WCG Wealth Advisors LLC Purchases Shares of 18,781 Sun Life Financial Inc. $SLF

Key Points

• WCG Wealth Advisors LLC disclosed a new stake in Sun Life Financial, buying 18,781 shares in the fourth quarter worth about $1.17 million.
• Sun Life Financial reported quarterly EPS of $1.38, beating analyst estimates, and analysts now expect 5.72 EPS for the current year.
• The company raised its quarterly dividend to $0.96 per share, which equals an annualized yield of about 5.2%; Wall Street currently has a Moderate Buy consensus on the stock.

WCG Wealth Advisors LLC acquired a new stake in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 18,781 shares of the financial services provider's stock, valued at approximately $1,172,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Cornerstone Planning Group LLC lifted its holdings in Sun Life Financial by 68.4% in the fourth quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider's stock worth $26,000 after purchasing an additional 167 shares during the period. HB Wealth Management LLC boosted its holdings in shares of Sun Life Financial by 5.1% in the fourth quarter. HB Wealth Management LLC now owns 3,971 shares of the financial services provider's stock valued at $248,000 after acquiring an additional 194 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Sun Life Financial by 1.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,916 shares of the financial services provider's stock valued at $824,000 after acquiring an additional 222 shares in the last quarter. Westside Investment Management Inc. lifted its holdings in Sun Life Financial by 38.6% in the 3rd quarter. Westside Investment Management Inc. now owns 801 shares of the financial services provider's stock valued at $48,000 after acquiring an additional 223 shares during the last quarter. Finally, OneDigital Investment Advisors LLC lifted its holdings in Sun Life Financial by 7.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,357 shares of the financial services provider's stock valued at $202,000 after acquiring an additional 246 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 opened at $73.76 on Friday. The stock has a fifty day moving average price of $69.43 and a 200 day moving average price of $65.04. Sun Life Financial Inc. has a one year low of $56.22 and a one year high of $74.16. The stock has a market cap of $40.87 billion, a P/E ratio of 19.01 and a beta of 0.89.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.03. Sun Life Financial had a return on equity of 17.80% and a net margin of 7.85%.The firm had revenue of $6.41 billion during the quarter, compared to analyst estimates of $925.99 million. During the same period in the prior year, the company posted $1.82 earnings per share. Equities research analysts anticipate that Sun Life Financial Inc. will post 5.72 EPS for the current year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, May 27th will be paid a dividend of $0.96 per share. This is an increase from Sun Life Financial's previous quarterly dividend of $0.92. This represents a $3.84 annualized dividend and a yield of 5.2%. The ex-dividend date is Wednesday, May 27th. Sun Life Financial's dividend payout ratio is currently 72.94%.

Wall Street Analyst Weigh In

SLF has been the subject of a number of analyst reports. National Bank Financial raised shares of Sun Life Financial from a "sector perform" rating to an "outperform" rating in a research note on Friday, April 24th. TD Cowen reiterated a "buy" rating on shares of Sun Life Financial in a report on Thursday, May 7th. TD Securities restated a "buy" rating on shares of Sun Life Financial in a report on Thursday, May 7th. Wall Street Zen downgraded Sun Life Financial from a "hold" rating to a "sell" rating in a report on Saturday, May 23rd. Finally, Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of Sun Life Financial in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Sun Life Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $86.50.

Sun Life Financial Company Profile

Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.

Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.

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