Sun Life Financial Inc. (NYSE:SLF) Shares Purchased by JustInvest LLC

JustInvest LLC increased its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 20.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,243 shares of the financial services provider’s stock after purchasing an additional 1,225 shares during the quarter. JustInvest LLC’s holdings in Sun Life Financial were worth $373,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Huntington National Bank increased its position in shares of Sun Life Financial by 7.6% during the 3rd quarter. Huntington National Bank now owns 2,528 shares of the financial services provider’s stock worth $130,000 after purchasing an additional 179 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of Sun Life Financial by 5.0% during the 3rd quarter. Lindbrook Capital LLC now owns 4,024 shares of the financial services provider’s stock worth $207,000 after purchasing an additional 192 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Sun Life Financial by 1.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 13,740 shares of the financial services provider’s stock worth $707,000 after purchasing an additional 202 shares during the last quarter. Vident Investment Advisory LLC increased its position in shares of Sun Life Financial by 0.5% during the 2nd quarter. Vident Investment Advisory LLC now owns 55,977 shares of the financial services provider’s stock worth $2,890,000 after purchasing an additional 253 shares during the last quarter. Finally, Unison Advisors LLC increased its position in shares of Sun Life Financial by 0.7% during the 3rd quarter. Unison Advisors LLC now owns 41,125 shares of the financial services provider’s stock worth $2,116,000 after purchasing an additional 302 shares during the last quarter. 46.88% of the stock is owned by hedge funds and other institutional investors.

Several research firms have weighed in on SLF. lifted their target price on Sun Life Financial from C$75.00 to C$79.50 and gave the company a “buy” rating in a research report on Friday, November 5th. National Bank Financial lifted their target price on Sun Life Financial from C$71.00 to C$73.00 and gave the company an “outperform” rating in a research report on Tuesday, October 5th. CIBC lifted their price objective on Sun Life Financial from C$74.00 to C$81.00 and gave the company an “outperform” rating in a research note on Friday, November 5th. Royal Bank of Canada lifted their price objective on Sun Life Financial from C$71.00 to C$74.00 and gave the company a “sector perform” rating in a research note on Friday, November 5th. Finally, Scotiabank boosted their target price on Sun Life Financial from C$77.00 to C$78.00 and gave the stock an “outperform” rating in a research note on Friday, November 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $72.95.

NYSE:SLF opened at $57.50 on Friday. The firm has a market cap of $33.70 billion, a P/E ratio of 11.86, a PEG ratio of 1.23 and a beta of 1.04. The stock’s 50 day simple moving average is $55.16 and its 200-day simple moving average is $53.54. Sun Life Financial Inc. has a 12-month low of $45.84 and a 12-month high of $57.93.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Wednesday, November 3rd. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.03. The business had revenue of $6.76 billion for the quarter. Sun Life Financial had a return on equity of 14.10% and a net margin of 10.69%. On average, analysts expect that Sun Life Financial Inc. will post 4.74 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 31st. Stockholders of record on Wednesday, November 24th were issued a $0.444 dividend. The ex-dividend date was Tuesday, November 23rd. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.09%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.44. Sun Life Financial’s payout ratio is presently 43.92%.

About Sun Life Financial

Sun Life Financial, Inc operates as a holding company. The firm engages in the provision of financial services. It operates through the following segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate. The Sun Life Financial Canada segment offers individual insurance and wealth, and group benefits and retirement services.

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Institutional Ownership by Quarter for Sun Life Financial (NYSE:SLF)

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