Sun Life Financial Inc. (NYSE:SLF) Declares Quarterly Dividend of $0.64

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) announced a quarterly dividend on Friday, August 8th, Wall Street Journal reports. Investors of record on Wednesday, August 27th will be paid a dividend of 0.6394 per share by the financial services provider on Monday, September 29th. This represents a c) dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Wednesday, August 27th. This is a 1.0% increase from Sun Life Financial’s previous quarterly dividend of $0.63.

Sun Life Financial has a dividend payout ratio of 45.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Sun Life Financial to earn $5.67 per share next year, which means the company should continue to be able to cover its $2.56 annual dividend with an expected future payout ratio of 45.1%.

Sun Life Financial Stock Up 0.3%

Shares of SLF stock opened at $58.9250 on Monday. The firm has a market capitalization of $33.18 billion, a P/E ratio of 14.59, a P/E/G ratio of 1.58 and a beta of 0.90. Sun Life Financial has a twelve month low of $52.44 and a twelve month high of $66.81. The stock’s fifty day simple moving average is $61.97 and its 200 day simple moving average is $59.82.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Thursday, August 7th. The financial services provider reported $1.29 EPS for the quarter, hitting the consensus estimate of $1.29. The firm had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $7.34 billion. Sun Life Financial had a return on equity of 17.21% and a net margin of 7.59%.During the same period in the previous year, the business earned $1.11 EPS. As a group, equities research analysts expect that Sun Life Financial will post 5.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SLF. Private Trust Co. NA lifted its stake in shares of Sun Life Financial by 130.6% in the 2nd quarter. Private Trust Co. NA now owns 429 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 243 shares during the period. Investment Management Corp VA ADV lifted its stake in shares of Sun Life Financial by 164.5% in the 1st quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 385 shares during the period. Hexagon Capital Partners LLC lifted its stake in shares of Sun Life Financial by 53.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 231 shares during the period. Westside Investment Management Inc. lifted its stake in shares of Sun Life Financial by 62.8% in the 2nd quarter. Westside Investment Management Inc. now owns 578 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 223 shares during the period. Finally, Tobam bought a new stake in Sun Life Financial in the 2nd quarter valued at about $44,000. 52.26% of the stock is owned by institutional investors and hedge funds.

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.