Cambridge Investment Research Advisors Inc. Boosts Stock Holdings in Sun Life Financial Inc. (NYSE:SLF)

Cambridge Investment Research Advisors Inc. increased its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 5.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,289 shares of the financial services provider’s stock after purchasing an additional 651 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Sun Life Financial were worth $621,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital City Trust Co. FL raised its holdings in Sun Life Financial by 4.3% during the first quarter. Capital City Trust Co. FL now owns 4,793 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 197 shares in the last quarter. Wetherby Asset Management Inc. raised its holdings in Sun Life Financial by 1.4% during the fourth quarter. Wetherby Asset Management Inc. now owns 21,775 shares of the financial services provider’s stock worth $968,000 after purchasing an additional 307 shares in the last quarter. Unison Advisors LLC raised its holdings in Sun Life Financial by 0.8% during the first quarter. Unison Advisors LLC now owns 40,523 shares of the financial services provider’s stock worth $2,048,000 after purchasing an additional 311 shares in the last quarter. Signaturefd LLC raised its holdings in Sun Life Financial by 4.4% during the fourth quarter. Signaturefd LLC now owns 11,044 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 463 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. purchased a new position in Sun Life Financial during the first quarter worth about $25,000. 47.28% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have issued reports on SLF shares. Canaccord Genuity increased their target price on shares of Sun Life Financial from $69.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, April 28th. CIBC increased their target price on shares of Sun Life Financial from $69.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, May 7th. Scotiabank increased their target price on shares of Sun Life Financial from $70.00 to $76.00 and gave the company an “outperform” rating in a report on Thursday, April 29th. TD Securities dropped their target price on shares of Sun Life Financial from $76.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, May 6th. Finally, Zacks Investment Research cut shares of Sun Life Financial from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a report on Tuesday, May 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $68.10.

SLF stock opened at $52.91 on Friday. The firm has a 50 day simple moving average of $53.22. The firm has a market capitalization of $30.98 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 1.36 and a beta of 1.06. Sun Life Financial Inc. has a 12 month low of $35.18 and a 12 month high of $55.07.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Wednesday, May 5th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.06. Sun Life Financial had a net margin of 8.04% and a return on equity of 14.09%. The firm had revenue of $1.20 billion for the quarter. On average, analysts predict that Sun Life Financial Inc. will post 4.43 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Wednesday, May 26th will be given a dividend of $0.4487 per share. The ex-dividend date is Tuesday, May 25th. This represents a $1.79 dividend on an annualized basis and a yield of 3.39%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.43. Sun Life Financial’s dividend payout ratio (DPR) is 20.00%.

About Sun Life Financial

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. It offers term and permanent life, as well as health, dental, critical illness, long-term care, and disability insurance products. The company also provides reinsurance products; investment counselling and portfolio management services; mutual funds and segregated funds; trust and banking services; real estate property brokerage and appraisal services; and merchant banking services.

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

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