Hsbc Holdings PLC Boosts Stake in Sun Life Financial Inc. $SLF

Hsbc Holdings PLC lifted its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 8.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,800,087 shares of the financial services provider’s stock after buying an additional 133,442 shares during the period. Hsbc Holdings PLC owned approximately 0.32% of Sun Life Financial worth $119,880,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SLF. Benjamin Edwards Inc. boosted its position in Sun Life Financial by 3.4% in the first quarter. Benjamin Edwards Inc. now owns 5,052 shares of the financial services provider’s stock worth $289,000 after purchasing an additional 167 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of Sun Life Financial by 0.4% during the 1st quarter. Public Sector Pension Investment Board now owns 55,447 shares of the financial services provider’s stock worth $3,173,000 after purchasing an additional 200 shares during the period. Westside Investment Management Inc. raised its stake in shares of Sun Life Financial by 62.8% during the 2nd quarter. Westside Investment Management Inc. now owns 578 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 223 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Sun Life Financial by 2.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 10,444 shares of the financial services provider’s stock worth $683,000 after buying an additional 224 shares during the last quarter. Finally, Addison Advisors LLC grew its position in Sun Life Financial by 48.8% during the second quarter. Addison Advisors LLC now owns 704 shares of the financial services provider’s stock valued at $47,000 after buying an additional 231 shares during the period. 52.26% of the stock is owned by hedge funds and other institutional investors.

Sun Life Financial Stock Up 0.8%

NYSE SLF opened at $59.12 on Friday. The firm has a market cap of $32.94 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90. The company’s 50 day moving average is $60.23 and its 200-day moving average is $61.24. Sun Life Financial Inc. has a 12-month low of $52.44 and a 12-month high of $66.81.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.30 by $0.05. Sun Life Financial had a net margin of 7.59% and a return on equity of 17.21%. The company had revenue of $944.53 million during the quarter, compared to the consensus estimate of $944.53 million. During the same period last year, the firm earned $2.33 EPS. Equities analysts expect that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, November 26th will be paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date is Wednesday, November 26th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.64. Sun Life Financial’s dividend payout ratio is presently 69.41%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SLF shares. Weiss Ratings restated a “buy (b)” rating on shares of Sun Life Financial in a report on Wednesday, October 8th. Royal Bank Of Canada reissued a “sector perform” rating and set a $84.00 target price on shares of Sun Life Financial in a research report on Monday, November 10th. Cibc Captl Mkts cut shares of Sun Life Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 29th. UBS Group initiated coverage on Sun Life Financial in a research note on Thursday, October 16th. They issued a “neutral” rating on the stock. Finally, Barclays reissued an “underweight” rating on shares of Sun Life Financial in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $86.50.

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.