Sun Life Financial Inc. (NYSE:SLF) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its position in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 32.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,775,042 shares of the financial services provider's stock after purchasing an additional 431,418 shares during the period. Dimensional Fund Advisors LP owned 0.31% of Sun Life Financial worth $86,958,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SLF. PNC Financial Services Group Inc. increased its position in Sun Life Financial by 5.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 17,610 shares of the financial services provider's stock worth $913,000 after purchasing an additional 875 shares during the last quarter. US Bancorp DE increased its position in shares of Sun Life Financial by 24.6% during the fourth quarter. US Bancorp DE now owns 20,678 shares of the financial services provider's stock valued at $1,072,000 after acquiring an additional 4,081 shares during the last quarter. Congress Wealth Management LLC DE acquired a new stake in shares of Sun Life Financial during the fourth quarter valued at about $214,000. United Services Automobile Association increased its position in shares of Sun Life Financial by 14.9% during the fourth quarter. United Services Automobile Association now owns 24,095 shares of the financial services provider's stock valued at $1,250,000 after acquiring an additional 3,118 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its position in shares of Sun Life Financial by 171.3% during the fourth quarter. Allianz Asset Management GmbH now owns 1,172,025 shares of the financial services provider's stock valued at $61,081,000 after acquiring an additional 740,014 shares during the last quarter. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Sun Life Financial Price Performance

Shares of NYSE SLF traded up $0.48 during midday trading on Thursday, hitting $58.10. The company's stock had a trading volume of 367,222 shares, compared to its average volume of 696,124. The business's fifty day simple moving average is $52.58 and its two-hundred day simple moving average is $51.68. Sun Life Financial Inc. has a 1 year low of $44.57 and a 1 year high of $58.34. The firm has a market capitalization of $33.68 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 1.46 and a beta of 1.00.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings data on Monday, August 12th. The financial services provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. Sun Life Financial had a net margin of 8.60% and a return on equity of 17.47%. The business had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.72 billion. Analysts anticipate that Sun Life Financial Inc. will post 4.86 EPS for the current fiscal year.

Sun Life Financial Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Wednesday, August 28th will be paid a $0.587 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $2.35 dividend on an annualized basis and a yield of 4.04%. Sun Life Financial's dividend payout ratio is currently 59.85%.

Wall Street Analysts Forecast Growth

SLF has been the subject of a number of recent analyst reports. Barclays initiated coverage on shares of Sun Life Financial in a research report on Thursday, September 5th. They set an "equal weight" rating for the company. Argus upgraded shares of Sun Life Financial to a "strong-buy" rating in a research report on Monday, June 3rd.

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.