404,285 Shares in Sun Life Financial Inc. $SLF Purchased by Nuveen LLC

Key Points

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Nuveen LLC acquired a new stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 404,285 shares of the financial services provider's stock, valued at approximately $23,135,000. Nuveen LLC owned about 0.07% of Sun Life Financial at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Sun Life Financial by 19.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,220 shares of the financial services provider's stock valued at $585,000 after purchasing an additional 1,645 shares during the last quarter. Bank of Nova Scotia increased its holdings in shares of Sun Life Financial by 4.8% in the first quarter. Bank of Nova Scotia now owns 5,780,001 shares of the financial services provider's stock valued at $330,848,000 after purchasing an additional 266,732 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Sun Life Financial by 4.3% in the first quarter. Cerity Partners LLC now owns 24,889 shares of the financial services provider's stock valued at $1,425,000 after purchasing an additional 1,022 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Sun Life Financial by 5,676.2% in the first quarter. GAMMA Investing LLC now owns 32,982 shares of the financial services provider's stock valued at $1,889,000 after purchasing an additional 32,411 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Sun Life Financial by 39.4% in the first quarter. Janney Montgomery Scott LLC now owns 10,628 shares of the financial services provider's stock valued at $609,000 after purchasing an additional 3,006 shares during the last quarter. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Sun Life Financial Stock Up 0.3%

Shares of Sun Life Financial stock traded up $0.2050 during trading on Friday, reaching $58.9250. The company's stock had a trading volume of 511,885 shares, compared to its average volume of 704,530. Sun Life Financial Inc. has a 52 week low of $52.44 and a 52 week high of $66.81. The business's 50-day moving average price is $61.97 and its 200-day moving average price is $59.81. The firm has a market cap of $33.18 billion, a PE ratio of 14.59, a P/E/G ratio of 1.58 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 for the quarter, hitting the consensus estimate of $1.29. Sun Life Financial had a net margin of 7.59% and a return on equity of 17.21%. The business had revenue of $6.65 billion during the quarter, compared to analysts' expectations of $7.34 billion. During the same quarter in the prior year, the business posted $1.11 earnings per share. Equities analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Wednesday, August 27th will be given a dividend of $0.6394 per share. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.63. This represents a $2.56 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Wednesday, August 27th. Sun Life Financial's dividend payout ratio (DPR) is currently 63.12%.

Analyst Ratings Changes

Several equities analysts have commented on SLF shares. 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. 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. National Bank Financial cut shares of Sun Life Financial from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. Finally, Scotiabank raised shares of Sun Life Financial to a "hold" rating in a research report on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Sun Life Financial has a consensus rating of "Hold" and a consensus price target of $88.00.

Sun Life Financial 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.