3,253 Shares in Sun Life Financial Inc. $SLF Acquired by 1ST Source Bank

1ST Source Bank acquired a new position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,253 shares of the financial services provider’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC bought a new stake in shares of Sun Life Financial during the fourth quarter worth $244,000. Principal Financial Group Inc. increased its position in Sun Life Financial by 12.3% in the first quarter. Principal Financial Group Inc. now owns 26,533 shares of the financial services provider’s stock worth $1,518,000 after purchasing an additional 2,900 shares during the period. Bank of New York Mellon Corp raised its holdings in Sun Life Financial by 5.7% during the 1st quarter. Bank of New York Mellon Corp now owns 591,310 shares of the financial services provider’s stock worth $33,858,000 after purchasing an additional 32,048 shares during the last quarter. Cerity Partners LLC lifted its position in Sun Life Financial by 4.3% during the 1st quarter. Cerity Partners LLC now owns 24,889 shares of the financial services provider’s stock valued at $1,425,000 after purchasing an additional 1,022 shares during the period. Finally, Ballentine Partners LLC acquired a new position in Sun Life Financial during the 1st quarter valued at about $263,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SLF shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Sun Life Financial in a research report on Wednesday, October 8th. Cibc Captl Mkts lowered shares of Sun Life Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 29th. Evercore ISI reiterated an “outperform” rating on shares of Sun Life Financial in a research report on Thursday, October 9th. Royal Bank Of Canada lowered Sun Life Financial from a “moderate buy” rating to a “hold” rating in a research report on Friday. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of Sun Life Financial in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $88.50.

Sun Life Financial Stock Performance

Shares of SLF opened at $58.54 on Monday. The stock has a 50 day simple moving average of $60.18 and a 200 day simple moving average of $61.36. Sun Life Financial Inc. has a 52-week low of $52.44 and a 52-week high of $66.81. The firm has a market capitalization of $32.69 billion, a PE ratio of 14.49, a P/E/G ratio of 1.67 and a beta of 0.90.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Wednesday, November 5th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.30 by $0.05. Sun Life Financial had a net margin of 7.59% and a return on equity of 17.21%. The firm had revenue of $944.53 million for the quarter, compared to the consensus estimate of $944.53 million. During the same period last year, the company posted $2.33 EPS. Equities research analysts predict that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, November 26th will be issued a dividend of $0.92 per share. The ex-dividend date is Wednesday, November 26th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.64. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.3%. Sun Life Financial’s dividend payout ratio (DPR) is 69.41%.

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.