StockNews.com Upgrades Sun Life Financial (NYSE:SLF) to Buy

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

Separately, National Bank Financial raised Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Sun Life Financial currently has an average rating of “Buy”.

Sun Life Financial Stock Up 0.1 %

NYSE:SLF opened at $58.59 on Monday. The business’s 50-day simple moving average is $59.73 and its two-hundred day simple moving average is $56.50. Sun Life Financial has a 52 week low of $46.41 and a 52 week high of $62.85. The stock has a market cap of $33.62 billion, a PE ratio of 13.05, a P/E/G ratio of 1.58 and a beta of 1.03.

Sun Life Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th were given a $0.621 dividend. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend was Wednesday, November 27th. Sun Life Financial’s payout ratio is currently 57.46%.

Hedge Funds Weigh In On Sun Life Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLF. The Manufacturers Life Insurance Company raised its holdings in shares of Sun Life Financial by 7.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 9,256,384 shares of the financial services provider’s stock worth $537,288,000 after acquiring an additional 654,404 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Sun Life Financial by 1.2% during the third quarter. JPMorgan Chase & Co. now owns 2,841,712 shares of the financial services provider’s stock valued at $164,876,000 after purchasing an additional 34,072 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Sun Life Financial during the third quarter valued at $878,000. FMR LLC lifted its position in Sun Life Financial by 5.2% during the third quarter. FMR LLC now owns 5,189,939 shares of the financial services provider’s stock valued at $301,047,000 after purchasing an additional 257,178 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Sun Life Financial by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,580,531 shares of the financial services provider’s stock worth $91,778,000 after buying an additional 79,155 shares in the last quarter. 52.26% of the stock is owned by 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.