Dimensional Fund Advisors LP increased its position in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 3.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,701,928 shares of the financial services provider's stock after acquiring an additional 63,325 shares during the quarter. Dimensional Fund Advisors LP owned about 0.31% of Sun Life Financial worth $106,461,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Cornerstone Planning Group LLC grew its holdings in Sun Life Financial by 68.4% in the 4th quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider's stock valued at $26,000 after buying an additional 167 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in Sun Life Financial during the fourth quarter worth $30,000. Sittner & Nelson LLC acquired a new position in Sun Life Financial during the 4th quarter valued at $33,000. Scarborough Advisors LLC acquired a new stake in Sun Life Financial in the 1st quarter worth $33,000. Finally, Manchester Capital Management LLC bought a new position in shares of Sun Life Financial during the 4th quarter worth about $49,000. Institutional investors and hedge funds own 52.26% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on SLF shares. Scotiabank reissued a "sector perform" rating on shares of Sun Life Financial in a research report on Wednesday, July 15th. Evercore cut Sun Life Financial from an "outperform" rating to an "in-line" rating in a research report on Monday, July 13th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Sun Life Financial in a research report on Friday, May 8th. Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of Sun Life Financial in a report on Friday, May 8th. Finally, TD Securities reaffirmed a "buy" rating on shares of Sun Life Financial in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $84.67.
Read Our Latest Analysis on SLF
Sun Life Financial Stock Performance
Shares of SLF stock opened at $84.09 on Wednesday. The stock has a market capitalization of $46.87 billion, a PE ratio of 21.67 and a beta of 0.88. Sun Life Financial Inc. has a 52 week low of $56.22 and a 52 week high of $84.38. The stock's fifty day moving average is $77.34 and its 200-day moving average is $69.89.
Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its earnings results on Wednesday, May 6th. The financial services provider reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.03. Sun Life Financial had a net margin of 7.85% and a return on equity of 17.80%. The company had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $925.99 million. During the same period in the previous year, the firm posted $1.82 earnings per share. As a group, analysts forecast that Sun Life Financial Inc. will post 5.69 earnings per share for the current fiscal year.
Sun Life Financial Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Wednesday, May 27th were given a dividend of $0.96 per share. The ex-dividend date was Wednesday, May 27th. This is an increase from Sun Life Financial's previous quarterly dividend of $0.92. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.6%. Sun Life Financial's dividend payout ratio is presently 72.94%.
About Sun Life Financial
(
Free Report)
Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.
Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.
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