Sun Life Financial (NYSE:SLF) Price Target Lowered to C$75.00 at BMO Capital Markets

Sun Life Financial (NYSE:SLFGet Rating) (TSE:SLF) had its price target trimmed by BMO Capital Markets from C$80.00 to C$75.00 in a research note released on Friday, The Fly reports.

A number of other brokerages have also recently issued reports on SLF. Zacks Investment Research reiterated a hold rating on shares of Sun Life Financial in a research note on Thursday, March 17th. Scotiabank lowered their target price on shares of Sun Life Financial from C$71.00 to C$67.00 in a research note on Friday. National Bank Financial lowered their target price on shares of Sun Life Financial from C$76.00 to C$72.00 in a research note on Thursday. TD Securities lowered their target price on shares of Sun Life Financial from C$76.00 to C$72.00 in a research note on Thursday. Finally, StockNews.com started coverage on shares of Sun Life Financial in a research note on Thursday, March 31st. They set a hold rating on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $71.55.

Sun Life Financial stock traded up $0.82 during mid-day trading on Friday, reaching $47.62. The stock had a trading volume of 1,509,432 shares, compared to its average volume of 771,753. The company has a market capitalization of $27.91 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 1.08 and a beta of 1.06. The company has a 50-day moving average price of $53.22 and a two-hundred day moving average price of $54.54. Sun Life Financial has a one year low of $46.23 and a one year high of $58.49.

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

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

Institutional investors have recently added to or reduced their stakes in the stock. Antonetti Capital Management LLC purchased a new stake in Sun Life Financial in the 4th quarter worth approximately $56,000. Paragon Capital Management Ltd purchased a new stake in Sun Life Financial in the 4th quarter worth approximately $26,000. Tcwp LLC purchased a new stake in Sun Life Financial in the 1st quarter worth approximately $27,000. AdvisorNet Financial Inc increased its holdings in Sun Life Financial by 149.5% in the 1st quarter. AdvisorNet Financial Inc now owns 499 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 299 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in Sun Life Financial during the 1st quarter valued at approximately $30,000. 47.14% of the stock is owned by institutional investors.

About Sun Life Financial (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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