Polar Asset Management Partners Inc. purchased a new position in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 27,772 shares of the financial services provider's stock, valued at approximately $1,648,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of SLF. Human Investing LLC purchased a new position in shares of Sun Life Financial in the fourth quarter worth about $26,000. Asset Planning Inc purchased a new position in Sun Life Financial during the fourth quarter worth about $40,000. BankPlus Trust Department purchased a new position in Sun Life Financial during the fourth quarter worth about $40,000. GeoWealth Management LLC raised its stake in 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 worth $59,000 after purchasing an additional 978 shares during the period. Finally, JFS Wealth Advisors LLC raised its stake in Sun Life Financial by 432.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,032 shares of the financial services provider's stock worth $61,000 after purchasing an additional 838 shares during the period. 52.26% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
SLF has been the topic of a number of analyst reports. Wall Street Zen downgraded shares of Sun Life Financial from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. BMO Capital Markets reiterated an "outperform" rating on shares of Sun Life Financial in a research report on Monday, May 12th. Scotiabank reiterated an "outperform" rating on shares of Sun Life Financial in a research report on Thursday, May 1st. Royal Bank of Canada lifted their price target on shares of Sun Life Financial from $82.00 to $88.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. Finally, Cormark upgraded shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $88.00.
Get Our Latest Stock Report on SLF
Sun Life Financial Price Performance
Shares of SLF stock traded up $0.48 during trading on Friday, reaching $64.59. The company's stock had a trading volume of 1,476,278 shares, compared to its average volume of 648,738. The company has a market capitalization of $36.48 billion, a price-to-earnings ratio of 16.82, a P/E/G ratio of 1.52 and a beta of 0.90. The stock's 50-day moving average price is $59.20 and its 200 day moving average price is $58.62. Sun Life Financial Inc. has a 1-year low of $46.41 and a 1-year high of $65.11.
Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.27 earnings per share for the quarter, beating analysts' consensus estimates of $1.22 by $0.05. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. The firm had revenue of $7.91 billion during the quarter, compared to analysts' expectations of $6.44 billion. During the same quarter in the previous year, the business posted $1.40 earnings per share. On average, sell-side analysts anticipate that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.
Sun Life Financial Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Wednesday, May 28th will be given a dividend of $0.6332 per share. This is a boost from Sun Life Financial's previous quarterly dividend of $0.59. This represents a $2.53 annualized dividend and a dividend yield of 3.92%. The ex-dividend date is Wednesday, May 28th. Sun Life Financial's dividend payout ratio is currently 62.09%.
Sun Life Financial 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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