6,542 Shares in Sun Life Financial Inc. $SLF Purchased by West Family Investments Inc.

West Family Investments Inc. purchased a new stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the second quarter, Holdings Channel.com reports. The firm purchased 6,542 shares of the financial services provider’s stock, valued at approximately $513,000.

Several other large investors have also recently bought and sold shares of the business. Cassaday & Co Wealth Management LLC acquired a new position in shares of Sun Life Financial in the 1st quarter valued at about $25,000. Cornerstone Planning Group LLC raised its holdings in shares of Sun Life Financial by 68.4% during the 4th quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 167 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of Sun Life Financial during the 4th quarter valued at about $30,000. Sittner & Nelson LLC bought a new stake in Sun Life Financial during the fourth quarter worth approximately $33,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of Sun Life Financial in the first quarter worth $33,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Trading Down 1.0%

NYSE SLF opened at $79.59 on Thursday. Sun Life Financial Inc. has a 1-year low of $57.22 and a 1-year high of $84.38. The company has a market capitalization of $44.36 billion, a price-to-earnings ratio of 18.60 and a beta of 0.88. The stock’s 50 day moving average is $80.11 and its two-hundred day moving average is $72.02.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.07. The business had revenue of $10.10 billion during the quarter, compared to analysts’ expectations of $994.33 million. Sun Life Financial had a return on equity of 17.96% and a net margin of 7.66%. On average, analysts predict that Sun Life Financial Inc. will post 5.72 earnings per share for the current year.

Sun Life Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Wednesday, August 26th will be given a dividend of $0.96 per share. The ex-dividend date is Wednesday, August 26th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.8%. Sun Life Financial’s dividend payout ratio (DPR) is 66.12%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SLF. Scotiabank reissued a “sector perform” rating on shares of Sun Life Financial in a research report on Monday, August 10th. BMO Capital Markets restated an “outperform” rating on shares of Sun Life Financial in a report on Friday, May 8th. TD Cowen reiterated a “buy” rating on shares of Sun Life Financial in a research note on Thursday, May 7th. Wall Street Zen raised Sun Life Financial from a “sell” rating to a “hold” rating in a report on Sunday, July 26th. Finally, Argus set a $81.00 target price on Sun Life Financial in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $96.33.

About Sun Life Financial

Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.

Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.