Mercer Global Advisors Inc. ADV grew its position in shares of Sun Life Financial Inc. (NYSE:SLF – Free Report) (TSE:SLF) by 9.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,726 shares of the financial services provider’s stock after purchasing an additional 682 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Sun Life Financial were worth $379,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Voisard Asset Management Group Inc. purchased a new position in Sun Life Financial in the fourth quarter worth $26,000. GAMMA Investing LLC grew its position in Sun Life Financial by 6,244.4% in the second quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 562 shares in the last quarter. Ridgewood Investments LLC purchased a new position in Sun Life Financial in the second quarter worth $39,000. Fairfield Financial Advisors LTD purchased a new position in Sun Life Financial in the second quarter worth $43,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in Sun Life Financial in the first quarter worth $76,000. 52.26% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on SLF. Barclays began coverage on shares of Sun Life Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating for the company. Argus upgraded shares of Sun Life Financial to a “strong-buy” rating in a research report on Monday, June 3rd.
Read Our Latest Stock Report on Sun Life Financial
Sun Life Financial Stock Down 0.5 %
NYSE SLF opened at $57.82 on Monday. The company has a 50-day simple moving average of $52.91 and a two-hundred day simple moving average of $51.70. Sun Life Financial Inc. has a 12-month low of $44.57 and a 12-month high of $58.49. The firm has a market cap of $33.37 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 1.48 and a beta of 1.00.
Sun Life Financial (NYSE:SLF – Get Free Report) (TSE:SLF) last posted its quarterly earnings results on Monday, August 12th. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.07. Sun Life Financial had a net margin of 8.60% and a return on equity of 17.47%. The business had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.72 billion. Equities analysts expect that Sun Life Financial Inc. will post 4.86 earnings per share for the current fiscal year.
Sun Life Financial Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Wednesday, August 28th were paid a dividend of $0.587 per share. This represents a $2.35 annualized dividend and a dividend yield of 4.06%. The ex-dividend date was Wednesday, August 28th. Sun Life Financial’s dividend payout ratio (DPR) is 60.10%.
Sun Life Financial Profile
(Free Report)
Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.
Further Reading
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