MUFG Securities EMEA plc decreased its position in Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 3.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,080,000 shares of the financial services provider’s stock after selling 65,200 shares during the period. Sun Life Financial comprises approximately 0.9% of MUFG Securities EMEA plc’s portfolio, making the stock its 18th biggest holding. MUFG Securities EMEA plc owned about 0.35% of Sun Life Financial worth $86,029,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of SLF. Asset Planning Services Ltd. purchased a new stake in Sun Life Financial during the 2nd quarter valued at $27,000. Bremer Bank National Association purchased a new stake in shares of Sun Life Financial during the first quarter worth about $34,000. Parallel Advisors LLC boosted its holdings in shares of Sun Life Financial by 113.1% during the second quarter. Parallel Advisors LLC now owns 827 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 439 shares during the period. Avestar Capital LLC boosted its holdings in shares of Sun Life Financial by 1,058.6% during the first quarter. Avestar Capital LLC now owns 1,344 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 1,228 shares during the period. Finally, Zions Bancorporation N.A. bought a new stake in shares of Sun Life Financial in the first quarter worth about $53,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.
A number of brokerages recently issued reports on SLF. Evercore ISI restated an “outperform” rating on shares of Sun Life Financial in a report on Monday, July 22nd. Barclays reiterated a “hold” rating on shares of Sun Life Financial in a research report on Monday, August 26th. ValuEngine cut Sun Life Financial from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Argus boosted their target price on Sun Life Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Finally, Zacks Investment Research upgraded Sun Life Financial from a “sell” rating to a “hold” rating and set a $45.00 target price for the company in a report on Thursday, July 4th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $51.50.
Shares of SLF traded up $0.15 during trading hours on Tuesday, reaching $43.21. 271,449 shares of the company traded hands, compared to its average volume of 498,840. Sun Life Financial Inc has a 12 month low of $31.49 and a 12 month high of $43.14. The company’s fifty day moving average price is $40.65 and its two-hundred day moving average price is $40.09. The company has a market capitalization of $25.51 billion, a price-to-earnings ratio of 11.52 and a beta of 0.90.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.30. Sun Life Financial had a net margin of 6.83% and a return on equity of 13.37%. The company had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the firm earned $1.20 earnings per share. Equities analysts anticipate that Sun Life Financial Inc will post 3.81 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Wednesday, August 28th will be issued a dividend of $0.401 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.38. The ex-dividend date is Tuesday, August 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.71%. Sun Life Financial’s dividend payout ratio is 42.40%.
Sun Life Financial Company Profile
Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.
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