Janney Montgomery Scott LLC trimmed its holdings in Sun Life Financial Inc. (NYSE:SLF – Free Report) (TSE:SLF) by 4.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,905 shares of the financial services provider’s stock after selling 566 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Sun Life Financial were worth $673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Sun Life Financial during the 4th quarter valued at about $290,398,000. FIL Ltd boosted its holdings in shares of Sun Life Financial by 36.9% during the 1st quarter. FIL Ltd now owns 13,470,123 shares of the financial services provider’s stock valued at $629,303,000 after acquiring an additional 3,632,891 shares during the last quarter. Man Group plc boosted its holdings in shares of Sun Life Financial by 84.8% during the 4th quarter. Man Group plc now owns 3,141,398 shares of the financial services provider’s stock valued at $145,716,000 after acquiring an additional 1,441,387 shares during the last quarter. Intact Investment Management Inc. boosted its holdings in shares of Sun Life Financial by 510.5% during the 1st quarter. Intact Investment Management Inc. now owns 1,496,440 shares of the financial services provider’s stock valued at $69,906,000 after acquiring an additional 1,251,314 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Sun Life Financial by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 21,016,287 shares of the financial services provider’s stock valued at $835,608,000 after acquiring an additional 703,122 shares during the last quarter. 44.96% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
SLF has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on shares of Sun Life Financial in a report on Thursday, October 5th. They set a “hold” rating on the stock. Credit Suisse Group dropped their price target on shares of Sun Life Financial from $79.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 10th.
Sun Life Financial Price Performance
Shares of NYSE:SLF opened at $44.73 on Friday. Sun Life Financial Inc. has a 1-year low of $41.48 and a 1-year high of $53.21. The company has a market capitalization of $26.14 billion, a P/E ratio of 12.29, a P/E/G ratio of 1.22 and a beta of 1.01. The firm’s 50 day simple moving average is $48.32 and its two-hundred day simple moving average is $49.44.
Sun Life Financial (NYSE:SLF – Get Free Report) (TSE:SLF) last issued its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $1.17 earnings per share for the quarter, meeting the consensus estimate of $1.17. Sun Life Financial had a net margin of 7.28% and a return on equity of 15.10%. The business had revenue of $5.71 billion for the quarter. On average, sell-side analysts anticipate that Sun Life Financial Inc. will post 4.67 earnings per share for the current fiscal year.
Sun Life Financial Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Wednesday, August 30th were issued a dividend of $0.566 per share. The ex-dividend date was Tuesday, August 29th. This represents a $2.26 annualized dividend and a yield of 5.06%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.55. Sun Life Financial’s payout ratio is currently 60.44%.
Sun Life Financial 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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