Wambolt & Associates LLC purchased a new position in shares of Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,935 shares of the financial services provider’s stock, valued at approximately $287,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in SLF. Asset Planning Services Ltd. bought a new stake in Sun Life Financial in the 2nd quarter valued at $27,000. Bremer Bank National Association bought a new stake in Sun Life Financial in the 1st quarter valued at $34,000. Buffington Mohr McNeal bought a new stake in Sun Life Financial in the 1st quarter valued at $50,000. Avestar Capital LLC lifted its position in Sun Life Financial by 1,058.6% in the 1st quarter. Avestar Capital LLC now owns 1,344 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 1,228 shares in the last quarter. Finally, Zions Bancorporation N.A. bought a new stake in Sun Life Financial in the 1st quarter valued at $53,000. 41.29% of the stock is currently owned by institutional investors.
NYSE:SLF traded up $0.14 on Wednesday, hitting $39.24. 25,815 shares of the company’s stock were exchanged, compared to its average volume of 506,885. The business has a 50-day simple moving average of $41.44. Sun Life Financial Inc has a 52 week low of $31.49 and a 52 week high of $42.59. The stock has a market capitalization of $23.48 billion, a P/E ratio of 10.47 and a beta of 0.89.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.24 EPS for the quarter, topping the consensus estimate of $0.94 by $0.30. Sun Life Financial had a net margin of 6.83% and a return on equity of 13.37%. The firm had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the previous year, the firm posted $1.20 EPS. On average, analysts predict that Sun Life Financial Inc will post 3.81 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Wednesday, August 28th will be given a dividend of $0.401 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a yield of 4.09%. Sun Life Financial’s payout ratio is 41.87%.
Several research firms recently commented on SLF. BMO Capital Markets reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Sun Life Financial in a research report on Friday, April 26th. Evercore ISI reaffirmed an “outperform” rating on shares of Sun Life Financial in a research report on Monday, July 22nd. ValuEngine cut shares of Sun Life Financial from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Argus boosted their price target on shares of Sun Life Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Finally, Zacks Investment Research raised shares of Sun Life Financial from a “sell” rating to a “hold” rating and set a $45.00 price target on the stock in a research report on Thursday, July 4th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Sun Life Financial has a consensus rating of “Hold” and a consensus price target of $51.50.
Sun Life Financial Company Profile
Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.
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