Sun Life Financial (NYSE:SLF) Upgraded at 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 morning.

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

Sun Life Financial Stock Up 2.0 %

Shares of Sun Life Financial stock opened at $58.90 on Wednesday. The business has a 50-day moving average price of $56.62 and a 200 day moving average price of $52.48. The firm has a market cap of $37.11 billion, a P/E ratio of 13.12, a P/E/G ratio of 1.43 and a beta of 1.01. Sun Life Financial has a fifty-two week low of $46.41 and a fifty-two week high of $59.03.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings data on Monday, August 12th. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. Sun Life Financial had a net margin of 7.32% and a return on equity of 17.68%. The firm had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.72 billion. As a group, equities research analysts anticipate that Sun Life Financial will post 4.86 earnings per share for the current year.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th will be paid a $0.621 dividend. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 27th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.22%. Sun Life Financial’s dividend payout ratio is 52.34%.

Institutional Trading of Sun Life Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC increased its stake in Sun Life Financial by 2.6% in the 1st quarter. Signaturefd LLC now owns 22,939 shares of the financial services provider’s stock worth $1,252,000 after buying an additional 574 shares during the period. Csenge Advisory Group acquired a new position in Sun Life Financial in the first quarter valued at approximately $232,000. Sciencast Management LP acquired a new stake in shares of Sun Life Financial in the first quarter valued at approximately $595,000. Hilltop National Bank purchased a new position in Sun Life Financial in the first quarter worth $1,105,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Sun Life Financial during the 1st quarter worth about $315,000. 52.26% of the stock is owned by hedge funds and other institutional investors.

Sun Life Financial Company Profile

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.