Fmr LLC Has $120.82 Million Position in Sun Life Financial Inc (SLF)
Fmr LLC increased its stake in shares of Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 3.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,641,962 shares of the financial services provider’s stock after acquiring an additional 130,867 shares during the period. Fmr LLC’s holdings in Sun Life Financial were worth $120,820,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of SLF. Bremer Trust National Association purchased a new position in Sun Life Financial during the fourth quarter worth approximately $28,000. Enlightenment Research LLC purchased a new position in shares of Sun Life Financial in the fourth quarter valued at approximately $33,000. Lindbrook Capital LLC purchased a new position in shares of Sun Life Financial in the fourth quarter valued at approximately $36,000. Lake Point Wealth Management purchased a new position in shares of Sun Life Financial in the fourth quarter valued at approximately $47,000. Finally, We Are One Seven LLC purchased a new position in shares of Sun Life Financial in the fourth quarter valued at approximately $53,000. 41.23% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on SLF. Zacks Investment Research downgraded Sun Life Financial from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. CIBC downgraded Sun Life Financial from a “neutral” rating to an “underperform” rating and raised their target price for the company from $53.00 to $54.00 in a research report on Thursday, March 14th. ValuEngine upgraded Sun Life Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Scotiabank restated a “hold” rating and issued a $54.00 target price on shares of Sun Life Financial in a research report on Wednesday, February 20th. Finally, Canaccord Genuity reiterated a “hold” rating on shares of Sun Life Financial in a research report on Tuesday, February 5th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Sun Life Financial currently has an average rating of “Hold” and a consensus price target of $51.25.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings data on Wednesday, February 13th. The financial services provider reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.32. Sun Life Financial had a return on equity of 13.83% and a net margin of 9.71%. The firm had revenue of $8.18 billion for the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter last year, the business posted $1.05 earnings per share. The firm’s revenue was down 5.4% compared to the same quarter last year. As a group, analysts forecast that Sun Life Financial Inc will post 3.77 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were given a dividend of $0.381 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, February 28th. This represents a $1.52 dividend on an annualized basis and a yield of 3.86%. Sun Life Financial’s dividend payout ratio (DPR) is presently 40.53%.
Sun Life Financial Company Profile
Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.
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