Sun Life Financial Inc. (NYSE:SLF) Shares Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co decreased its holdings in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 61.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,365 shares of the financial services provider's stock after selling 7,104 shares during the period. WASHINGTON TRUST Co's holdings in Sun Life Financial were worth $250,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC acquired a new position in shares of Sun Life Financial in the 4th quarter valued at $244,000. Principal Financial Group Inc. increased its position in shares of Sun Life Financial by 34.0% during the fourth quarter. Principal Financial Group Inc. now owns 23,633 shares of the financial services provider's stock worth $1,403,000 after acquiring an additional 6,000 shares during the period. Truist Financial Corp raised its position in Sun Life Financial by 8.7% in the 4th quarter. Truist Financial Corp now owns 7,838 shares of the financial services provider's stock valued at $465,000 after purchasing an additional 629 shares in the last quarter. Private Advisor Group LLC lifted its stake in Sun Life Financial by 2.1% in the fourth quarter. Private Advisor Group LLC now owns 8,643 shares of the financial services provider's stock worth $513,000 after acquiring an additional 181 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Sun Life Financial by 6.5% during the 4th quarter. Bank of New York Mellon Corp now owns 559,262 shares of the financial services provider's stock worth $33,187,000 after purchasing an additional 33,931 shares during the last quarter. Institutional investors and hedge funds own 52.26% of the company's stock.

Sun Life Financial Price Performance

Shares of SLF stock traded up $0.32 during midday trading on Friday, reaching $64.94. 327,548 shares of the company traded hands, compared to its average volume of 622,490. 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 cap of $36.60 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 1.77 and a beta of 0.91. The firm's 50 day simple moving average is $63.33 and its two-hundred day simple moving average is $59.27.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its quarterly earnings results 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 net margin of 7.47% and a return on equity of 17.33%. The business had revenue of $7.91 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same period in the prior year, the business earned $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 fiscal year.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Wednesday, May 28th were given a $0.6332 dividend. This represents a $2.53 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date was Wednesday, May 28th. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.59. Sun Life Financial's payout ratio is currently 64.89%.

Wall Street Analyst Weigh In

SLF has been the subject of a number of research analyst reports. Scotiabank reaffirmed an "outperform" rating on shares of Sun Life Financial in a report on Thursday, May 1st. BMO Capital Markets restated an "outperform" rating on shares of Sun Life Financial in a research report on Monday, May 12th. Finally, Royal Bank Of Canada raised their target price on shares of Sun Life Financial from $82.00 to $88.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Sun Life Financial presently has a consensus rating of "Moderate Buy" and an average price target of $88.00.

Sun Life Financial Company 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.