Sun Life Financial Inc. (SLF) Lifted to "Buy" at Zacks Investment Research

Ivan Schwartz
August 12, 2017

The value of the investment in Sun Life Financial Inc. decreased from $16,889,000 to $13,078,000 decreasing 22.6% since the last quarter. Zacks Investment Research raised shares of Sun Life Financial from a "hold" rating to a "buy" rating and set a $40.00 price target on the stock in a research note on Tuesday, April 25th. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Lastly, Royal Bank Of Canada lifted Sun Life Financial from a "sector perform" recommendation to an "outperform" recommendation and fixed a $51.00 PT on the shares in a study report on early Wed, Jun 7th.

Bank of America Corporation has upgraded Sun Life Financial Inc (NYSE:SLF) to Neutral in a statement released on 07/10/2017.

The P/E ratio is now 11.39 and market cap is 23.53B.

"Our second quarter reflected strong earnings in all of our four business pillars, with underlying net income of $689 million, up 24 per cent over the same quarter previous year", said Dean Connor, Sun Life's President & CEO in an announcement issued August 9.

Sun Life Financial (SLF) opened at 37.46 on Friday. This represents a $1.38 annualized dividend and a yield of 3.61%. It also increased its holding in Independence Rlty Tr Inc (NYSEMKT:IRT) by 1.82M shares in the quarter, for a total of 2.50 million shares, and has risen its stake in Media Gen Inc New (NYSE:MEG). Sun Life Financial's payout ratio is now 40.06%.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.74 by $0.09. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Dropped 1.6% on Thursday" with publication date: "August 11, 2017. Using a bigger time frame to assess the moving average such as the 200-day, may help block out the noise and chaos that is often caused by daily price fluctuations. Next quarter's EPS is estimated at $0.80 and the next full year EPS is anticipated to be $3.39. The firm had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $7.36 billion.

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A number of research firms recently weighed in on SLF.

Media coverage about Sun Life Financial (NYSE:SLF) (TSE:SLF) has been trending somewhat positive on Thursday, Accern Sentiment Analysis reports. Sun Life Financial now has a consensus rating of "Hold" and a consensus price target of $45.83. ValuEngine cut Sun Life Financial from a "buy" rating to a "hold" rating in a research note on Friday, June 2nd. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

02/11/2016 - Sun Life Financial Inc. was upgraded to "sector outperform" by analysts at CIBC. If you are accessing this piece on another domain, it was stolen and republished in violation of United States and worldwide copyright laws. Institutional investors and hedge funds own 43.01% of the company's stock.

The following firms have also recently changed their position in SLF. Rational Advisors LLC now owns 4,538 shares of the financial services provider's stock valued at $166,000 after buying an additional 567 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of Sun Life Financial during the second quarter worth about $162,000. The legal version of this news story can be read at Finally, UBS Asset Management Americas Inc. raised its position in shares of Sun Life Financial by 13.3% in the first quarter. TD Asset Management Inc. now owns 20,568,078 shares of the financial services provider's stock worth $734,224,000 after buying an additional 351,938 shares during the last quarter.

Having a price of $36.20, Sun Life Financial Inc (NYSE:SLF) traded -1.91% lower on the day. Janney Montgomery Scott LLC now owns 6,126 shares of the financial services provider's stock valued at $219,000 after buying an additional 450 shares during the last quarter. VA purchased a new position in shares of Sun Life Financial during the first quarter valued at approximately $5,097,000. The firm earned "Hold" rating on Wednesday, July 27 by Jefferies.

Sun Life Financial is the holding company of Sun Life Assurance Company of Canada. The Firm is a financial services firm providing a range of insurance, wealth and asset management solutions to individuals and corporate Clients. It operates through five divisions. The Sun Life Financial Canada segment provides retail insurance and investment advice, products and services to people across Canada.

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