Guardian Capital Advisors LP increased its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 1.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 263,762 shares of the financial services provider’s stock after purchasing an additional 4,674 shares during the quarter. Sun Life Financial accounts for about 1.8% of Guardian Capital Advisors LP’s holdings, making the stock its 10th largest holding. Guardian Capital Advisors LP’s holdings in Sun Life Financial were worth $12,394,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jones Collombin Investment Counsel Inc increased its stake in Sun Life Financial by 20.2% during the 2nd quarter. Jones Collombin Investment Counsel Inc now owns 2,826 shares of the financial services provider’s stock worth $101,000 after buying an additional 475 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in Sun Life Financial by 24.8% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,475 shares of the financial services provider’s stock worth $160,000 after buying an additional 888 shares in the last quarter. Captrust Financial Advisors purchased a new stake in Sun Life Financial during the 2nd quarter worth approximately $162,000. Stifel Financial Corp increased its stake in Sun Life Financial by 1.8% during the 1st 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 stake in Sun Life Financial by 7.9% during the 2nd 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. 40.90% of the stock is owned by institutional investors.

Sun Life Financial Inc. (NYSE:SLF) traded down 0.18% during midday trading on Friday, hitting $39.82. The stock had a trading volume of 499,602 shares. The stock has a 50-day moving average price of $38.43 and a 200 day moving average price of $36.17. Sun Life Financial Inc. has a 12-month low of $31.42 and a 12-month high of $40.57. The firm has a market cap of $24.44 billion, a P/E ratio of 11.52 and a beta of 0.86.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating 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 13.29%. The company had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $7.36 billion. During the same period last year, the firm earned $0.90 EPS. The company’s revenue for the quarter was down 14.8% on a year-over-year basis. On average, equities analysts anticipate that Sun Life Financial Inc. will post $3.31 earnings per share for the current fiscal year.

Sun Life Financial announced that its board has initiated a share buyback plan on Wednesday, August 9th that authorizes the company to buyback 11,500,000 shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Wednesday, August 30th were given a dividend of $0.3439 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.45%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.32. The ex-dividend date was Monday, August 28th. Sun Life Financial’s dividend payout ratio (DPR) is presently 43.85%.

Several equities research analysts have commented on SLF shares. ValuEngine upgraded Sun Life Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. BidaskClub upgraded Sun Life Financial from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Zacks Investment Research upgraded Sun Life Financial from a “sell” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Wednesday, July 12th. TD Securities boosted their price objective on Sun Life Financial from $50.00 to $51.00 and gave the stock a “hold” rating in a research note on Thursday, August 10th. Finally, Bank of America Corporation upgraded Sun Life Financial from an “underperform” rating to a “hold” rating in a research note on Monday, July 10th. Nine analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $45.80.

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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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