Bank of New York Mellon Corp increased its stake in Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 917,708 shares of the financial services provider’s stock after purchasing an additional 20,777 shares during the period. Bank of New York Mellon Corp owned 0.15% of Sun Life Financial worth $37,865,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of SLF. Independence Bank of Kentucky bought a new position in Sun Life Financial in the 4th quarter worth approximately $117,000. Pinnacle Associates Ltd. acquired a new stake in Sun Life Financial during the 3rd quarter worth $225,000. First National Trust Co. acquired a new stake in Sun Life Financial during the 3rd quarter worth $308,000. Beacon Investment Advisory Services Inc. acquired a new stake in Sun Life Financial during the 3rd quarter worth $375,000. Finally, Dean Capital Investments Management LLC acquired a new stake in Sun Life Financial during the 4th quarter worth $378,000. Hedge funds and other institutional investors own 42.36% of the company’s stock.
A number of analysts have commented on the stock. Scotiabank raised shares of Sun Life Financial from a “sector perform” rating to a “buy” rating and set a $63.00 target price for the company in a report on Wednesday, January 31st. BMO Capital Markets raised shares of Sun Life Financial from a “market perform” rating to an “outperform” rating in a report on Friday, February 16th. TD Securities raised shares of Sun Life Financial from a “hold” rating to a “buy” rating in a report on Monday, January 15th. Finally, Zacks Investment Research lowered shares of Sun Life Financial from a “buy” rating to a “hold” rating in a report on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Sun Life Financial presently has an average rating of “Buy” and a consensus target price of $52.67.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.83. Sun Life Financial had a net margin of 7.59% and a return on equity of 12.61%. The company had revenue of $6.81 billion during the quarter. equities analysts forecast that Sun Life Financial Inc will post 3.66 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 1st will be issued a $0.3617 dividend. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $1.45 annualized dividend and a dividend yield of 3.41%. Sun Life Financial’s payout ratio is 53.87%.
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Sun Life Financial Profile
Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services company providing a range of insurance, wealth and asset management solutions to individuals and corporate Clients. It operates through five segments. The Sun Life Financial Canada segment provides retail insurance and investment advice, products and services to people across Canada.
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