Pathway Financial Advisers LLC Has $1.51 Million Holdings in Sun Life Financial Inc. (NYSE:SLF)

Pathway Financial Advisers LLC increased its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 2.4% during the third quarter, HoldingsChannel.com reports. The firm owned 25,952 shares of the financial services provider’s stock after buying an additional 615 shares during the period. Pathway Financial Advisers LLC’s holdings in Sun Life Financial were worth $1,506,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its stake in shares of Sun Life Financial by 0.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 62,589 shares of the financial services provider’s stock valued at $3,635,000 after buying an additional 200 shares in the last quarter. JCIC Asset Management Inc. raised its position in Sun Life Financial by 4.3% in the third quarter. JCIC Asset Management Inc. now owns 106,346 shares of the financial services provider’s stock worth $6,168,000 after purchasing an additional 4,390 shares in the last quarter. International Assets Investment Management LLC bought a new position in Sun Life Financial during the third quarter worth about $963,000. Signaturefd LLC boosted its holdings in Sun Life Financial by 5.6% during the third quarter. Signaturefd LLC now owns 25,319 shares of the financial services provider’s stock valued at $1,469,000 after purchasing an additional 1,348 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Sun Life Financial by 123.7% in the 3rd quarter. Blue Trust Inc. now owns 7,661 shares of the financial services provider’s stock valued at $444,000 after purchasing an additional 4,237 shares during the period. 52.26% of the stock is owned by institutional investors.

Sun Life Financial Stock Performance

SLF opened at $56.40 on Friday. The firm has a market cap of $32.70 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 1.45 and a beta of 1.00. The firm’s 50-day simple moving average is $56.13 and its 200-day simple moving average is $52.16. Sun Life Financial Inc. has a twelve month low of $44.57 and a twelve month high of $58.51.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings data on Monday, August 12th. The financial services provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. Sun Life Financial had a net margin of 8.60% and a return on equity of 17.47%. The firm had revenue of $6.52 billion for the quarter, compared to analysts’ expectations of $6.72 billion. As a group, sell-side analysts anticipate that Sun Life Financial Inc. will post 4.88 EPS for the current fiscal year.

Sun Life Financial Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Wednesday, August 28th were paid a $0.587 dividend. This represents a $2.35 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date was Wednesday, August 28th. Sun Life Financial’s dividend payout ratio is currently 59.85%.

Analyst Ratings Changes

Separately, Barclays assumed coverage on Sun Life Financial in a research report on Thursday, September 5th. They set an “equal weight” rating for the company.

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.