Global Retirement Partners LLC Raises Position in Sun Life Financial Inc. $SLF

Global Retirement Partners LLC raised its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 2,237.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,806 shares of the financial services provider’s stock after buying an additional 7,472 shares during the period. Global Retirement Partners LLC’s holdings in Sun Life Financial were worth $487,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC boosted its position in Sun Life Financial by 68.4% in the 4th quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider’s stock valued at $26,000 after buying an additional 167 shares during the period. Smartleaf Asset Management LLC boosted its position in Sun Life Financial by 184.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 588 shares of the financial services provider’s stock valued at $35,000 after buying an additional 381 shares during the period. Westside Investment Management Inc. boosted its position in Sun Life Financial by 38.6% in the 3rd quarter. Westside Investment Management Inc. now owns 801 shares of the financial services provider’s stock valued at $48,000 after buying an additional 223 shares during the period. LOM Asset Management Ltd acquired a new stake in shares of Sun Life Financial in the 4th quarter valued at $53,000. Finally, Triumph Capital Management acquired a new stake in shares of Sun Life Financial in the 3rd quarter valued at $64,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Price Performance

Shares of NYSE:SLF opened at $71.95 on Friday. The company’s fifty day moving average price is $68.29 and its 200 day moving average price is $64.50. Sun Life Financial Inc. has a 12 month low of $56.22 and a 12 month high of $74.16. The firm has a market capitalization of $39.86 billion, a P/E ratio of 18.54 and a beta of 0.91.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.38 EPS for the quarter, topping the consensus estimate of $1.35 by $0.03. Sun Life Financial had a net margin of 7.85% and a return on equity of 17.80%. The firm had revenue of $6.41 billion for the quarter, compared to analyst estimates of $925.99 million. During the same period last year, the business earned $1.82 EPS. On average, sell-side analysts anticipate that Sun Life Financial Inc. will post 5.74 EPS for the current year.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, May 27th will be paid a dividend of $0.96 per share. The ex-dividend date is Wednesday, May 27th. This represents a $3.84 annualized dividend and a yield of 5.3%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.92. Sun Life Financial’s dividend payout ratio (DPR) is 72.94%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SLF. National Bank Financial upgraded shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Friday, April 24th. Scotiabank restated a “sector perform” rating on shares of Sun Life Financial in a report on Wednesday, April 29th. Evercore restated an “outperform” rating on shares of Sun Life Financial in a report on Thursday, February 19th. Royal Bank Of Canada restated a “sector perform” rating on shares of Sun Life Financial in a report on Friday, February 13th. Finally, Wall Street Zen lowered shares of Sun Life Financial from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $86.50.

Sun Life Financial Profile

Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.

Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.