Sun Life Financial Inc. (NYSE:SLF) Holdings Lifted by GAMMA Investing LLC

GAMMA Investing LLC raised its holdings in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 5,676.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,982 shares of the financial services provider's stock after acquiring an additional 32,411 shares during the period. GAMMA Investing LLC's holdings in Sun Life Financial were worth $1,889,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Human Investing LLC bought a new stake in Sun Life Financial during the 4th quarter valued at $26,000. Asset Planning Inc bought a new stake in shares of Sun Life Financial in the 4th quarter worth $40,000. BankPlus Trust Department bought a new stake in shares of Sun Life Financial in the 4th quarter worth $40,000. GeoWealth Management LLC raised its stake in shares of Sun Life Financial by 4,657.1% in the 4th quarter. GeoWealth Management LLC now owns 999 shares of the financial services provider's stock worth $59,000 after buying an additional 978 shares in the last quarter. Finally, JFS Wealth Advisors LLC raised its stake in shares of Sun Life Financial by 432.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,032 shares of the financial services provider's stock worth $61,000 after buying an additional 838 shares in the last quarter. Institutional investors own 52.26% of the company's stock.

Analysts Set New Price Targets

SLF has been the topic of a number of research reports. Scotiabank reissued an "outperform" rating on shares of Sun Life Financial in a research note on Thursday, May 1st. Royal Bank of Canada boosted their price objective on Sun Life Financial from $82.00 to $88.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Sun Life Financial in a research note on Monday, May 12th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $88.00.

Sun Life Financial Trading Down 1.2%

Shares of Sun Life Financial stock traded down $0.75 on Friday, reaching $64.23. 499,266 shares of the company were exchanged, compared to its average volume of 635,141. The stock has a fifty day moving average price of $60.87 and a 200-day moving average price of $58.90. The firm has a market capitalization of $36.20 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 1.52 and a beta of 0.92. Sun Life Financial Inc. has a fifty-two week low of $46.41 and a fifty-two week high of $65.56.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its earnings results on Thursday, May 8th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.05. The company had revenue of $7.91 billion for 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 previous year, the firm earned $1.40 earnings per share. On average, equities analysts anticipate 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 announced 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. The ex-dividend date of this dividend is Wednesday, May 28th. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.59. This represents a $2.53 dividend on an annualized basis and a dividend yield of 3.94%. Sun Life Financial's payout ratio is 64.89%.

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.