Sun Life Financial (NYSE:SLF) Sees Large Volume Increase – Time to Buy?

Shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) saw an uptick in trading volume on Monday . 5,367,781 shares changed hands during mid-day trading, an increase of 731% from the previous session’s volume of 645,615 shares.The stock last traded at $55.35 and had previously closed at $54.61.

Analyst Ratings Changes

A number of research firms recently commented on SLF. Cormark upgraded Sun Life Financial from a “hold” rating to a “moderate buy” rating in a research note on Thursday, February 13th. National Bank Financial upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 15th. Finally, StockNews.com downgraded shares of Sun Life Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Sun Life Financial has an average rating of “Moderate Buy”.

Sun Life Financial Price Performance

The stock’s fifty day simple moving average is $58.22 and its 200-day simple moving average is $57.50. The stock has a market cap of $31.59 billion, a P/E ratio of 14.36, a PEG ratio of 1.52 and a beta of 1.03.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.30. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. Analysts forecast that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Wednesday, February 26th will be paid a $0.5876 dividend. This represents a $2.35 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend is Wednesday, February 26th. Sun Life Financial’s payout ratio is 60.16%.

Institutional Investors Weigh In On Sun Life Financial

Several large investors have recently made changes to their positions in the company. Creative Planning increased its position in Sun Life Financial by 1.2% in the 3rd quarter. Creative Planning now owns 48,558 shares of the financial services provider’s stock valued at $2,817,000 after acquiring an additional 590 shares during the period. International Assets Investment Management LLC acquired a new stake in Sun Life Financial in the third quarter worth about $963,000. Assenagon Asset Management S.A. increased its stake in Sun Life Financial by 0.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 62,589 shares of the financial services provider’s stock valued at $3,635,000 after buying an additional 200 shares during the period. Pathway Financial Advisers LLC lifted its stake in shares of Sun Life Financial by 2.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 25,952 shares of the financial services provider’s stock worth $1,506,000 after acquiring an additional 615 shares during the period. Finally, Arkadios Wealth Advisors acquired a new position in shares of Sun Life Financial during the third quarter valued at approximately $205,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

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.