Intrust Bank NA Invests $220,000 in Sun Life Financial Inc. $SLF

Intrust Bank NA purchased a new position in 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. The fund purchased 3,308 shares of the financial services provider’s stock, valued at approximately $220,000.

Other institutional investors also recently added to or reduced their stakes in the company. Private Trust Co. NA raised its position in Sun Life Financial by 130.6% in the second quarter. Private Trust Co. NA now owns 429 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 243 shares during the period. Westside Investment Management Inc. grew its position in shares of Sun Life Financial by 62.8% during the 2nd quarter. Westside Investment Management Inc. now owns 578 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 223 shares during the period. Investment Management Corp VA ADV increased its stake in shares of Sun Life Financial by 164.5% during the 1st quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 385 shares during the last quarter. Tobam bought a new stake in shares of Sun Life Financial in the 2nd quarter worth approximately $44,000. Finally, Addison Advisors LLC raised its holdings in shares of Sun Life Financial by 48.8% in the 2nd quarter. Addison Advisors LLC now owns 704 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 231 shares during the period. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Price Performance

Sun Life Financial stock opened at $59.23 on Wednesday. Sun Life Financial Inc. has a one year low of $52.44 and a one year high of $66.81. The firm has a market capitalization of $33.08 billion, a P/E ratio of 14.66, a PEG ratio of 1.67 and a beta of 0.90. The business has a fifty day moving average price of $60.28 and a 200-day moving average price of $61.35.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.05. The business had revenue of $944.53 million for the quarter, compared to analysts’ expectations of $944.53 million. Sun Life Financial had a return on equity of 17.21% and a net margin of 7.59%.During the same quarter in the prior year, the firm posted $2.33 EPS. Sell-side analysts expect that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, November 26th will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.2%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.64. The ex-dividend date is Wednesday, November 26th. Sun Life Financial’s dividend payout ratio (DPR) is 69.41%.

Analyst Ratings Changes

A number of research firms have issued reports on SLF. Morgan Stanley set a $89.00 target price on Sun Life Financial in a research report on Tuesday, October 7th. Argus raised Sun Life Financial to a “strong-buy” rating in a research report on Thursday, September 4th. National Bankshares reissued a “sector perform” rating on shares of Sun Life Financial in a report on Thursday, November 6th. Royal Bank Of Canada restated a “sector perform” rating and issued a $84.00 price objective on shares of Sun Life Financial in a research note on Monday, November 10th. Finally, National Bank Financial downgraded shares of Sun Life Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $86.50.

Sun Life Financial Profile

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.