Sun Life Financial Inc (SLF) Shares Bought by Comerica Bank

Comerica Bank increased its holdings in shares of Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 4.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,980 shares of the financial services provider’s stock after buying an additional 1,771 shares during the quarter. Comerica Bank’s holdings in Sun Life Financial were worth $1,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. lifted its position in Sun Life Financial by 15.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 9,804 shares of the financial services provider’s stock worth $394,000 after acquiring an additional 1,330 shares during the period. Vident Investment Advisory LLC lifted its position in Sun Life Financial by 1.7% during the 2nd quarter. Vident Investment Advisory LLC now owns 83,137 shares of the financial services provider’s stock worth $3,344,000 after acquiring an additional 1,365 shares during the period. Moody Aldrich Partners LLC acquired a new stake in Sun Life Financial during the 2nd quarter worth about $68,346,000. Todd Asset Management LLC lifted its position in Sun Life Financial by 0.5% during the 2nd quarter. Todd Asset Management LLC now owns 372,156 shares of the financial services provider’s stock worth $14,939,000 after acquiring an additional 1,788 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in Sun Life Financial by 16.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 13,491 shares of the financial services provider’s stock worth $542,000 after acquiring an additional 1,875 shares during the period. Hedge funds and other institutional investors own 41.24% of the company’s stock.

SLF has been the subject of a number of research reports. Barclays reaffirmed a “buy” rating on shares of Sun Life Financial in a research report on Friday, November 9th. Zacks Investment Research cut Sun Life Financial from a “hold” rating to a “sell” rating in a research report on Monday, August 27th. ValuEngine cut Sun Life Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Desjardins reaffirmed a “buy” rating on shares of Sun Life Financial in a research report on Tuesday, October 16th. Finally, Canaccord Genuity reaffirmed an “average” rating and set a $53.00 price target on shares of Sun Life Financial in a research report on Friday, November 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. Sun Life Financial presently has a consensus rating of “Hold” and an average target price of $54.00.

Shares of SLF opened at $36.79 on Monday. Sun Life Financial Inc has a one year low of $35.72 and a one year high of $44.50. The company has a quick ratio of 4.06, a current ratio of 4.06 and a debt-to-equity ratio of 0.20. The stock has a market cap of $22.19 billion, a price-to-earnings ratio of 11.50 and a beta of 0.83.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings data on Wednesday, November 7th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.03. The business had revenue of $4.59 billion during the quarter. Sun Life Financial had a return on equity of 13.74% and a net margin of 8.15%. As a group, equities research analysts expect that Sun Life Financial Inc will post 3.69 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Wednesday, November 28th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend is Tuesday, November 27th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.37. Sun Life Financial’s payout ratio is 47.50%.

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Sun Life Financial Profile

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients, high-net-worth individuals, and families. It operates through Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate segments.

Further Reading: What is a Roth IRA?

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).

Institutional Ownership by Quarter for Sun Life Financial (NYSE:SLF)

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