Sun Life Financial Inc. (NYSE:SLF) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 5.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 591,310 shares of the financial services provider's stock after buying an additional 32,048 shares during the quarter. Bank of New York Mellon Corp owned about 0.10% of Sun Life Financial worth $33,858,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Sun Life Financial by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 24,233,496 shares of the financial services provider's stock valued at $1,438,888,000 after buying an additional 197,887 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Sun Life Financial by 2.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 9,454,589 shares of the financial services provider's stock worth $562,121,000 after purchasing an additional 198,205 shares during the period. Norges Bank purchased a new position in shares of Sun Life Financial in the 4th quarter worth $382,176,000. Geode Capital Management LLC raised its position in shares of Sun Life Financial by 30.6% in the 4th quarter. Geode Capital Management LLC now owns 3,467,275 shares of the financial services provider's stock worth $210,080,000 after buying an additional 812,689 shares during the period. Finally, Scotia Capital Inc. raised its position in shares of Sun Life Financial by 3.3% in the 4th quarter. Scotia Capital Inc. now owns 2,974,065 shares of the financial services provider's stock worth $176,273,000 after buying an additional 93,992 shares during the period. Institutional investors and hedge funds own 52.26% of the company's stock.

Sun Life Financial Trading Down 0.0%

NYSE:SLF traded down $0.01 during mid-day trading on Friday, hitting $62.26. The company had a trading volume of 57,307 shares, compared to its average volume of 626,890. The business has a fifty day simple moving average of $63.92 and a 200-day simple moving average of $59.50. Sun Life Financial Inc. has a 1 year low of $46.41 and a 1 year high of $66.81. The firm has a market capitalization of $35.09 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 1.68 and a beta of 0.91.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.27 EPS for the quarter, beating the consensus estimate of $1.22 by $0.05. Sun Life Financial had a return on equity of 17.33% and a net margin of 7.47%. The company had revenue of $7.91 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same period last year, the company posted $1.40 earnings per share. As a group, research analysts anticipate that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Wednesday, May 28th were paid a dividend of $0.6332 per share. The ex-dividend date was Wednesday, May 28th. This is an increase from Sun Life Financial's previous quarterly dividend of $0.59. This represents a $2.53 annualized dividend and a dividend yield of 4.07%. Sun Life Financial's dividend payout ratio (DPR) is currently 64.89%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SLF. Royal Bank Of Canada increased their target price on Sun Life Financial from $82.00 to $88.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Scotiabank reaffirmed an "outperform" rating on shares of Sun Life Financial in a research report on Thursday, May 1st. Barclays lowered Sun Life Financial from an "equal weight" rating to an "underweight" rating in a research report on Monday, July 7th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Sun Life Financial in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Sun Life Financial has a consensus rating of "Moderate Buy" 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.