Envestnet Asset Management Inc. Boosts Stock Holdings in Sun Life Financial Inc. $SLF

Envestnet Asset Management Inc. boosted its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 12.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,472 shares of the financial services provider’s stock after buying an additional 2,613 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Sun Life Financial were worth $1,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC purchased a new stake in Sun Life Financial in the 4th quarter worth about $244,000. Allianz Asset Management GmbH increased its stake in shares of Sun Life Financial by 94.4% in the first quarter. Allianz Asset Management GmbH now owns 740,391 shares of the financial services provider’s stock worth $42,368,000 after purchasing an additional 359,539 shares in the last quarter. HighPoint Advisor Group LLC raised its position in shares of Sun Life Financial by 4.4% in the first quarter. HighPoint Advisor Group LLC now owns 4,330 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 181 shares during the period. Ninepoint Partners LP lifted its stake in shares of Sun Life Financial by 4.2% during the 1st quarter. Ninepoint Partners LP now owns 62,925 shares of the financial services provider’s stock valued at $3,603,000 after buying an additional 2,540 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Sun Life Financial by 21.6% in the 1st quarter. Cetera Investment Advisers now owns 62,856 shares of the financial services provider’s stock worth $3,599,000 after buying an additional 11,161 shares during the period. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Down 0.9%

Shares of NYSE SLF opened at $58.70 on Thursday. The stock’s 50-day simple moving average is $60.28 and its two-hundred day simple moving average is $61.33. Sun Life Financial Inc. has a twelve month low of $52.44 and a twelve month high of $66.81. The firm has a market capitalization of $32.78 billion, a P/E ratio of 14.53, a P/E/G ratio of 1.67 and a beta of 0.90.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.30 by $0.05. The company had revenue of $944.53 million during 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 previous year, the firm earned $2.33 earnings per share. As a group, research analysts anticipate that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, November 26th will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend is Wednesday, November 26th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.64. Sun Life Financial’s payout ratio is currently 69.41%.

Analysts Set New Price Targets

Several research firms have issued reports on SLF. National Bank Financial downgraded Sun Life Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 7th. TD Securities upgraded Sun Life Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, October 7th. Morgan Stanley set a $89.00 price objective on Sun Life Financial in a report on Tuesday, October 7th. Argus raised Sun Life Financial to a “strong-buy” rating in a report on Thursday, September 4th. Finally, Evercore ISI reiterated an “outperform” rating on shares of Sun Life Financial in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $86.50.

About Sun Life Financial

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.