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Vanguard Group Inc. Boosts Stock Holdings in Sun Life Financial Inc. (NYSE:SLF)

Sun Life Financial logo with Finance background

Vanguard Group Inc. boosted its stake in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 1.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,882,882 shares of the financial services provider's stock after purchasing an additional 410,759 shares during the quarter. Vanguard Group Inc. owned approximately 3.91% of Sun Life Financial worth $1,186,706,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Janney Montgomery Scott LLC raised its stake in shares of Sun Life Financial by 11.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 14,436 shares of the financial services provider's stock worth $704,000 after buying an additional 1,531 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Sun Life Financial by 4.6% during the third quarter. PNC Financial Services Group Inc. now owns 16,735 shares of the financial services provider's stock worth $817,000 after purchasing an additional 735 shares in the last quarter. Kestra Advisory Services LLC lifted its stake in shares of Sun Life Financial by 11.4% in the third quarter. Kestra Advisory Services LLC now owns 13,119 shares of the financial services provider's stock worth $640,000 after acquiring an additional 1,346 shares in the last quarter. Invesco Ltd. raised its stake in Sun Life Financial by 10.1% during the third quarter. Invesco Ltd. now owns 1,659,078 shares of the financial services provider's stock valued at $80,963,000 after buying an additional 152,568 shares in the last quarter. Finally, CenterBook Partners LP bought a new position in shares of Sun Life Financial during the third quarter valued at approximately $281,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Stock Performance

Shares of NYSE SLF traded up $0.28 during mid-day trading on Friday, reaching $48.48. The company had a trading volume of 496,479 shares, compared to its average volume of 756,079. Sun Life Financial Inc. has a twelve month low of $44.57 and a twelve month high of $55.46. The stock has a market capitalization of $28.17 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 1.24 and a beta of 1.00. The stock's 50 day moving average is $50.46 and its 200-day moving average is $51.84.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings results on Thursday, May 9th. The financial services provider reported $1.11 earnings per share for the quarter, missing analysts' consensus estimates of $1.20 by ($0.09). Sun Life Financial had a return on equity of 16.97% and a net margin of 8.94%. The company had revenue of $5.10 billion during the quarter, compared to analyst estimates of $7.25 billion. On average, sell-side analysts anticipate that Sun Life Financial Inc. will post 4.88 EPS for the current year.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Wednesday, May 29th will be given a dividend of $0.588 per share. This represents a $2.35 annualized dividend and a yield of 4.85%. This is an increase from Sun Life Financial's previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Wednesday, May 29th. Sun Life Financial's dividend payout ratio is presently 60.10%.

Wall Street Analysts Forecast Growth

SLF has been the subject of a number of research analyst reports. Argus upgraded Sun Life Financial to a "strong-buy" rating in a research report on Monday, June 3rd. Jefferies Financial Group initiated coverage on Sun Life Financial in a research report on Thursday, February 22nd. They issued a "buy" rating for the company.

Check Out Our Latest Stock Analysis on SLF

Sun Life Financial Company Profile

(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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Institutional Ownership by Quarter for Sun Life Financial (NYSE:SLF)

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