Syon Capital LLC Acquires 2,358 Shares of Sun Life Financial Inc. (NYSE:SLF)

Syon Capital LLC grew its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 48.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,223 shares of the financial services provider’s stock after purchasing an additional 2,358 shares during the period. Syon Capital LLC’s holdings in Sun Life Financial were worth $375,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Headinvest LLC purchased a new position in Sun Life Financial in the 3rd quarter valued at approximately $39,000. RIA Advisory Group LLC purchased a new position in shares of Sun Life Financial in the fourth quarter valued at $39,000. Legacy Financial Group LLC bought a new stake in shares of Sun Life Financial during the 3rd quarter valued at $40,000. HHM Wealth Advisors LLC purchased a new stake in Sun Life Financial during the 3rd quarter worth about $62,000. Finally, Pacifica Partners Inc. boosted its stake in Sun Life Financial by 83.5% in the 4th quarter. Pacifica Partners Inc. now owns 1,288 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 586 shares during the period. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Sun Life Financial Stock Performance

Sun Life Financial stock opened at $51.71 on Friday. Sun Life Financial Inc. has a fifty-two week low of $44.57 and a fifty-two week high of $55.46. The stock has a market cap of $30.12 billion, a P/E ratio of 13.33, a PEG ratio of 1.27 and a beta of 1.01. The firm’s fifty day moving average price is $53.44 and its 200-day moving average price is $51.35.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its earnings results on Wednesday, February 7th. The financial services provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.17 by $0.06. Sun Life Financial had a return on equity of 17.30% and a net margin of 7.79%. The business had revenue of $13.73 billion during the quarter. Sell-side analysts predict that Sun Life Financial Inc. will post 5.06 earnings per share for the current year.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, February 28th were paid a $0.581 dividend. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.56. This represents a $2.32 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date was Tuesday, February 27th. Sun Life Financial’s dividend payout ratio (DPR) is currently 59.79%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group began coverage on shares of Sun Life Financial in a report on Thursday, February 22nd. They issued a “buy” rating on the stock.

About Sun Life Financial

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.