Kraematon Investment Advisors Inc. Sells 1,329 Shares of Sun Life Financial Inc. (NYSE:SLF)

Kraematon Investment Advisors Inc. reduced its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 3.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,094 shares of the financial services provider’s stock after selling 1,329 shares during the period. Sun Life Financial comprises approximately 2.5% of Kraematon Investment Advisors Inc.’s investment portfolio, making the stock its 10th largest position. Kraematon Investment Advisors Inc.’s holdings in Sun Life Financial were worth $2,468,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SLF. Vanguard Group Inc. boosted its position in Sun Life Financial by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 24,233,496 shares of the financial services provider’s stock worth $1,438,888,000 after buying an additional 197,887 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Sun Life Financial by 2.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 9,454,589 shares of the financial services provider’s stock valued at $562,121,000 after acquiring an additional 198,205 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Sun Life Financial by 10.8% in the 4th quarter. CIBC Asset Management Inc now owns 7,192,059 shares of the financial services provider’s stock valued at $427,712,000 after acquiring an additional 703,391 shares in the last quarter. Norges Bank acquired a new stake in Sun Life Financial in the 4th quarter valued at $382,176,000. Finally, Geode Capital Management LLC grew its position in Sun Life Financial by 30.6% in the 4th quarter. Geode Capital Management LLC now owns 3,467,275 shares of the financial services provider’s stock valued at $210,080,000 after purchasing an additional 812,689 shares during the period. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Sun Life Financial Stock Up 0.0%

Shares of SLF opened at $65.23 on Friday. The business’s 50-day moving average price is $59.98 and its 200-day moving average price is $58.77. The stock has a market cap of $36.76 billion, a PE ratio of 16.99, a P/E/G ratio of 1.52 and a beta of 0.92. Sun Life Financial Inc. has a twelve month low of $46.41 and a twelve month high of $65.56.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.05. The company had revenue of $7.91 billion for the quarter, compared to analysts’ expectations of $6.44 billion. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. During the same period in the prior year, the business earned $1.40 earnings per share. Analysts expect that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Wednesday, May 28th will be given a dividend of $0.6332 per share. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.59. This represents a $2.53 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date is Wednesday, May 28th. Sun Life Financial’s dividend payout ratio (DPR) is presently 64.89%.

Analyst Upgrades and Downgrades

SLF has been the topic of a number of analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of Sun Life Financial in a report on Thursday, May 1st. BMO Capital Markets reissued an “outperform” rating on shares of Sun Life Financial in a report on Monday, May 12th. Cormark raised shares of Sun Life Financial from a “hold” rating to a “moderate buy” rating in a report on Thursday, February 13th. Finally, Royal Bank of Canada upped their price objective on shares of Sun Life Financial from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Monday, May 12th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

Sun Life Financial Profile

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.