Financial Engines Advisors L.L.C. lowered its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 5.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,176 shares of the financial services provider’s stock after selling 784 shares during the period. Financial Engines Advisors L.L.C.’s holdings in Sun Life Financial were worth $507,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. raised its stake in Sun Life Financial by 0.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,587 shares of the financial services provider’s stock valued at $131,000 after buying an additional 17 shares during the last quarter. Stifel Financial Corp raised its stake in Sun Life Financial by 1.8% in the first quarter. Stifel Financial Corp now owns 5,811 shares of the financial services provider’s stock valued at $209,000 after buying an additional 102 shares during the last quarter. Pegasus Partners Ltd. raised its stake in Sun Life Financial by 0.6% in the first quarter. Pegasus Partners Ltd. now owns 36,754 shares of the financial services provider’s stock valued at $1,343,000 after buying an additional 208 shares during the last quarter. Wetherby Asset Management Inc. raised its stake in Sun Life Financial by 4.3% in the second quarter. Wetherby Asset Management Inc. now owns 7,773 shares of the financial services provider’s stock valued at $278,000 after buying an additional 317 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in Sun Life Financial by 7.9% in the second quarter. Janney Montgomery Scott LLC now owns 6,126 shares of the financial services provider’s stock valued at $219,000 after buying an additional 450 shares during the last quarter. 43.01% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Sun Life Financial Inc. (NYSE:SLF) opened at 37.46 on Friday. Sun Life Financial Inc. has a 12 month low of $30.38 and a 12 month high of $40.57. The stock has a market cap of $22.99 billion, a price-to-earnings ratio of 11.62 and a beta of 0.88. The firm has a 50-day moving average price of $36.91 and a 200-day moving average price of $36.18.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.09. The company had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $7.36 billion. Sun Life Financial had a net margin of 12.48% and a return on equity of 13.32%. Sun Life Financial’s revenue was down 14.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 earnings per share. Equities analysts expect that Sun Life Financial Inc. will post $3.15 EPS for the current fiscal year.
Sun Life Financial declared that its Board of Directors has approved a share buyback plan on Wednesday, August 9th that allows the company to repurchase 11,500,000 outstanding shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Wednesday, August 30th will be paid a $0.3439 dividend. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend is Monday, August 28th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.32. Sun Life Financial’s dividend payout ratio (DPR) is currently 40.06%.
TRADEMARK VIOLATION NOTICE: “Financial Engines Advisors L.L.C. Has $507,000 Position in Sun Life Financial Inc. (NYSE:SLF)” was originally reported by Community Financial News and is owned by of Community Financial News. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece can be viewed at https://www.com-unik.info/2017/08/11/financial-engines-advisors-l-l-c-has-507000-position-in-sun-life-financial-inc-nyseslf.html.
Several analysts have recently commented on the stock. BidaskClub raised shares of Sun Life Financial from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. TD Securities boosted their target price on Sun Life Financial from $50.00 to $51.00 and gave the company a “hold” rating in a research report on Thursday. ValuEngine lowered Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research raised Sun Life Financial from a “sell” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Wednesday, July 12th. Finally, National Bank Financial reissued an “outperform overweight” rating on shares of Sun Life Financial in a research report on Tuesday, May 9th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Sun Life Financial presently has a consensus rating of “Hold” and a consensus price target of $45.83.
Sun Life Financial Company 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.
Want to see what other hedge funds are holding SLF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF).
What are top analysts saying about Sun Life Financial Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Sun Life Financial Inc. and related companies.