Sun Life Financial (NYSE:SLF) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Sun Life Financial (NYSE:SLF) (TSE:SLF) from a hold rating to a buy rating in a research report released on Wednesday.

Separately, Barclays began coverage on shares of Sun Life Financial in a report on Thursday, September 5th. They set an “equal weight” rating on the stock.

Sun Life Financial Price Performance

SLF opened at $59.24 on Wednesday. Sun Life Financial has a 12 month low of $46.41 and a 12 month high of $59.81. The stock has a market capitalization of $37.33 billion, a P/E ratio of 13.19, a P/E/G ratio of 1.51 and a beta of 1.01. The business has a 50 day simple moving average of $56.82 and a 200-day simple moving average of $52.59.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Monday, August 12th. The financial services provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The company had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.72 billion. Sun Life Financial had a return on equity of 17.44% and a net margin of 7.32%. Research analysts anticipate that Sun Life Financial will post 4.87 EPS for the current year.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be issued a dividend of $0.621 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.59. This represents a $2.48 annualized dividend and a yield of 4.19%. Sun Life Financial’s payout ratio is currently 52.34%.

Institutional Trading of Sun Life Financial

Several large investors have recently bought and sold shares of SLF. West Family Investments Inc. boosted its position in shares of Sun Life Financial by 16.9% in the 3rd quarter. West Family Investments Inc. now owns 7,179 shares of the financial services provider’s stock worth $417,000 after buying an additional 1,039 shares in the last quarter. Natixis Advisors LLC increased its holdings in Sun Life Financial by 13.3% during the 3rd quarter. Natixis Advisors LLC now owns 43,246 shares of the financial services provider’s stock valued at $2,509,000 after acquiring an additional 5,086 shares in the last quarter. CIBC Asset Management Inc raised its position in Sun Life Financial by 1.3% during the third quarter. CIBC Asset Management Inc now owns 6,488,668 shares of the financial services provider’s stock worth $377,311,000 after acquiring an additional 81,261 shares during the last quarter. Plato Investment Management Ltd purchased a new stake in shares of Sun Life Financial in the third quarter valued at about $101,000. Finally, Entropy Technologies LP acquired a new stake in shares of Sun Life Financial in the third quarter valued at approximately $788,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

About Sun Life Financial

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.