Focus Partners Wealth acquired a new position in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,092 shares of the financial services provider's stock, valued at approximately $302,000.
Other hedge funds also recently added to or reduced their stakes in the company. Human Investing LLC purchased a new position in Sun Life Financial in the 4th quarter worth approximately $26,000. Asset Planning Inc purchased a new position in Sun Life Financial in the 4th quarter worth approximately $40,000. BankPlus Trust Department purchased a new stake in Sun Life Financial during the 4th quarter valued at $40,000. GeoWealth Management LLC raised its stake in Sun Life Financial by 4,657.1% during the 4th quarter. GeoWealth Management LLC now owns 999 shares of the financial services provider's stock valued at $59,000 after buying an additional 978 shares during the last quarter. Finally, JFS Wealth Advisors LLC raised its stake in Sun Life Financial by 432.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 1,032 shares of the financial services provider's stock valued at $61,000 after buying an additional 838 shares during the last quarter. 52.26% of the stock is currently owned by hedge funds and other institutional investors.
Sun Life Financial Price Performance
Shares of NYSE:SLF traded up $0.60 during midday trading on Tuesday, hitting $64.23. The company had a trading volume of 552,532 shares, compared to its average volume of 665,640. The company has a market cap of $36.27 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 1.52 and a beta of 0.90. Sun Life Financial Inc. has a 12-month low of $46.41 and a 12-month high of $64.63. The company has a fifty day moving average of $58.77 and a two-hundred day moving average of $58.53.
Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.27 EPS for the quarter, topping 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 return on equity of 16.86% and a net margin of 8.08%. During the same period in the prior year, the business posted $1.40 EPS. Research analysts expect that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.
Sun Life Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Wednesday, May 28th will be paid a $0.6332 dividend. This represents a $2.53 annualized dividend and a dividend yield of 3.94%. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, May 28th. Sun Life Financial's dividend payout ratio is 62.09%.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on SLF. Wall Street Zen lowered 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 note on Monday, May 12th. Royal Bank of Canada boosted their target price on shares of Sun Life Financial from $82.00 to $88.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Scotiabank reiterated an "outperform" rating on shares of Sun Life Financial in a research note on Thursday, May 1st. Finally, Cormark upgraded shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Sun Life Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.00.
View Our Latest Research Report on SLF
About Sun Life Financial
(
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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