Ritholtz Wealth Management boosted its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 7.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,961 shares of the financial services provider’s stock after acquiring 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.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Kore Private Wealth LLC lifted its position in Sun Life Financial by 5,315.4% in the second quarter. Kore Private Wealth LLC now owns 704 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 691 shares during the last quarter. Balentine LLC raised its holdings in shares of Sun Life Financial by 74.2% in the second quarter. Balentine LLC now owns 824 shares of the financial services provider’s stock valued at $30,000 after buying an additional 351 shares during the last quarter. NEXT Financial Group Inc purchased a new stake in shares of Sun Life Financial in the third quarter valued at about $30,000. Old North State Trust LLC purchased a new stake in shares of Sun Life Financial in the third quarter valued at about $46,000. Finally, Westside Investment Management Inc. raised its holdings in shares of Sun Life Financial by 338.0% in the second quarter. Westside Investment Management Inc. now owns 1,555 shares of the financial services provider’s stock valued at $57,000 after buying an additional 1,200 shares during the last quarter. 43.91% of the stock is owned by hedge funds and other institutional investors.
SLF has been the subject of a number of research reports. Barclays upped their target price on shares of Sun Life Financial from $52.00 to $55.00 and gave the company an “underweight” rating in a report on Friday, October 9th. Canaccord Genuity reissued a “neutral” rating and set a $58.00 price target (up from $55.50) on shares of Sun Life Financial in a report on Monday, August 10th. CIBC increased their price target 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. Scotiabank increased 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 report on Monday, August 10th. Finally, TheStreet raised shares of Sun Life Financial from a “c+” rating to a “b-” rating in a report on Thursday, July 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $58.00.
SLF traded down $0.95 on Monday, hitting $41.45. 2,193 shares of the company were exchanged, compared to its average volume of 674,089. The business’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. The firm has a market capitalization of $24.80 billion, a P/E ratio of 14.47, a price-to-earnings-growth ratio of 1.26 and a beta of 1.06.
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 for the quarter, topping the consensus estimate of $0.82 by $0.09. Sun Life Financial had a net margin of 6.03% and a return on equity of 13.77%. The company had revenue of $10.96 billion for the quarter. During the same quarter in the previous year, the company posted $1.24 earnings per share. On average, sell-side analysts predict that Sun Life Financial Inc. will post 3.65 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, August 26th were given a $0.41 dividend. The ex-dividend date was Tuesday, August 25th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.39. This represents a $1.64 annualized dividend and a dividend yield of 3.96%. Sun Life Financial’s dividend payout ratio is currently 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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