Balyasny Asset Management L.P. bought a new stake in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,601 shares of the financial services provider's stock, valued at approximately $570,000.
Several other large investors have also recently made changes to their positions in SLF. Human Investing LLC purchased a new stake in Sun Life Financial during the 4th quarter valued at about $26,000. Asset Planning Inc purchased a new position in Sun Life Financial in the fourth quarter worth about $40,000. BankPlus Trust Department bought a new position in shares of Sun Life Financial in the fourth quarter worth approximately $40,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Sun Life Financial during the fourth quarter valued at approximately $45,000. Finally, GeoWealth Management LLC increased its position in shares of Sun Life Financial by 4,657.1% during the fourth quarter. GeoWealth Management LLC now owns 999 shares of the financial services provider's stock valued at $59,000 after acquiring an additional 978 shares in the last quarter. 52.26% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on SLF. StockNews.com cut Sun Life Financial from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Scotiabank reaffirmed an "outperform" rating on shares of Sun Life Financial in a report on Thursday, May 1st. Cormark raised Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research report on Thursday, February 13th. Royal Bank of Canada boosted their target price on Sun Life Financial from $82.00 to $88.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Sun Life Financial in a research note on Monday, May 12th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $88.00.
Check Out Our Latest Report on SLF
Sun Life Financial Stock Performance
Shares of SLF stock traded up $0.30 on Monday, reaching $63.22. The stock had a trading volume of 158,361 shares, compared to its average volume of 668,474. Sun Life Financial Inc. has a 1 year low of $46.41 and a 1 year high of $63.39. The stock has a market cap of $35.70 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. The company has a 50 day simple moving average of $57.70 and a 200 day simple moving average of $58.26.
Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.27 EPS for the quarter, beating the consensus estimate of $1.22 by $0.05. The firm had revenue of $7.91 billion during the quarter, compared to analyst estimates of $6.44 billion. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. During the same quarter in the prior year, the firm earned $1.40 EPS. On average, equities research analysts anticipate that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.
Sun Life Financial Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Wednesday, May 28th will be given a $0.6332 dividend. The ex-dividend date is Wednesday, May 28th. This is an increase from Sun Life Financial's previous quarterly dividend of $0.59. This represents a $2.53 annualized dividend and a yield of 4.01%. Sun Life Financial's dividend payout ratio (DPR) is presently 62.09%.
Sun Life Financial Company Profile
(
Free Report)
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.
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