Private Advisor Group LLC bought a new position in shares of Sun Life Financial Inc. (NYSE:SLF – Free Report) (TSE:SLF) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 33,608 shares of the financial services provider’s stock, valued at approximately $1,570,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Sun Life Financial by 3.5% during the third quarter. Vanguard Group Inc. now owns 21,016,287 shares of the financial services provider’s stock worth $835,608,000 after acquiring an additional 703,122 shares during the last quarter. National Bank of Canada FI increased its position in shares of Sun Life Financial by 16.6% during the first quarter. National Bank of Canada FI now owns 7,199,376 shares of the financial services provider’s stock worth $336,066,000 after acquiring an additional 1,027,026 shares during the last quarter. 1832 Asset Management L.P. increased its position in shares of Sun Life Financial by 8.6% during the fourth quarter. 1832 Asset Management L.P. now owns 6,733,215 shares of the financial services provider’s stock worth $312,556,000 after acquiring an additional 534,725 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Sun Life Financial by 0.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 6,526,305 shares of the financial services provider’s stock worth $302,753,000 after acquiring an additional 37,206 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Sun Life Financial during the fourth quarter worth about $290,398,000. 41.72% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have recently issued reports on SLF shares. StockNews.com assumed coverage on Sun Life Financial in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Royal Bank of Canada raised Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Monday, May 15th. Finally, Credit Suisse Group lowered their price objective on Sun Life Financial from $79.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, August 10th.
Sun Life Financial Trading Down 0.0 %
NYSE:SLF opened at $47.52 on Friday. The firm has a market capitalization of $27.89 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 1.27 and a beta of 1.01. The stock has a 50 day moving average of $50.80 and a 200-day moving average of $49.24. Sun Life Financial Inc. has a 52 week low of $37.96 and a 52 week high of $53.21.
Sun Life Financial Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Wednesday, August 30th will be issued a dividend of $0.566 per share. The ex-dividend date is Tuesday, August 29th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.55. This represents a $2.26 annualized dividend and a dividend yield of 4.76%. Sun Life Financial’s dividend payout ratio is 60.71%.
Sun Life Financial Company Profile
Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company provides financial advice, asset management, and investments related products.
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