Reassessing The Changing Outlook For Sun Life Financial Inc. (NYSE: SLF)

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    RBC Global Asset Management, Inc. recently announced the acquisition of new stake in Sun Life Financial Inc. (NYSE:SLF). The institutional investor has increased its shareholding in the Financial company by 3.80% to 32.41 million shares with purchase of 1.19 million shares. This fresh investment now brings its stake to 5.54% valued currently at $1.11 billion. In addition, The Vanguard Group, Inc. raised its holdings by 0.31 million to 16.98 million shares. And 1832 Asset Management LP has lifted its position by 3.10% or 0.5 million shares – to 16.78 million shares.

    With over 0.51 million Sun Life Financial Inc. (SLF) shares trading Thursday and a closing price of $36.24 on the day, the dollar volume was approximately $18.54 million. The shares have shown a positive weekly performance of 0.14% and its price on 07/02/20 gained nearly 0.61%. Currently, there are 587.00M common shares owned by the public and among those 584.32M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 17 analysts who have offered their price forecasts for SLF have a consensus price objective of $38.97. The analysts have set the share’s price value over the next 12 months at a high of $44.78 and a low of $32.55 should the stock experience a downside. Incidentally, analysts’ outlook for the Sun Life Financial Inc. stock is 1.50 for the next 12 months. The average price target is 20.61% above its last price level and an upside to the estimated low will see the stock lose -11.34% over that period. But an upside of 19.07% will see the stock hit the forecast high price target while mean target price for the stock is $39.63.

    Insiders at the company have nil transactions over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC).

    The top 3 mutual fund holders in Sun Life Financial Inc. are Vanguard Total International Stoc, Government Pension Fund – Global, and RBC Canadian Dividend Fund. Vanguard Total International Stoc owns 10.39 million shares of the company’s stock, all valued at over $357.34 million. The company has a total holdings of about 1.78% of the shares outstanding. Government Pension Fund – Global bought 3.54 million shares to see its total holdings expand to 8.06 million shares valued at over $277.35 million and representing 1.38% of the shares outstanding. RBC Canadian Dividend Fund has total holdings to over 6.09 million shares at a value of $209.37 million. RBC Canadian Dividend Fund now owns shares totaling to 1.04% of the shares outstanding.

    Shares of Sun Life Financial Inc. (NYSE: SLF) opened at $36.58, up $0.56 from a prior closing price of $36.02. However, the script later closed the day at $36.24, up 0.61%. The company’s stock has a 5-day price change of 0.14% and 17.43% over the past three months. SLF shares are trading -20.47% year to date (YTD), with the 12-month market performance down to -13.71% lower. It has a 12-month low price of $24.37 and touched a high of $50.13 over the same period. Currently, 0.51 million shares have been traded, compared to an average intraday trading volume of 730.91K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.07%, 3.49%, and -11.41% respectively.

    Institutional ownership of Sun Life Financial Inc. (NYSE: SLF) shares accounts for 54.40% of the company’s 587.00M shares outstanding. Mutual fund holders own 19.16%, while other institutional holders and individual stakeholders account for 29.16% and — respectively.

    It has a market capitalization of $21.36B and a beta (3y monthly) value of 1.02. The stock’s trailing 12-month PE ratio is 12.21, while the earnings-per-share (ttm) stands at $2.97. The company has a PEG of 1.69 and a debt-to-equity ratio of0.18. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.71% over the week and 2.58% over the month.

    Analysts forecast that Sun Life Financial Inc. (SLF) will achieve an EPS of $0.89 for the current quarter, $0.92 for the next quarter and $3.95 for 2019. The lowest estimate earnings-per-share for the quarter is $0.85 while analysts give the company a high EPS estimate of $0.92. Comparatively, EPS for the current quarter was $0.73 a year ago. Earnings per share for the fiscal year are expected to increase by 6.30%, and 9.81% over the next financial year. EPS should shrink at an annualized rate of 7.22% over the next five years, compared to 9.00% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 17 brokerage firm advisors rate Sun Life Financial Inc. (SLF) as a “Strong Buy” at a consensus score of 1.50. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 8 of the 17 advise that investors “hold,” and 2 rated it as a “Sell.”

    Looking at the support for the SLF, a number of firms have released research notes about the stock. RBC Capital Mkts stated their Outperform rating for the stock in a research note on May 07, 2020. Scotiabank coverage for the Sun Life Financial Inc. (SLF) stock in a research note released on April 27, 2020 offered a Sector Outperform rating with a price target of . CIBC was of a view on February 14, 2020 that the stock is Neutral, while Credit Suisse gave the stock Outperform rating on February 07, 2020 . RBC Capital Mkts on their part issued Sector Perform rating on December 02, 2019.

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