Sun Life Financial Inc. (NYSE:SLF) Shares Sold by Raymond James & Associates

Raymond James & Associates lessened its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 4.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,291 shares of the financial services provider’s stock after selling 1,548 shares during the quarter. Raymond James & Associates’ holdings in Sun Life Financial were worth $1,726,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SLF. Money Concepts Capital Corp acquired a new stake in Sun Life Financial during the 4th quarter worth $26,000. Achmea Investment Management B.V. acquired a new stake in Sun Life Financial during the 1st quarter worth $32,000. IFP Advisors Inc raised its holdings in shares of Sun Life Financial by 166.9% during the 2nd quarter. IFP Advisors Inc now owns 678 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 424 shares during the period. Headinvest LLC purchased a new position in shares of Sun Life Financial during the 3rd quarter worth $39,000. Finally, Legacy Financial Group LLC purchased a new position in shares of Sun Life Financial during the 3rd quarter worth $40,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Analyst Upgrades and Downgrades

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

Sun Life Financial Stock Down 0.2 %

NYSE SLF opened at $50.22 on Thursday. Sun Life Financial Inc. has a 52 week low of $44.57 and a 52 week high of $55.46. The business’s fifty day simple moving average is $53.65 and its 200-day simple moving average is $51.19. The firm has a market cap of $29.25 billion, a PE ratio of 12.94, a P/E/G ratio of 1.25 and a beta of 1.01.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.17 by $0.06. The business had revenue of $13.73 billion for the quarter. Sun Life Financial had a return on equity of 17.30% and a net margin of 7.79%. Research analysts expect that Sun Life Financial Inc. will post 5.06 EPS for the current year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, February 28th were issued a $0.581 dividend. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.56. This represents a $2.32 annualized dividend and a yield of 4.63%. The ex-dividend date was Tuesday, February 27th. Sun Life Financial’s payout ratio is 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.