Financial Engines Advisors L.L.C. cut its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 5.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,176 shares of the financial services provider’s stock after selling 784 shares during the period. Financial Engines Advisors L.L.C.’s holdings in Sun Life Financial were worth $507,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bronfman E.L. Rothschild L.P. increased its position in shares of Sun Life Financial by 0.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,587 shares of the financial services provider’s stock worth $131,000 after buying an additional 17 shares in the last quarter. Rational Advisors LLC increased its position in shares of Sun Life Financial by 14.3% in the first quarter. Rational Advisors LLC now owns 4,538 shares of the financial services provider’s stock worth $166,000 after buying an additional 567 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Sun Life Financial during the first quarter worth approximately $194,000. Stifel Financial Corp increased its position in shares of Sun Life Financial by 1.8% in the first quarter. Stifel Financial Corp now owns 5,811 shares of the financial services provider’s stock worth $209,000 after buying an additional 102 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Sun Life Financial by 7.9% in the second quarter. Janney Montgomery Scott LLC now owns 6,126 shares of the financial services provider’s stock worth $219,000 after buying an additional 450 shares in the last quarter. 43.01% of the stock is currently owned by institutional investors and hedge funds.

Shares of Sun Life Financial Inc. (SLF) opened at 37.46 on Friday. Sun Life Financial Inc. has a 12-month low of $30.38 and a 12-month high of $40.57. The firm has a market capitalization of $22.99 billion, a price-to-earnings ratio of 11.62 and a beta of 0.88. The company’s 50-day moving average is $36.91 and its 200-day moving average is $36.18.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.09. Sun Life Financial had a net margin of 12.48% and a return on equity of 13.32%. The business had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $7.36 billion. During the same period in the previous year, the company earned $0.90 earnings per share. Sun Life Financial’s revenue for the quarter was down 14.8% on a year-over-year basis. On average, equities analysts forecast that Sun Life Financial Inc. will post $3.15 earnings per share for the current fiscal year.

Sun Life Financial announced that its Board of Directors has authorized a share buyback program on Wednesday, August 9th that permits the company to repurchase 11,500,000 shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Wednesday, August 30th will be paid a $0.3439 dividend. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.67%. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Monday, August 28th. Sun Life Financial’s payout ratio is presently 40.06%.

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A number of brokerages have recently commented on SLF. Zacks Investment Research raised shares of Sun Life Financial from a “sell” rating to a “hold” rating in a research note on Thursday, June 1st. National Bank Financial reissued an “outperform overweight” rating on shares of Sun Life Financial in a research note on Tuesday, May 9th. Credit Suisse Group downgraded shares of Sun Life Financial from an “outperform” rating to a “neutral” rating in a research note on Wednesday, May 10th. BidaskClub raised shares of Sun Life Financial from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, ValuEngine lowered shares of Sun Life Financial from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $45.83.

Sun Life Financial Company Profile

Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services company providing a range of insurance, wealth and asset management solutions to individuals and corporate Clients. It operates through five segments. The Sun Life Financial Canada segment provides retail insurance and investment advice, products and services to people across Canada.

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

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