State of Wisconsin Investment Board cut its position in shares of Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 655,456 shares of the financial services provider’s stock after selling 12,200 shares during the period. State of Wisconsin Investment Board owned approximately 0.11% of Sun Life Financial worth $27,140,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of SLF. Independence Bank of Kentucky purchased a new stake in shares of Sun Life Financial in the 4th quarter valued at approximately $117,000. Advisory Services Network LLC raised its stake in shares of Sun Life Financial by 0.7% in the 2nd quarter. Advisory Services Network LLC now owns 5,338 shares of the financial services provider’s stock valued at $191,000 after acquiring an additional 38 shares during the period. Stifel Financial Corp raised its stake in shares of Sun Life Financial by 4.3% in the 2nd quarter. Stifel Financial Corp now owns 6,060 shares of the financial services provider’s stock valued at $216,000 after acquiring an additional 249 shares during the period. Pinnacle Associates Ltd. purchased a new stake in shares of Sun Life Financial in the 3rd quarter valued at approximately $225,000. Finally, HighTower Advisors LLC acquired a new position in shares of Sun Life Financial in the second quarter valued at approximately $234,000. 42.36% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on SLF shares. Zacks Investment Research upgraded shares of Sun Life Financial from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Friday, February 9th. Scotiabank upgraded shares of Sun Life Financial from a “sector perform” rating to a “buy” rating and set a $63.00 price target for the company in a report on Wednesday, January 31st. TD Securities upgraded shares of Sun Life Financial from a “hold” rating to a “buy” rating in a report on Monday, January 15th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $52.00 price target on shares of Sun Life Financial in a report on Friday, November 24th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $52.67.
Shares of Sun Life Financial Inc (SLF) traded up $0.18 during trading on Wednesday, hitting $42.21. 464,567 shares of the stock traded hands, compared to its average volume of 569,113. Sun Life Financial Inc has a fifty-two week low of $32.22 and a fifty-two week high of $44.50. The firm has a market cap of $25,790.00, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90. The company has a debt-to-equity ratio of 0.23, a quick ratio of 5.06 and a current ratio of 5.06.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $0.83 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 firm had revenue of $6.81 billion during the quarter. analysts expect that Sun Life Financial Inc will post 3.66 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 1st will be given a $0.3617 dividend. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.36. The ex-dividend date is Wednesday, February 28th. This represents a $1.45 annualized dividend and a yield of 3.43%. Sun Life Financial’s dividend payout ratio is 54.48%.
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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