Ritholtz Wealth Management grew its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 7.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,961 shares of the financial services provider’s stock after buying an additional 395 shares during the period. Ritholtz Wealth Management’s holdings in Sun Life Financial were worth $243,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in SLF. Two Sigma Advisers LP grew its stake in shares of Sun Life Financial by 115.2% during the 1st quarter. Two Sigma Advisers LP now owns 9,900 shares of the financial services provider’s stock valued at $318,000 after buying an additional 5,300 shares during the period. Advisor Group Holdings Inc. purchased a new stake in Sun Life Financial during the 1st quarter worth $627,000. Voloridge Investment Management LLC purchased a new stake in Sun Life Financial during the 1st quarter worth $525,000. APG Asset Management N.V. boosted its position in Sun Life Financial by 4.2% during the 1st quarter. APG Asset Management N.V. now owns 1,037,668 shares of the financial services provider’s stock worth $33,004,000 after purchasing an additional 41,811 shares during the period. Finally, Morgan Stanley boosted its position in Sun Life Financial by 25.4% during the 1st quarter. Morgan Stanley now owns 1,047,173 shares of the financial services provider’s stock worth $33,603,000 after purchasing an additional 212,184 shares during the period. 43.91% of the stock is owned by institutional investors.
A number of brokerages recently weighed in on SLF. Canaccord Genuity reaffirmed a “neutral” rating and set a $58.00 price target (up from $55.50) on shares of Sun Life Financial in a research report on Monday, August 10th. TheStreet raised shares of Sun Life Financial from a “c+” rating to a “b-” rating in a research report on Thursday, July 23rd. Scotiabank upped their price target on shares of Sun Life Financial from $55.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Monday, August 10th. CIBC boosted their price objective on shares of Sun Life Financial from $59.00 to $64.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Finally, BMO Capital Markets boosted their price objective on shares of Sun Life Financial from $56.00 to $61.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $58.00.
Shares of Sun Life Financial stock traded down $0.95 during trading on Monday, reaching $41.45. The company had a trading volume of 2,193 shares, compared to its average volume of 674,089. The company has a market cap of $24.80 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 1.26 and a beta of 1.06. The firm’s fifty day moving average is $41.42 and its 200-day moving average is $37.99. Sun Life Financial Inc. has a fifty-two week low of $24.37 and a fifty-two week high of $50.13.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Thursday, August 6th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.09. The business had revenue of $10.96 billion for the quarter. Sun Life Financial had a net margin of 6.03% and a return on equity of 13.77%. During the same quarter last year, the company posted $1.24 EPS. On average, equities analysts forecast that Sun Life Financial Inc. will post 3.65 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, August 26th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend was Tuesday, August 25th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.39. Sun Life Financial’s dividend payout ratio is 42.16%.
About Sun Life Financial
Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients in the United States, the United Kingdom, Canada, and internationally. It offers life, health, wellness, disability, critical illness, stop-loss, and long-term care insurance products.
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