State of Wyoming bought a new stake in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,247 shares of the financial services provider's stock, valued at approximately $549,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Human Investing LLC bought a new position in shares of Sun Life Financial during the fourth quarter valued at approximately $26,000. Asset Planning Inc bought a new position in shares of Sun Life Financial during the fourth quarter valued at approximately $40,000. BankPlus Trust Department bought a new position in shares of Sun Life Financial during the fourth quarter valued at approximately $40,000. GeoWealth Management LLC increased its stake in shares of Sun Life Financial by 4,657.1% during the fourth quarter. GeoWealth Management LLC now owns 999 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 978 shares in the last quarter. Finally, JFS Wealth Advisors LLC increased its stake in shares of Sun Life Financial by 432.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,032 shares of the financial services provider's stock valued at $61,000 after purchasing an additional 838 shares in the last quarter. Institutional investors own 52.26% of the company's stock.
Sun Life Financial Stock Performance
Shares of NYSE:SLF traded up $0.53 during trading on Friday, reaching $63.64. 5,005,121 shares of the stock traded hands, compared to its average volume of 666,095. Sun Life Financial Inc. has a 52-week low of $46.41 and a 52-week high of $63.93. The stock has a 50-day moving average of $58.48 and a two-hundred day moving average of $58.47. The stock has a market cap of $35.94 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90.
Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its earnings results on Thursday, May 8th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.05. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. The company had revenue of $7.91 billion for the quarter, compared to analysts' expectations of $6.44 billion. During the same quarter last year, the company posted $1.40 earnings per share. Sell-side analysts expect that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.
Sun Life Financial Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Wednesday, May 28th will be issued a $0.6332 dividend. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $2.53 annualized dividend and a yield of 3.98%. This is a boost from Sun Life Financial's previous quarterly dividend of $0.59. Sun Life Financial's dividend payout ratio (DPR) is currently 62.09%.
Analyst Ratings Changes
SLF has been the subject of a number of analyst reports. Scotiabank reaffirmed an "outperform" rating on shares of Sun Life Financial in a research note on Thursday, May 1st. BMO Capital Markets reiterated an "outperform" rating on shares of Sun Life Financial in a report on Monday, May 12th. Cormark upgraded shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a report on Thursday, February 13th. Royal Bank of Canada increased their price target 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. Finally, Wall Street Zen cut shares of Sun Life Financial from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Sun Life Financial currently has an average rating of "Moderate Buy" and a consensus price target of $88.00.
View Our Latest Stock Report on SLF
Sun Life Financial Company Profile
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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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