Cwm LLC increased its holdings in Sun Life Financial Inc. (NYSE:SLF – Get Rating) (TSE:SLF) by 5.6% during the first quarter, according to its most recent disclosure to the Securities & Exchange Commission. The fund held 5,595 shares of the financial services provider after buying an additional 299 shares during the period. Cwm LLC’s holdings in Sun Life Financial were worth $312,000 at the end of the last quarter.
Several other hedge funds and other institutional investors also bought and sold shares of the company. Brinker Capital Investments LLC increased its stake in Sun Life Financial shares by 1.4% in the fourth quarter. Brinker Capital Investments LLC now owns 12,828 shares of the financial services provider valued at $714,000 after buying 173 additional shares in the last quarter. JCIC Asset Management Inc. increased its stake in Sun Life Financial shares by 0.8% in the first quarter. JCIC Asset Management Inc. now owns 26,721 shares of the financial services provider valued at $1,492,000 after buying an additional 205 shares last quarter. Quadrant Capital Group LLC increased its stake in shares of Sun Life Financial by 8.9% in the fourth quarter. Quadrant Capital Group LLC now owns 2,735 shares of the financial services provider valued at $152,000 after buying an additional 224 shares last quarter. Envestnet Asset Management Inc. increased its stake in shares of Sun Life Financial by 1.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 20,691 shares of the financial services provider valued at $1,152,000 after buying an additional 264 shares last quarter. Finally, Cetera Investment Advisers increased its stake in Sun Life Financial shares by 1.2% in the fourth quarter. Cetera Investment Advisers now owns 22,447 shares of the financial services provider valued at $1,250,000 after buying 269 additional shares last quarter. Institutional investors hold 47.14% of the company’s shares.
Several stock analysts have recently weighed in on SLF shares. Scotiabank lowered the target price for Sun Life Financial shares from C$71.00 to C$67.00 in a Friday, May 13 research note. StockNews.com began covering Sun Life Financial stocks in a research note on Thursday, March 31. They issued a “holding” rating for the company. National Bank Financial lowered its target price on Sun Life Financial shares from C$72.00 to C$68.00 in a Wednesday, June 1 research note. Canaccord Genuity Group cut its price target on Sun Life Financial shares from C$75.50 to C$67.00 in a Sunday, May 15 research report. Finally, Barclays began covering shares of Sun Life Financial in a research report on Thursday, June 9. They set an “overweight” rating and a price target of $71.00 for the company. Three analysts gave the stock a hold rating and seven gave the company a buy rating. According to MarketBeat.com, the stock has a consensus rating of “moderate buy” and a consensus price target of $72.23.
Shares of Sun Life Financial opened at $45.48 on Friday. The company has a 50-day moving average of $47.65 and a 200-day moving average of $52.30. The stock has a market capitalization of $26.65 billion, a PE ratio of 8.70, a PEG ratio of 1.06 and a beta of 1.05. Sun Life Financial Inc. has a 52-week low of $43.80 and a 52-week high of $58.49.
Sun Life Financial (NYSE:SLF – Get Rating) (TSE:SLF) last reported results on Wednesday, May 11. The financial services provider reported earnings per share (EPS) of $1.14 for the quarter, beating analyst consensus estimates of $1.11 by $0.03. The company had revenue of $300.00 million during the quarter. Sun Life Financial posted a net margin of 11.38% and a return on equity of 13.66%. Stock analysts expect Sun Life Financial Inc. will post an EPS of 4.77 for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 30. Shareholders of record on Wednesday, June 1 received a dividend of $0.537. This represents a dividend of $2.15 on an annualized basis and a dividend yield of 4.72%. The ex-dividend date was Tuesday, May 31. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.52. Sun Life Financial’s payout ratio is currently 41.68%.
Sun Life Financial profile (Get a rating)
Sun Life Financial Inc, a financial services company, provides insurance, wealth and asset management solutions to individuals and businesses worldwide. It offers term and permanent life insurance products, as well as personal health, dental, critical illness, long-term care and disability insurance products. The company also offers reinsurance products; investment advisory and portfolio management services; mutual funds and segregated funds; trust and banking services; real estate brokerage and appraisal services; and merchant banking.
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