Vanguard Group Inc. raised its position in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,233,496 shares of the financial services provider's stock after purchasing an additional 197,887 shares during the quarter. Vanguard Group Inc. owned 3.86% of Sun Life Financial worth $1,438,888,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of SLF. Cerity Partners LLC raised its position in Sun Life Financial by 88.9% in the 3rd quarter. Cerity Partners LLC now owns 29,815 shares of the financial services provider's stock valued at $1,730,000 after buying an additional 14,034 shares during the last quarter. Independent Advisor Alliance grew its stake in shares of Sun Life Financial by 14.6% during the 3rd quarter. Independent Advisor Alliance now owns 14,382 shares of the financial services provider's stock worth $834,000 after acquiring an additional 1,828 shares in the last quarter. FMR LLC raised its holdings in shares of Sun Life Financial by 5.2% in the third quarter. FMR LLC now owns 5,189,939 shares of the financial services provider's stock valued at $301,047,000 after purchasing an additional 257,178 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Sun Life Financial in the third quarter worth $594,000. Finally, Bridgewater Associates LP boosted its holdings in Sun Life Financial by 45.8% during the third quarter. Bridgewater Associates LP now owns 19,347 shares of the financial services provider's stock worth $1,123,000 after purchasing an additional 6,081 shares during the last quarter. 52.26% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have commented on SLF. Cormark raised shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research report on Thursday, February 13th. StockNews.com lowered Sun Life Financial from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Finally, National Bank Financial upgraded Sun Life Financial from a "sector perform" rating to an "outperform" rating in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy".
Read Our Latest Analysis on Sun Life Financial
Sun Life Financial Price Performance
SLF stock traded up $0.49 during trading hours on Monday, reaching $57.13. The stock had a trading volume of 168,997 shares, compared to its average volume of 684,303. The stock has a 50-day simple moving average of $56.69 and a 200 day simple moving average of $57.98. Sun Life Financial Inc. has a fifty-two week low of $46.41 and a fifty-two week high of $62.85. The stock has a market capitalization of $32.61 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04.
Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its earnings results on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.30. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. On average, sell-side analysts forecast that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.
Sun Life Financial Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Wednesday, February 26th will be issued a dividend of $0.5876 per share. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend is Wednesday, February 26th. Sun Life Financial's payout ratio is presently 60.16%.
About Sun Life Financial
(
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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