Commonwealth Equity Services LLC Acquires 2,304 Shares of Sun Life Financial Inc. (NYSE:SLF)

Commonwealth Equity Services LLC increased its holdings in shares of Sun Life Financial Inc. (NYSE:SLF – Get Rating) (TSE:SLF) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,809 shares of the financial services provider’s stock after acquiring an additional 2,304 shares during the period. Commonwealth Equity Services LLC’s holdings in Sun Life Financial were worth $2,544,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Metis Global Partners LLC boosted its stake in Sun Life Financial by 75.5% during the 4th quarter. Metis Global Partners LLC now owns 33,006 shares of the financial services provider’s stock valued at $1,532,000 after purchasing an additional 14,200 shares during the last quarter. Symphony Financial Ltd. Co. boosted its stake in Sun Life Financial by 120.4% during the 4th quarter. Symphony Financial Ltd. Co. now owns 56,898 shares of the financial services provider’s stock valued at $2,704,000 after purchasing an additional 31,078 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in Sun Life Financial during the 4th quarter valued at about $363,000. Signaturefd LLC lifted its stake in Sun Life Financial by 21.7% during the 3rd quarter. Signaturefd LLC now owns 16,944 shares of the financial services provider’s stock valued at $674,000 after acquiring an additional 3,022 shares during the period. Finally, West Family Investments Inc. bought a new position in Sun Life Financial during the 3rd quarter valued at about $329,000. Hedge funds and other institutional investors own 44.94% of the company’s stock.

Sun Life Financial Stock Performance

Shares of NYSE SLF opened at $49.26 on Tuesday. Sun Life Financial Inc. has a 52-week low of $37.96 and a 52-week high of $51.63. The firm’s fifty day moving average is $47.19 and its two-hundred day moving average is $47.34. The company has a market cap of $28.90 billion, a P/E ratio of 12.76, a P/E/G ratio of 1.14 and a beta of 1.00.

Sun Life Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Wednesday, May 31st will be given a dividend of $0.554 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $2.22 dividend on an annualized basis and a yield of 4.50%. Sun Life Financial’s dividend payout ratio (DPR) is presently 57.25%.

Wall Street Analyst Weigh In

Several research firms have issued reports on SLF. Scotiabank upped their target price on shares of Sun Life Financial from C$71.00 to C$75.00 in a research note on Friday, February 10th. CIBC cut shares of Sun Life Financial from an “outperform” rating to a “neutral” rating in a research note on Thursday, February 9th. They noted that the move was a valuation call. Credit Suisse Group increased their price objective on shares of Sun Life Financial from C$74.00 to C$75.00 in a research note on Friday, February 10th. Desjardins upped their price objective on Sun Life Financial from C$73.00 to C$75.00 in a research note on Friday, February 10th. Finally, Royal Bank of Canada raised Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Monday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Sun Life Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.78.

Sun Life Financial Profile

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Sun Life Financial, Inc engages in the provision of insurance and asset management solutions to individual and corporate clients. It operates through the following segments: Canada, United States, Asset Management, Asia, and Corporate. The Canada segment offers individual insurance and group benefits and retirement services.