Jones Collombin Investment Counsel Inc increased its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 20.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,826 shares of the financial services provider’s stock after buying an additional 475 shares during the period. Jones Collombin Investment Counsel Inc’s holdings in Sun Life Financial were worth $101,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of SLF. TD Asset Management Inc. raised its stake in shares of Sun Life Financial by 1.7% in the second quarter. TD Asset Management Inc. now owns 20,568,078 shares of the financial services provider’s stock worth $734,224,000 after buying an additional 351,938 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Sun Life Financial by 4.8% in the first quarter. Vanguard Group Inc. now owns 13,072,396 shares of the financial services provider’s stock worth $477,796,000 after buying an additional 593,878 shares during the last quarter. Beutel Goodman & Co Ltd. raised its stake in shares of Sun Life Financial by 50.7% in the second quarter. Beutel Goodman & Co Ltd. now owns 9,170,839 shares of the financial services provider’s stock worth $327,474,000 after buying an additional 3,083,485 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Sun Life Financial by 3.9% in the first quarter. Great West Life Assurance Co. Can now owns 7,106,558 shares of the financial services provider’s stock worth $259,051,000 after buying an additional 267,690 shares during the last quarter. Finally, Bank of Nova Scotia raised its stake in shares of Sun Life Financial by 1.2% in the first quarter. Bank of Nova Scotia now owns 7,024,399 shares of the financial services provider’s stock worth $256,508,000 after buying an additional 81,565 shares during the last quarter. 43.01% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Sun Life Financial Inc. (SLF) opened at 37.46 on Friday. 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 has a 50-day moving average price of $36.91 and a 200 day moving average price of $36.18. Sun Life Financial Inc. has a 12-month low of $30.38 and a 12-month high of $40.57.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings data 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 return on equity of 13.32% and a net margin of 12.48%. The company had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $7.36 billion. During the same period last year, the firm posted $0.90 earnings per share. The business’s revenue was down 14.8% on a year-over-year basis. Equities research analysts expect that Sun Life Financial Inc. will post $3.15 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Wednesday, August 30th will be given 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 dividend payout ratio (DPR) is presently 40.06%.

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

COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by Watch List News and is the sole property of of Watch List News. If you are reading this piece of content on another website, it was copied illegally and reposted in violation of US and international trademark and copyright legislation. The original version of this piece of content can be read at https://www.watchlistnews.com/jones-collombin-investment-counsel-inc-has-101000-stake-in-sun-life-financial-inc-slf/1474495.html.

A number of equities research analysts have commented on SLF shares. Zacks Investment Research upgraded Sun Life Financial from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Tuesday, April 25th. Credit Suisse Group lowered Sun Life Financial from an “outperform” rating to a “neutral” rating in a research report on Wednesday, May 10th. National Bank Financial restated an “outperform overweight” rating on shares of Sun Life Financial in a research report on Tuesday, May 9th. ValuEngine lowered Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Royal Bank Of Canada upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating and set a $51.00 price objective for the company in a research report on Wednesday, June 7th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Sun Life Financial currently has a consensus rating of “Hold” and a consensus price target 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.

Want to see what other hedge funds are holding SLF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF).

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

Receive News & Ratings for Sun Life Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Life Financial Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.