US Bancorp DE Purchases 1,669 Shares of Sun Life Financial Inc. (NYSE:SLF)

US Bancorp DE raised its position in Sun Life Financial Inc. (NYSE:SLFGet Rating) (TSE:SLF) by 8.9% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 20,516 shares of the financial services provider’s stock after buying an additional 1,669 shares during the period. US Bancorp DE’s holdings in Sun Life Financial were worth $817,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Natixis Investment Managers International boosted its position in Sun Life Financial by 261.7% in the 2nd quarter. Natixis Investment Managers International now owns 6,822 shares of the financial services provider’s stock valued at $311,000 after buying an additional 4,936 shares during the last quarter. Shell Asset Management Co. boosted its position in shares of Sun Life Financial by 1.2% in the 2nd quarter. Shell Asset Management Co. now owns 148,867 shares of the financial services provider’s stock worth $6,807,000 after purchasing an additional 1,734 shares during the last quarter. AE Wealth Management LLC boosted its position in shares of Sun Life Financial by 8.1% in the 2nd quarter. AE Wealth Management LLC now owns 16,172 shares of the financial services provider’s stock worth $741,000 after purchasing an additional 1,205 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its position in shares of Sun Life Financial by 7.2% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 8,894 shares of the financial services provider’s stock worth $408,000 after purchasing an additional 595 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of Sun Life Financial by 18.7% in the 2nd quarter. Quadrant Capital Group LLC now owns 3,148 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 497 shares during the last quarter. 44.94% of the stock is currently owned by institutional investors.

Sun Life Financial Price Performance

SLF opened at $47.98 on Friday. The business’s 50-day moving average price is $46.68 and its two-hundred day moving average price is $44.85. Sun Life Financial Inc. has a 1 year low of $37.96 and a 1 year high of $58.49. The company has a market capitalization of $28.13 billion, a price-to-earnings ratio of 11.26, a P/E/G ratio of 1.17 and a beta of 1.00.

Sun Life Financial (NYSE:SLFGet Rating) (TSE:SLF) last released its quarterly earnings results on Wednesday, November 2nd. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.17. Sun Life Financial had a return on equity of 13.30% and a net margin of 13.67%. The firm had revenue of $6.62 billion for the quarter. Sell-side analysts anticipate that Sun Life Financial Inc. will post 4.47 earnings per share for the current fiscal year.

Sun Life Financial Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Wednesday, November 23rd were paid a $0.528 dividend. This represents a $2.11 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend was Tuesday, November 22nd. Sun Life Financial’s dividend payout ratio is 49.53%.

Analysts Set New Price Targets

Several research firms have recently issued reports on SLF. StockNews.com began coverage on Sun Life Financial in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Credit Suisse Group began coverage on Sun Life Financial in a research report on Thursday, January 12th. They issued an “outperform” rating on the stock. National Bank Financial dropped their price objective on Sun Life Financial from C$67.00 to C$65.00 in a research note on Friday, October 28th. Barclays dropped their price objective on Sun Life Financial from C$67.00 to C$63.00 in a research note on Wednesday, October 12th. Finally, Royal Bank of Canada dropped their price objective on Sun Life Financial from C$78.00 to C$75.00 in a research note on Friday, November 4th.

Sun Life Financial Company Profile

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Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company also provides reinsurance products; investment counselling and portfolio management services; mutual funds and segregated funds; trust and banking services; real estate property brokerage and appraisal services; and merchant banking services.

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Institutional Ownership by Quarter for Sun Life Financial (NYSE:SLF)

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