Envestnet Asset Management Inc. Has $1.29 Million Stock Holdings in Sun Life Financial Inc. (NYSE:SLF)

Envestnet Asset Management Inc. grew its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 3.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,807 shares of the financial services provider’s stock after buying an additional 674 shares during the period. Envestnet Asset Management Inc.’s holdings in Sun Life Financial were worth $1,294,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. World Investment Advisors acquired a new stake in shares of Sun Life Financial during the 4th quarter valued at about $246,000. Geode Capital Management LLC raised its stake in Sun Life Financial by 30.6% during the 4th quarter. Geode Capital Management LLC now owns 3,467,275 shares of the financial services provider’s stock worth $210,080,000 after buying an additional 812,689 shares during the period. Franklin Resources Inc. increased its position in shares of Sun Life Financial by 16.9% during the fourth quarter. Franklin Resources Inc. now owns 283,417 shares of the financial services provider’s stock worth $16,807,000 after acquiring an additional 40,997 shares in the last quarter. Wellington Management Group LLP lifted its stake in Sun Life Financial by 2,071.4% in the 4th quarter. Wellington Management Group LLP now owns 1,350,751 shares of the financial services provider’s stock valued at $80,160,000 after acquiring an additional 1,288,545 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its stake in Sun Life Financial by 18.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 112,838 shares of the financial services provider’s stock valued at $6,692,000 after purchasing an additional 17,759 shares in the last quarter. Institutional investors own 52.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on SLF. National Bank Financial raised shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 15th. Cormark raised Sun Life Financial from a “hold” rating to a “moderate buy” rating in a research note on Thursday, February 13th. Finally, StockNews.com cut shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Sun Life Financial presently has a consensus rating of “Moderate Buy”.

Sun Life Financial Stock Up 0.8 %

SLF stock opened at $59.21 on Wednesday. Sun Life Financial Inc. has a twelve month low of $46.41 and a twelve month high of $62.85. The stock’s 50 day moving average is $56.14 and its 200-day moving average is $57.86. The firm has a market capitalization of $33.60 billion, a PE ratio of 15.42, a P/E/G ratio of 1.52 and a beta of 0.87.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.30. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. On average, equities research analysts anticipate that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Wednesday, February 26th were paid a $0.5876 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $2.35 dividend on an annualized basis and a yield of 3.97%. Sun Life Financial’s dividend payout ratio is currently 60.16%.

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.