Raymond James Financial Services Advisors Inc. Has $1.21 Million Stake in Sun Life Financial Inc. (NYSE:SLF)

Raymond James Financial Services Advisors Inc. increased its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,393 shares of the financial services provider’s stock after purchasing an additional 593 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Sun Life Financial were worth $1,213,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Money Concepts Capital Corp acquired a new stake in shares of Sun Life Financial in the fourth quarter valued at approximately $26,000. Achmea Investment Management B.V. bought a new stake in Sun Life Financial during the 1st quarter worth about $32,000. ST Germain D J Co. Inc. acquired a new position in shares of Sun Life Financial during the 2nd quarter worth about $34,000. IFP Advisors Inc grew its holdings in shares of Sun Life Financial by 166.9% in the 2nd quarter. IFP Advisors Inc now owns 678 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 424 shares in the last quarter. Finally, Headinvest LLC acquired a new stake in shares of Sun Life Financial in the third quarter valued at about $39,000. Institutional investors own 52.26% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group started coverage on Sun Life Financial in a research report on Thursday, February 22nd. They set a “buy” rating for the company.

Sun Life Financial Trading Down 1.4 %

NYSE SLF opened at $50.95 on Friday. The firm’s fifty day moving average price is $53.74 and its two-hundred day moving average price is $51.16. Sun Life Financial Inc. has a 1 year low of $44.57 and a 1 year high of $55.46. The firm has a market capitalization of $29.68 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 1.27 and a beta of 1.01.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Wednesday, February 7th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.06. Sun Life Financial had a net margin of 7.79% and a return on equity of 17.30%. The business had revenue of $13.73 billion during the quarter. On average, research analysts anticipate that Sun Life Financial Inc. will post 5.07 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, February 28th were issued a dividend of $0.581 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.56. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.56%. Sun Life Financial’s payout ratio is presently 59.79%.

Sun Life Financial Company 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.