Burney Co. Has $3.98 Million Stake in Sun Life Financial Inc. $SLF

Burney Co. trimmed its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 25.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,651 shares of the financial services provider’s stock after selling 21,659 shares during the quarter. Burney Co.’s holdings in Sun Life Financial were worth $3,982,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of SLF. Cornerstone Planning Group LLC lifted its position in shares of Sun Life Financial by 68.4% during the 4th quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider’s stock worth $26,000 after buying an additional 167 shares during the period. Brown Brothers Harriman & Co. bought a new stake in Sun Life Financial in the fourth quarter valued at $30,000. Sittner & Nelson LLC acquired a new position in Sun Life Financial during the fourth quarter worth $33,000. Manchester Capital Management LLC bought a new position in shares of Sun Life Financial during the fourth quarter valued at $49,000. Finally, LOM Asset Management Ltd acquired a new stake in shares of Sun Life Financial in the 4th quarter valued at $53,000. 52.26% of the stock is currently owned by institutional investors.

Sun Life Financial Trading Up 1.2%

Shares of SLF stock opened at $79.95 on Wednesday. Sun Life Financial Inc. has a 1 year low of $56.22 and a 1 year high of $80.36. The firm’s 50 day moving average is $74.42 and its 200-day moving average is $67.94. The firm has a market capitalization of $44.61 billion, a price-to-earnings ratio of 20.61 and a beta of 0.88.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.03. The firm had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $925.99 million. Sun Life Financial had a return on equity of 17.80% and a net margin of 7.85%.During the same quarter in the prior year, the business earned $1.82 EPS. On average, equities research analysts forecast that Sun Life Financial Inc. will post 5.76 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Wednesday, May 27th were given a $0.96 dividend. The ex-dividend date was Wednesday, May 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.92. This represents a $3.84 dividend on an annualized basis and a yield of 4.8%. Sun Life Financial’s dividend payout ratio is 72.94%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. TD Securities reaffirmed a “buy” rating on shares of Sun Life Financial in a report on Thursday, May 7th. BMO Capital Markets restated an “outperform” rating on shares of Sun Life Financial in a research report on Friday, May 8th. Barclays reaffirmed an “underweight” rating on shares of Sun Life Financial in a research note on Tuesday. Scotiabank reaffirmed a “sector perform” rating on shares of Sun Life Financial in a report on Wednesday, April 29th. Finally, Wall Street Zen upgraded shares of Sun Life Financial from a “sell” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.67.

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.