Purpose Unlimited Inc. purchased a new stake in shares of Sun Life Financial Inc. (NYSE:SLF – Free Report) (TSE:SLF) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 211,161 shares of the financial services provider’s stock, valued at approximately $13,182,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Planning Group LLC increased its stake in shares of Sun Life Financial by 68.4% in the fourth quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 167 shares in the last quarter. HB Wealth Management LLC lifted its stake in shares of Sun Life Financial by 5.1% during the 4th quarter. HB Wealth Management LLC now owns 3,971 shares of the financial services provider’s stock valued at $248,000 after buying an additional 194 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Sun Life Financial by 1.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,916 shares of the financial services provider’s stock worth $824,000 after buying an additional 222 shares during the period. OneDigital Investment Advisors LLC boosted its holdings in Sun Life Financial by 7.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,357 shares of the financial services provider’s stock worth $202,000 after buying an additional 246 shares during the period. Finally, Huntington National Bank increased its stake in Sun Life Financial by 9.6% in the 3rd quarter. Huntington National Bank now owns 3,010 shares of the financial services provider’s stock worth $181,000 after buying an additional 264 shares in the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.
Sun Life Financial Stock Performance
Shares of NYSE:SLF opened at $78.95 on Friday. The firm has a fifty day moving average price of $72.10 and a 200 day moving average price of $66.25. Sun Life Financial Inc. has a fifty-two week low of $56.22 and a fifty-two week high of $78.98. The firm has a market cap of $43.76 billion, a price-to-earnings ratio of 20.35 and a beta of 0.89.
Sun Life Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, May 27th will be given a dividend of $0.96 per share. The ex-dividend date is Wednesday, May 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.92. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.9%. Sun Life Financial’s dividend payout ratio (DPR) is 72.94%.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the company. BMO Capital Markets reissued an “outperform” rating on shares of Sun Life Financial in a report on Friday, May 8th. National Bank Financial raised Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research note on Friday, April 24th. Scotiabank reiterated a “sector perform” rating on shares of Sun Life Financial in a research report on Wednesday, April 29th. TD Cowen reiterated a “buy” rating on shares of Sun Life Financial in a research report on Thursday, May 7th. Finally, Argus set a $81.00 target price on Sun Life Financial in a research note on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.67.
Check Out Our Latest Research Report on SLF
Sun Life Financial Company Profile
Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.
Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.
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