Diversify Wealth Management LLC Makes New $563,000 Investment in Sun Life Financial Inc. $SLF

Diversify Wealth Management LLC purchased a new position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,996 shares of the financial services provider’s stock, valued at approximately $563,000.

A number of other hedge funds also recently made changes to their positions in the company. Cornerstone Planning Group LLC increased its position in shares of Sun Life Financial by 68.4% during the fourth quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 167 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new position in shares of Sun Life Financial during the 4th quarter valued at approximately $30,000. Sittner & Nelson LLC purchased a new position in shares of Sun Life Financial during the 4th quarter valued at approximately $33,000. Manchester Capital Management LLC bought a new stake in shares of Sun Life Financial in the fourth quarter worth $49,000. Finally, LOM Asset Management Ltd acquired a new stake in Sun Life Financial in the fourth quarter valued at $53,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Performance

Shares of NYSE SLF opened at $81.82 on Friday. The stock has a fifty day moving average price of $75.86 and a two-hundred day moving average price of $68.91. The firm has a market cap of $45.60 billion, a P/E ratio of 21.09 and a beta of 0.88. Sun Life Financial Inc. has a 1 year low of $56.22 and a 1 year high of $82.25.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $925.99 million. During the same period in the prior year, the company earned $1.82 EPS. On average, research analysts predict that Sun Life Financial Inc. will post 5.69 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Wednesday, May 27th were given a $0.96 dividend. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.92. This represents a $3.84 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Wednesday, May 27th. Sun Life Financial’s payout ratio is presently 72.68%.

Wall Street Analyst Weigh In

SLF has been the subject of several recent analyst reports. BMO Capital Markets reissued an “outperform” rating on shares of Sun Life Financial in a report on Friday, May 8th. Scotiabank reaffirmed a “sector perform” rating on shares of Sun Life Financial in a research report on Wednesday. National Bank Financial raised Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Friday, April 24th. Weiss Ratings restated a “buy (b)” rating on shares of Sun Life Financial in a research note on Monday, July 6th. Finally, Wall Street Zen lowered shares of Sun Life Financial from a “hold” rating to a “sell” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Sun Life Financial presently has a consensus rating of “Moderate Buy” and an average price target of $84.67.

Sun Life Financial Company 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.