Sun Life Financial Inc. (NYSE:SLF) Increases Dividend to $0.64 Per Share

Key Points

• Sun Life Financial Inc. has increased its quarterly dividend to $0.64 per share, representing a 1.0% rise from the previous dividend of $0.63, with a yield of 4.5%.
• The company's recent stock performance showed a decline of 7.9%, with shares trading at $56.65 and an average volume of 685,726 shares.
• Sun Life Financial reported $1.29 earnings per share for the last quarter, meeting analyst estimates, but the revenue of $6.65 billion fell short of the expected $7.34 billion.

Sun Life Financial Inc. (NYSE:SLF - Get Free Report) TSE: SLF declared a quarterly dividend on Friday, August 8th, Wall Street Journal reports. Stockholders of record on Wednesday, August 27th will be given a dividend of 0.6394 per share by the financial services provider on Monday, September 29th. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Wednesday, August 27th. This is a 1.0% increase from Sun Life Financial's previous quarterly dividend of $0.63.

Sun Life Financial has a payout ratio of 45.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Sun Life Financial to earn $5.67 per share next year, which means the company should continue to be able to cover its $2.56 annual dividend with an expected future payout ratio of 45.1%.

Sun Life Financial Stock Down 7.9%

SLF stock traded down $4.84 during trading on Friday, hitting $56.65. 1,656,489 shares of the company's stock traded hands, compared to its average volume of 685,726. The business has a fifty day simple moving average of $63.47 and a two-hundred day simple moving average of $59.82. The firm has a market capitalization of $31.90 billion, a P/E ratio of 14.41, a PEG ratio of 1.65 and a beta of 0.90. Sun Life Financial has a 1 year low of $47.60 and a 1 year high of $66.81.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its quarterly earnings results on Thursday, August 7th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.29. Sun Life Financial had a return on equity of 17.33% and a net margin of 7.47%. The business had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $7.34 billion. During the same period last year, the business posted $1.11 EPS. On average, equities research analysts predict that Sun Life Financial will post 5.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Sun Life Financial

Several hedge funds have recently made changes to their positions in SLF. Private Trust Co. NA lifted its position in Sun Life Financial by 130.6% during the 2nd quarter. Private Trust Co. NA now owns 429 shares of the financial services provider's stock worth $29,000 after acquiring an additional 243 shares during the period. Investment Management Corp VA ADV lifted its holdings in shares of Sun Life Financial by 164.5% during the first quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider's stock worth $35,000 after purchasing an additional 385 shares during the period. Hexagon Capital Partners LLC boosted its position in Sun Life Financial by 53.2% in the first quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider's stock valued at $38,000 after buying an additional 231 shares during the last quarter. Westside Investment Management Inc. increased its holdings in Sun Life Financial by 62.8% in the 2nd quarter. Westside Investment Management Inc. now owns 578 shares of the financial services provider's stock worth $38,000 after buying an additional 223 shares during the period. Finally, Tobam acquired a new position in Sun Life Financial in the 2nd quarter worth approximately $44,000. 52.26% of the stock is owned by institutional investors and hedge funds.

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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