Raymond James Financial Inc. Takes Position in Sun Life Financial Inc. (NYSE:SLF)

Raymond James Financial Inc. bought a new stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 68,656 shares of the financial services provider's stock, valued at approximately $4,074,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Human Investing LLC bought a new position in shares of Sun Life Financial during the 4th quarter worth about $26,000. Asset Planning Inc bought a new position in Sun Life Financial during the fourth quarter valued at about $40,000. BankPlus Trust Department acquired a new position in Sun Life Financial in the 4th quarter valued at approximately $40,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Sun Life Financial during the 4th quarter worth approximately $45,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Sun Life Financial in the third quarter valued at $51,000. 52.26% of the stock is owned by institutional investors.

Sun Life Financial Price Performance

Shares of NYSE:SLF traded down $0.50 during midday trading on Friday, reaching $56.64. The company's stock had a trading volume of 297,288 shares, compared to its average volume of 686,322. The business's fifty day simple moving average is $56.69 and its 200-day simple moving average is $57.96. The company has a market capitalization of $32.33 billion, a P/E ratio of 14.75, a P/E/G ratio of 1.52 and a beta of 1.04. Sun Life Financial Inc. has a fifty-two week low of $46.41 and a fifty-two week high of $62.85.

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Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its earnings results on Wednesday, February 12th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $0.90 by $0.30. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. On average, analysts forecast that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Wednesday, February 26th will be paid a dividend of $0.5876 per share. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend is Wednesday, February 26th. Sun Life Financial's dividend payout ratio (DPR) is 60.16%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SLF. StockNews.com downgraded shares of Sun Life Financial from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. National Bank Financial upgraded shares of Sun Life Financial from a "sector perform" rating to an "outperform" rating in a research note on Wednesday, January 15th. Finally, Cormark raised Sun Life Financial from a "hold" rating to a "moderate buy" rating in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Sun Life Financial has an average rating of "Moderate Buy".

About Sun Life Financial

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.