BMO Capital Markets lowered their price target on shares of Sun Life Financial from C$81.00 to C$80.00 in a research note on Friday, February 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $71.55.

Shares of NYSE:SLF traded up $0.82 on Friday, reaching $47.62. 1,509,432 shares of the company were exchanged, compared to its average volume of 771,753. The company has a 50-day moving average of $53.22 and a 200-day moving average of $54.54. Sun Life Financial has a 1-year low of $46.23 and a 1-year high of $58.49. The firm has a market cap of $27.91 billion, a price-to-earnings ratio of 9.11, a price-to-earnings-growth ratio of 1.08 and a beta of 1.06.

Sun Life Financial (NYSE:SLF – Get Rating) (TSE:SLF) last announced its quarterly earnings results on Wednesday, February 9th. The financial services provider reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.01). The business had revenue of $10.31 billion for the quarter. Sun Life Financial had a return on equity of 13.81% and a net margin of 11.38%. During the same period last year, the company posted $1.13 EPS. As a group, analysts expect that Sun Life Financial will post 4.89 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 1st will be issued a $0.537 dividend. The ex-dividend date is Tuesday, May 31st. This represents a $2.15 dividend on an annualized basis and a yield of 4.51%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.52. Sun Life Financial’s payout ratio is currently 39.77%.

Several institutional investors have recently modified their holdings of SLF. Advisor Group Holdings Inc. lifted its holdings in shares of Sun Life Financial by 31.4% during the 3rd quarter. Advisor Group Holdings Inc. now owns 24,760 shares of the financial services provider’s stock worth $1,273,000 after acquiring an additional 5,913 shares during the period. JustInvest LLC lifted its stake in Sun Life Financial by 20.4% in the 3rd quarter. JustInvest LLC now owns 7,243 shares of the financial services provider’s stock valued at $373,000 after purchasing an additional 1,225 shares during the last quarter. BlackRock Inc. lifted its stake in Sun Life Financial by 0.4% in the 3rd quarter. BlackRock Inc. now owns 481,303 shares of the financial services provider’s stock valued at $24,763,000 after purchasing an additional 2,079 shares during the last quarter. NN Investment Partners Holdings N.V. lifted its stake in Sun Life Financial by 80.5% in the 3rd quarter. NN Investment Partners Holdings N.V. now owns 230,515 shares of the financial services provider’s stock valued at $11,861,000 after purchasing an additional 102,788 shares during the last quarter. Finally, Creative Planning lifted its stake in Sun Life Financial by 6.9% in the 3rd quarter. Creative Planning now owns 7,988 shares of the financial services provider’s stock valued at $411,000 after purchasing an additional 518 shares during the last quarter. 47.14% of the stock is owned by institutional investors.

Sun Life Financial Company Profile (Get Rating)

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company also provides reinsurance products; investment counselling and portfolio management services; mutual funds and segregated funds; trust and banking services; real estate property brokerage and appraisal services; and merchant banking services.

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