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

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $45.00 price target on the financial services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.95% from the company’s previous close.

According to Zacks, “Sun Life’s aggressive re-designing of products, improved pricing, and focus on segments with higher growth and return complemented by market factor of reduced interest rate and market risk bode well. A strong balance sheet and effective capital deployment in growth initiatives will fuel earning, ROE and enhance shareholders’ value. The company continues to forge ahead with its digital and wealth initiatives in Canada, strong sales momentum in Asia, the scaling and integration of its U.S. operations, and strong long-term investment performance in asset management businesses. It targets medium-term EPS growth between 8% and 10%. The company also witnessed estimates moving north over the last 60 days. However, exposure to macro headwinds, regulatory uncertainties and low rates are headwinds. Also, shares of Sun Life Financial underperformed industry quarter to date.”

Several other research firms also recently issued reports on SLF. Bank of America Corporation raised shares of Sun Life Financial from an “underperform” rating to a “hold” rating in a report on Monday, July 10th. TD Securities upped their price objective on shares of Sun Life Financial from $50.00 to $51.00 and gave the stock a “hold” rating in a report on Thursday, August 10th. ValuEngine raised shares of Sun Life Financial from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. BidaskClub raised shares of Sun Life Financial from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Finally, Morgan Stanley upped their price objective on shares of Sun Life Financial from $52.00 to $53.00 and gave the stock an “equal weight” rating in a report on Thursday, October 5th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Sun Life Financial presently has an average rating of “Hold” and a consensus price target of $50.00.

Shares of Sun Life Financial (NYSE:SLF) traded up 1.31% during trading on Tuesday, reaching $40.36. 230,717 shares of the company’s stock were exchanged. Sun Life Financial has a 52-week low of $32.03 and a 52-week high of $40.57. The company has a 50 day moving average of $38.93 and a 200 day moving average of $36.48. The firm has a market capitalization of $24.77 billion, a P/E ratio of 11.68 and a beta of 0.88.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.09. The business had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $7.36 billion. Sun Life Financial had a net margin of 12.48% and a return on equity of 13.29%. Sun Life Financial’s quarterly revenue was down 14.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 EPS. Equities analysts anticipate that Sun Life Financial will post $3.25 earnings per share for the current fiscal year.

Sun Life Financial announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 9th that authorizes the company to repurchase 11,500,000 shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

ILLEGAL ACTIVITY NOTICE: “Sun Life Financial Inc. (SLF) Raised to Buy at Zacks Investment Research” was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark and copyright legislation. The legal version of this piece can be viewed at https://ledgergazette.com/2017/10/10/sun-life-financial-inc-slf-raised-to-buy-at-zacks-investment-research.html.

Institutional investors have recently modified their holdings of the business. Motco boosted its holdings in Sun Life Financial by 2.2% in the 2nd quarter. Motco now owns 95,000 shares of the financial services provider’s stock valued at $3,396,000 after purchasing an additional 2,082 shares during the period. Delta Lloyd Asset Management N.V. bought a new stake in Sun Life Financial in the 2nd quarter valued at $2,259,000. Tobam boosted its holdings in Sun Life Financial by 30.7% in the 2nd quarter. Tobam now owns 36,600 shares of the financial services provider’s stock valued at $1,307,000 after purchasing an additional 8,600 shares during the period. Arlington Capital Management Inc. bought a new stake in Sun Life Financial in the 2nd quarter valued at $2,625,000. Finally, Vanguard Group Inc. boosted its holdings in Sun Life Financial by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 13,072,396 shares of the financial services provider’s stock valued at $477,796,000 after purchasing an additional 593,878 shares during the period. 40.90% of the stock is owned by hedge funds and other institutional investors.

About

According to Zacks, “Sun Life’s aggressive re-designing of products, improved pricing, and focus on segments with higher growth and return complemented by market factor of reduced interest rate and market risk bode well. A strong balance sheet and effective capital deployment in growth initiatives will fuel earning, ROE and enhance shareholders’ value. The company continues to forge ahead with its digital and wealth initiatives in Canada, strong sales momentum in Asia, the scaling and integration of its U.S. operations, and strong long-term investment performance in asset management businesses. It targets medium-term EPS growth between 8% and 10%. The company also witnessed estimates moving north over the last 60 days. However, exposure to macro headwinds, regulatory uncertainties and low rates are headwinds. Also, shares of Sun Life Financial underperformed industry quarter to date.”

Several other research firms also recently issued reports on SLF. Bank of America Corporation raised shares of Sun Life Financial from an “underperform” rating to a “hold” rating in a report on Monday, July 10th. TD Securities upped their price objective on shares of Sun Life Financial from $50.00 to $51.00 and gave the stock a “hold” rating in a report on Thursday, August 10th. ValuEngine raised shares of Sun Life Financial from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. BidaskClub raised shares of Sun Life Financial from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Finally, Morgan Stanley upped their price objective on shares of Sun Life Financial from $52.00 to $53.00 and gave the stock an “equal weight” rating in a report on Thursday, October 5th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Sun Life Financial presently has an average rating of “Hold” and a consensus price target of $50.00.

Shares of Sun Life Financial (NYSE:SLF) traded up 1.31% during trading on Tuesday, reaching $40.36. 230,717 shares of the company’s stock were exchanged. Sun Life Financial has a 52-week low of $32.03 and a 52-week high of $40.57. The company has a 50 day moving average of $38.93 and a 200 day moving average of $36.48. The firm has a market capitalization of $24.77 billion, a P/E ratio of 11.68 and a beta of 0.88.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.09. The business had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $7.36 billion. Sun Life Financial had a net margin of 12.48% and a return on equity of 13.29%. Sun Life Financial’s quarterly revenue was down 14.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 EPS. Equities analysts anticipate that Sun Life Financial will post $3.25 earnings per share for the current fiscal year.

Sun Life Financial announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 9th that authorizes the company to repurchase 11,500,000 shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

ILLEGAL ACTIVITY NOTICE: “Sun Life Financial Inc. (SLF) Raised to Buy at Zacks Investment Research” was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark and copyright legislation. The legal version of this piece can be viewed at https://ledgergazette.com/2017/10/10/sun-life-financial-inc-slf-raised-to-buy-at-zacks-investment-research.html.

Institutional investors have recently modified their holdings of the business. Motco boosted its holdings in Sun Life Financial by 2.2% in the 2nd quarter. Motco now owns 95,000 shares of the financial services provider’s stock valued at $3,396,000 after purchasing an additional 2,082 shares during the period. Delta Lloyd Asset Management N.V. bought a new stake in Sun Life Financial in the 2nd quarter valued at $2,259,000. Tobam boosted its holdings in Sun Life Financial by 30.7% in the 2nd quarter. Tobam now owns 36,600 shares of the financial services provider’s stock valued at $1,307,000 after purchasing an additional 8,600 shares during the period. Arlington Capital Management Inc. bought a new stake in Sun Life Financial in the 2nd quarter valued at $2,625,000. Finally, Vanguard Group Inc. boosted its holdings in Sun Life Financial by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 13,072,396 shares of the financial services provider’s stock valued at $477,796,000 after purchasing an additional 593,878 shares during the period. 40.90% of the stock is owned by hedge funds and other institutional investors.

About Sun Life Financial

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

Analyst Recommendations for Sun Life Financial (NYSE:SLF)

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