Charles Schwab Investment Management Inc. Acquires 11,263 Shares of Sun Life Financial Inc. (NYSE:SLF)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 0.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,607,702 shares of the financial services provider's stock after purchasing an additional 11,263 shares during the period. Charles Schwab Investment Management Inc. owned 0.28% of Sun Life Financial worth $92,000,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SLF. NorthCrest Asset Manangement LLC raised its holdings in shares of Sun Life Financial by 1.7% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 10,801 shares of the financial services provider's stock valued at $618,000 after purchasing an additional 180 shares during the period. HighPoint Advisor Group LLC raised its holdings in shares of Sun Life Financial by 4.4% in the 1st quarter. HighPoint Advisor Group LLC now owns 4,330 shares of the financial services provider's stock valued at $256,000 after purchasing an additional 181 shares during the period. Tidal Investments LLC raised its holdings in shares of Sun Life Financial by 4.5% in the 4th quarter. Tidal Investments LLC now owns 5,147 shares of the financial services provider's stock valued at $305,000 after purchasing an additional 222 shares during the period. Hexagon Capital Partners LLC raised its holdings in Sun Life Financial by 53.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 231 shares during the period. Finally, Blue Trust Inc. raised its holdings in Sun Life Financial by 7.6% in the 1st quarter. Blue Trust Inc. now owns 3,437 shares of the financial services provider's stock valued at $197,000 after acquiring an additional 243 shares during the period. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Stock Up 0.1%

SLF traded up $0.07 on Friday, hitting $58.13. The company's stock had a trading volume of 539,449 shares, compared to its average volume of 959,124. The company's 50 day simple moving average is $62.58 and its 200-day simple moving average is $59.78. Sun Life Financial Inc. has a 12 month low of $51.56 and a 12 month high of $66.81. The firm has a market cap of $32.74 billion, a P/E ratio of 14.39, a price-to-earnings-growth ratio of 1.56 and a beta of 0.90.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings data on Thursday, August 7th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.29. The company had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $7.34 billion. Sun Life Financial had a net margin of 7.59% and a return on equity of 17.21%. During the same period in the previous year, the firm posted $1.11 EPS. Equities analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Wednesday, August 27th will be given a $0.6394 dividend. The ex-dividend date is Wednesday, August 27th. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.63. This represents a $2.56 dividend on an annualized basis and a dividend yield of 4.4%. Sun Life Financial's dividend payout ratio is presently 63.12%.

Analyst Ratings Changes

Several brokerages have recently commented on SLF. National Bank Financial cut shares of Sun Life Financial from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. Scotiabank raised shares of Sun Life Financial to a "hold" rating in a research note on Thursday, July 31st. BMO Capital Markets reaffirmed an "outperform" rating on shares of Sun Life Financial in a research report on Monday, May 12th. Royal Bank Of Canada upped their price objective on shares of Sun Life Financial from $82.00 to $88.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Finally, Barclays downgraded shares of Sun Life Financial from an "equal weight" rating to an "underweight" rating in a research report on Monday, July 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Sun Life Financial currently has a consensus rating of "Hold" and an average target price of $88.00.

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.