Charles Schwab Investment Management Inc. Has $92 Million Stake in Sun Life Financial Inc. (NYSE:SLF)

Charles Schwab Investment Management Inc. raised its holdings in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 0.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,607,702 shares of the financial services provider's stock after acquiring an additional 11,263 shares during the period. Charles Schwab Investment Management Inc. owned 0.28% of Sun Life Financial worth $92,000,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SLF. NorthCrest Asset Manangement LLC increased its holdings in shares of Sun Life Financial by 1.7% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 10,801 shares of the financial services provider's stock worth $618,000 after buying an additional 180 shares during the last quarter. HighPoint Advisor Group LLC increased its holdings in 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 in the last quarter. Tidal Investments LLC increased its holdings in 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 in the last quarter. Hexagon Capital Partners LLC increased 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 purchasing an additional 231 shares in the last quarter. Finally, Blue Trust Inc. increased 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 purchasing an additional 243 shares in the last quarter. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Barclays cut shares of Sun Life Financial from an "equal weight" rating to an "underweight" rating in a research report on Monday, July 7th. BMO Capital Markets reissued an "outperform" rating on shares of Sun Life Financial in a research report on Monday, May 12th. Scotiabank raised shares of Sun Life Financial to a "hold" rating in a research report on Thursday, July 31st. Royal Bank Of Canada raised their target price on shares of Sun Life Financial from $82.00 to $88.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Finally, National Bank Financial lowered shares of Sun Life Financial from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $88.00.

Sun Life Financial Price Performance

Sun Life Financial stock traded up $0.07 during midday trading on Friday, reaching $58.13. The stock had a trading volume of 539,449 shares, compared to its average volume of 959,124. The firm's fifty day simple moving average is $62.58 and its two-hundred day simple moving average is $59.77. Sun Life Financial Inc. has a twelve month low of $51.56 and a twelve month high of $66.81. The firm has a market cap of $32.74 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 1.55 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 EPS for the quarter, hitting analysts' consensus estimates of $1.29. Sun Life Financial had a net margin of 7.59% and a return on equity of 17.21%. The firm had revenue of $6.65 billion during the quarter, compared to analyst estimates of $7.34 billion. During the same quarter last year, the business posted $1.11 EPS. As a group, sell-side analysts predict that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Wednesday, August 27th will be paid a dividend of $0.6394 per share. This is an increase from Sun Life Financial's previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 4.4%. Sun Life Financial's dividend payout ratio (DPR) is 62.87%.

About Sun Life Financial

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.