International Assets Investment Management LLC bought a new stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 16,594 shares of the financial services provider's stock, valued at approximately $963,000.
Other hedge funds have also bought and sold shares of the company. Verdence Capital Advisors LLC raised its holdings in shares of Sun Life Financial by 1.8% during the 2nd quarter. Verdence Capital Advisors LLC now owns 12,160 shares of the financial services provider's stock valued at $596,000 after buying an additional 219 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Sun Life Financial by 2.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 10,302 shares of the financial services provider's stock valued at $562,000 after purchasing an additional 221 shares during the last quarter. Burney Co. raised its position in Sun Life Financial by 0.3% in the 1st quarter. Burney Co. now owns 89,252 shares of the financial services provider's stock worth $4,871,000 after purchasing an additional 238 shares during the period. Blair William & Co. IL lifted its stake in Sun Life Financial by 3.0% in the first quarter. Blair William & Co. IL now owns 12,568 shares of the financial services provider's stock worth $686,000 after purchasing an additional 366 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Sun Life Financial by 1.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 33,507 shares of the financial services provider's stock valued at $1,642,000 after buying an additional 426 shares during the last quarter. 52.26% of the stock is currently owned by institutional investors.
Sun Life Financial Trading Up 3.8 %
Shares of SLF stock traded up $2.10 during mid-day trading on Tuesday, reaching $57.79. The stock had a trading volume of 1,264,824 shares, compared to its average volume of 654,107. The stock's 50-day moving average price is $56.52 and its two-hundred day moving average price is $52.44. The firm has a market capitalization of $36.41 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01. Sun Life Financial Inc. has a 52-week low of $46.41 and a 52-week high of $58.51.
Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its quarterly earnings data on Monday, August 12th. The financial services provider reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. The firm had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.72 billion. Sun Life Financial had a return on equity of 17.47% and a net margin of 8.60%. On average, equities research analysts forecast that Sun Life Financial Inc. will post 4.86 earnings per share for the current year.
Sun Life Financial Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Wednesday, August 28th were given a $0.587 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $2.35 annualized dividend and a dividend yield of 4.06%. Sun Life Financial's dividend payout ratio is 60.31%.
Wall Street Analyst Weigh In
Separately, Barclays assumed coverage on Sun Life Financial in a research report on Thursday, September 5th. They set an "equal weight" rating on the stock.
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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