Wellington Management Group LLP increased its holdings in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 2,071.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,350,751 shares of the financial services provider's stock after acquiring an additional 1,288,545 shares during the quarter. Wellington Management Group LLP owned approximately 0.22% of Sun Life Financial worth $80,160,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in Sun Life Financial in the fourth quarter worth about $127,000. Janney Montgomery Scott LLC raised its holdings in Sun Life Financial by 13.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,622 shares of the financial services provider's stock worth $452,000 after purchasing an additional 893 shares in the last quarter. Brighton Jones LLC bought a new position in Sun Life Financial in the fourth quarter worth about $244,000. Blue Trust Inc. raised its holdings in Sun Life Financial by 11.2% in the fourth quarter. Blue Trust Inc. now owns 8,516 shares of the financial services provider's stock worth $494,000 after purchasing an additional 855 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in Sun Life Financial in the fourth quarter worth about $95,000. 52.26% of the stock is owned by hedge funds and other institutional investors.
Sun Life Financial Stock Up 0.8%
Shares of SLF traded up $0.51 during mid-day trading on Monday, hitting $65.16. 621,694 shares of the company traded hands, compared to its average volume of 649,844. Sun Life Financial Inc. has a 1-year low of $46.41 and a 1-year high of $65.28. The company has a market capitalization of $36.80 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. The business has a 50 day moving average of $59.36 and a 200 day moving average of $58.64.
Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.27 earnings per share 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 the consensus estimate of $6.44 billion. During the same quarter in the prior year, the company earned $1.40 EPS. As a group, research analysts expect that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.
Sun Life Financial Increases Dividend
The firm also recently declared 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. This represents a $2.53 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Wednesday, May 28th. This is an increase from Sun Life Financial's previous quarterly dividend of $0.59. Sun Life Financial's dividend payout ratio is 62.09%.
Wall Street Analyst Weigh In
A number of brokerages have commented on SLF. Wall Street Zen downgraded shares of Sun Life Financial from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. 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 upped their price objective 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. Scotiabank restated an "outperform" rating on shares of Sun Life Financial in a report on Thursday, May 1st. Finally, BMO Capital Markets restated an "outperform" rating on shares of Sun Life Financial in a report on Monday, May 12th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $88.00.
Check Out Our Latest Stock Analysis 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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