WASHINGTON TRUST Co Sells 7,104 Shares of Sun Life Financial Inc. (NYSE:SLF)

WASHINGTON TRUST Co lowered its stake in shares of 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 Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. GeoWealth Management LLC grew its stake in Sun Life Financial by 4,657.1% during the 4th 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 during the last quarter. CX Institutional purchased a new stake in shares of Sun Life Financial during the first quarter worth about $109,000. Blue Trust Inc. raised its holdings in shares of Sun Life Financial by 7.6% during the first quarter. Blue Trust Inc. now owns 3,437 shares of the financial services provider's stock valued at $197,000 after acquiring an additional 243 shares during the last quarter. Merit Financial Group LLC purchased a new position in Sun Life Financial in the 1st quarter valued at $200,000. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in Sun Life Financial during the 4th quarter worth $202,000. 52.26% of the stock is owned by hedge funds and other institutional investors.

Sun Life Financial Stock Performance

SLF opened at $66.40 on Tuesday. The stock has a market capitalization of $37.42 billion, a PE ratio of 16.90, a P/E/G ratio of 1.79 and a beta of 0.92. Sun Life Financial Inc. has a one year low of $46.41 and a one year high of $67.16. The business's 50 day moving average price is $62.88 and its 200 day moving average price is $59.15.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its earnings results on Thursday, May 8th. The financial services provider reported $1.27 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.05. The company had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $6.44 billion. Sun Life Financial had a return on equity of 17.33% and a net margin of 7.47%. During the same quarter in the previous year, the business earned $1.40 earnings per share. As a group, equities research analysts forecast 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 declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Wednesday, May 28th were given a dividend of $0.6332 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This is a boost 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 3.81%. Sun Life Financial's dividend payout ratio (DPR) is currently 64.89%.

Analyst Ratings Changes

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

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