Sun Life Financial (NYSE:SLF) Upgraded by National Bank Financial to “Outperform” Rating

National Bank Financial upgraded shares of Sun Life Financial (NYSE:SLF) (TSE:SLF) from a sector perform rating to an outperform rating in a research report report published on Wednesday morning, MarketBeat Ratings reports. National Bank Financial also issued estimates for Sun Life Financial’s Q4 2024 earnings at $1.26 EPS, FY2024 earnings at $4.67 EPS, FY2025 earnings at $5.23 EPS and FY2026 earnings at $5.77 EPS.

Separately, StockNews.com lowered Sun Life Financial from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Sun Life Financial Price Performance

SLF stock opened at $58.83 on Wednesday. The firm has a market capitalization of $33.85 billion, a P/E ratio of 13.10, a P/E/G ratio of 1.53 and a beta of 1.03. Sun Life Financial has a 52-week low of $46.41 and a 52-week high of $62.85. The company’s 50 day simple moving average is $59.96 and its 200-day simple moving average is $55.89.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th were issued a $0.621 dividend. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date was 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 currently 57.46%.

Institutional Trading of Sun Life Financial

Hedge funds have recently made changes to their positions in the stock. Assetmark Inc. increased its stake in Sun Life Financial by 2,747.4% in the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock valued at $31,000 after buying an additional 522 shares during the period. Addison Advisors LLC grew its holdings in shares of Sun Life Financial by 124.9% during the 3rd quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 361 shares in the last quarter. Clean Yield Group purchased a new position in shares of Sun Life Financial during the 3rd quarter valued at $39,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Sun Life Financial in the fourth quarter worth $45,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Sun Life Financial during the third quarter worth $51,000. 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.