Bank of New York Mellon Corp grew its position in Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 2.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 917,708 shares of the financial services provider’s stock after buying an additional 20,777 shares during the period. Bank of New York Mellon Corp’s holdings in Sun Life Financial were worth $37,865,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Independence Bank of Kentucky acquired a new position in shares of Sun Life Financial in the 4th quarter valued at $117,000. Pinnacle Associates Ltd. acquired a new position in shares of Sun Life Financial in the 3rd quarter valued at $225,000. First National Trust Co. acquired a new position in shares of Sun Life Financial in the 3rd quarter valued at $308,000. Dean Capital Investments Management LLC acquired a new position in shares of Sun Life Financial in the 4th quarter valued at $378,000. Finally, Beacon Investment Advisory Services Inc. acquired a new position in Sun Life Financial in the 3rd quarter worth $375,000. 42.36% of the stock is owned by institutional investors.
Sun Life Financial Inc (NYSE:SLF) opened at $42.46 on Tuesday. The firm has a market cap of $25,930.00, a price-to-earnings ratio of 15.67, a P/E/G ratio of 1.67 and a beta of 0.90. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.06 and a quick ratio of 5.06. Sun Life Financial Inc has a one year low of $32.22 and a one year high of $44.50.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 1st will be given a dividend of $0.3617 per share. The ex-dividend date is Wednesday, February 28th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.36. This represents a $1.45 annualized dividend and a yield of 3.41%. Sun Life Financial’s payout ratio is 53.87%.
A number of brokerages recently weighed in on SLF. BMO Capital Markets raised shares of Sun Life Financial from a “market perform” rating to an “outperform” rating in a research note on Friday, February 16th. Zacks Investment Research raised shares of Sun Life Financial from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Wednesday, January 10th. Scotiabank raised shares of Sun Life Financial from a “sector perform” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Wednesday, January 31st. Finally, TD Securities raised shares of Sun Life Financial from a “hold” rating to a “buy” rating in a research note on Monday, January 15th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $52.67.
Sun Life Financial Profile
Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services company providing a range of insurance, wealth and asset management solutions to individuals and corporate Clients. It operates through five segments. The Sun Life Financial Canada segment provides retail insurance and investment advice, products and services to people across Canada.
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