Sun Life Financial (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 Friday. The firm presently has a $46.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 13.13% from the stock’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. It 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%. However, increasing expenses remain a headwind. It expects to incur restructuring charge of $35-$40 million in the fourth quarter of 2017. Shares of Sun Life underperformed the industry, in a year’s time. A Zacks Rank #2 combined with Earnings ESP of 0.71% makes us reasonably confident of earnings beat on Feb 14.”

Other analysts have also recently issued research reports about the company. BMO Capital Markets restated a “hold” rating and set a $52.00 price objective on shares of Sun Life Financial in a research note on Friday, November 24th. Scotiabank upgraded Sun Life Financial from a “sector perform” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Wednesday, January 31st. Finally, TD Securities upgraded Sun Life Financial from a “hold” rating to a “buy” rating in a research note on Monday, January 15th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $52.67.

Sun Life Financial (SLF) opened at $40.66 on Friday. The company has a market capitalization of $24,910.00, a PE ratio of 11.82, a P/E/G ratio of 1.61 and a beta of 0.89. Sun Life Financial has a 1-year low of $32.22 and a 1-year high of $44.50. The company has a quick ratio of 4.42, a current ratio of 4.42 and a debt-to-equity ratio of 0.21.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings data on Wednesday, November 8th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.05. Sun Life Financial had a return on equity of 13.17% and a net margin of 11.94%. The firm had revenue of $4.43 billion for the quarter. equities analysts forecast that Sun Life Financial will post 3.22 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. TD Asset Management Inc. raised its stake in Sun Life Financial by 3.1% during the third quarter. TD Asset Management Inc. now owns 21,214,040 shares of the financial services provider’s stock valued at $842,862,000 after buying an additional 645,962 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Sun Life Financial by 2.5% during the 3rd quarter. CIBC Asset Management Inc now owns 7,964,804 shares of the financial services provider’s stock worth $316,349,000 after purchasing an additional 197,208 shares during the period. Great West Life Assurance Co. Can raised its position in shares of Sun Life Financial by 8.2% during the 3rd quarter. Great West Life Assurance Co. Can now owns 7,271,476 shares of the financial services provider’s stock worth $289,015,000 after purchasing an additional 548,831 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Sun Life Financial by 25.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 5,395,665 shares of the financial services provider’s stock worth $222,625,000 after purchasing an additional 1,106,844 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Sun Life Financial by 1.3% during the 3rd quarter. Legal & General Group Plc now owns 2,816,811 shares of the financial services provider’s stock worth $111,918,000 after purchasing an additional 36,541 shares during the period. Hedge funds and other institutional investors own 40.98% of the company’s stock.

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Sun Life Financial Company Profile

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.

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