Sun Life Financial Inc. $SLF Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 16.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 21,378 shares of the financial services provider’s stock after purchasing an additional 3,080 shares during the period. PNC Financial Services Group Inc.’s holdings in Sun Life Financial were worth $1,421,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Benjamin Edwards Inc. grew its stake in Sun Life Financial by 3.4% in the first quarter. Benjamin Edwards Inc. now owns 5,052 shares of the financial services provider’s stock worth $289,000 after purchasing an additional 167 shares in the last quarter. HighPoint Advisor Group LLC lifted its holdings in Sun Life Financial by 4.4% during the 1st quarter. HighPoint Advisor Group LLC now owns 4,330 shares of the financial services provider’s stock worth $256,000 after buying an additional 181 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in Sun Life Financial by 0.4% during the 1st quarter. Public Sector Pension Investment Board now owns 55,447 shares of the financial services provider’s stock worth $3,173,000 after buying an additional 200 shares during the last quarter. Westside Investment Management Inc. grew its position 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 worth $38,000 after acquiring an additional 223 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Sun Life Financial by 2.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 10,444 shares of the financial services provider’s stock valued at $683,000 after acquiring an additional 224 shares during the last quarter. Institutional investors own 52.26% of the company’s stock.

Analyst Ratings Changes

SLF has been the subject of a number of research reports. TD Securities raised shares of Sun Life Financial from a “hold” rating to a “buy” rating in a report on Tuesday, October 7th. National Bankshares reaffirmed a “sector perform” rating on shares of Sun Life Financial in a report on Thursday, November 6th. Argus upgraded shares of Sun Life Financial to a “strong-buy” rating in a research note on Thursday, September 4th. UBS Group started coverage on shares of Sun Life Financial in a report on Thursday, October 16th. They issued a “neutral” rating on the stock. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Sun Life Financial in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $86.50.

Sun Life Financial Price Performance

NYSE SLF opened at $58.70 on Thursday. Sun Life Financial Inc. has a 12 month low of $52.44 and a 12 month high of $66.81. The firm has a market capitalization of $32.78 billion, a PE ratio of 14.53, a P/E/G ratio of 1.67 and a beta of 0.90. The company’s 50 day simple moving average is $60.28 and its 200 day simple moving average is $61.33.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results 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 firm had revenue of $944.53 million for the quarter, compared to analyst estimates 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 period in the previous year, the company earned $2.33 earnings per share. Sell-side analysts anticipate 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 announced 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 annualized dividend and a dividend yield of 6.3%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Wednesday, November 26th. Sun Life Financial’s payout ratio is 69.41%.

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.