Sun Life Financial Inc. $SLF Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 2.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 606,981 shares of the financial services provider’s stock after acquiring an additional 15,671 shares during the period. Bank of New York Mellon Corp’s holdings in Sun Life Financial were worth $40,334,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SLF. Private Trust Co. NA lifted its position in shares of Sun Life Financial by 130.6% in the second quarter. Private Trust Co. NA now owns 429 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 243 shares in the last quarter. Westside Investment Management Inc. grew its holdings in shares of Sun Life Financial by 62.8% in the second quarter. Westside Investment Management Inc. now owns 578 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 223 shares during the period. Investment Management Corp VA ADV grew its stake in shares of Sun Life Financial by 164.5% in the 1st quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider’s stock valued at $35,000 after buying an additional 385 shares during the period. Clean Yield Group grew its position in Sun Life Financial by 36.8% in the second quarter. Clean Yield Group now owns 925 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 249 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of Sun Life Financial by 295.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,116 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 834 shares during the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

Sun Life Financial Trading Up 2.0%

Sun Life Financial stock opened at $59.12 on Thursday. The company has a fifty day simple moving average of $60.20 and a 200-day simple moving average of $61.34. The stock has a market cap of $33.01 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90. Sun Life Financial Inc. has a 12-month low of $52.44 and a 12-month high of $66.81.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its earnings results on Wednesday, November 5th. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.30 by $0.05. The firm had revenue of $944.53 million for the quarter, compared to analyst estimates of $944.53 million. Sun Life Financial had a return on equity of 17.21% and a net margin of 7.59%.During the same quarter in the prior year, the company posted $2.33 earnings per share. As a group, sell-side analysts forecast that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, November 26th will be paid a dividend of $0.92 per share. The ex-dividend date is Wednesday, November 26th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.64. This represents a $3.68 annualized dividend and a yield of 6.2%. Sun Life Financial’s dividend payout ratio (DPR) is presently 69.41%.

Wall Street Analysts Forecast Growth

SLF has been the topic of a number of research analyst reports. TD Securities raised shares of Sun Life Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, October 7th. Royal Bank Of Canada restated a “sector perform” rating and set a $84.00 price target on shares of Sun Life Financial in a research note on Monday. Cibc Captl Mkts lowered Sun Life Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Scotiabank upgraded Sun Life Financial to a “hold” rating in a report on Thursday, July 31st. Finally, National Bankshares restated a “sector perform” rating on shares of Sun Life Financial in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $86.50.

Sun Life Financial Company Profile

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.