Swiss National Bank cut its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 4.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,374,900 shares of the financial services provider’s stock after selling 107,000 shares during the period. Swiss National Bank owned about 0.39% of Sun Life Financial worth $84,915,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. boosted 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 during the period. Stifel Financial Corp boosted 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 during the period. Wetherby Asset Management Inc. boosted its position in shares of Sun Life Financial by 4.3% in the second quarter. Wetherby Asset Management Inc. now owns 7,773 shares of the financial services provider’s stock worth $278,000 after buying an additional 317 shares during the period. Janney Montgomery Scott LLC boosted 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 during the period. Finally, Jones Collombin Investment Counsel Inc boosted its position in shares of Sun Life Financial by 20.2% in the second 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 during the period. Hedge funds and other institutional investors own 40.92% of the company’s stock.

Sun Life Financial Inc. (NYSE SLF) opened at 38.88 on Friday. The stock has a market cap of $23.86 billion, a PE ratio of 11.74 and a beta of 0.86. The company’s 50-day moving average price is $38.20 and its 200-day moving average price is $36.11. 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 issued its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.09. The company had revenue of $8.12 billion during the quarter, compared to analyst estimates of $7.36 billion. Sun Life Financial had a return on equity of 13.29% and a net margin of 12.48%. The firm’s revenue for the quarter was down 14.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.90 earnings per share. On average, equities analysts expect that Sun Life Financial Inc. will post $3.26 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Wednesday, August 30th will be given a $0.3439 dividend. This represents a $1.38 annualized dividend and a yield of 3.54%. This is a positive change 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 is presently 43.85%.

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

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A number of brokerages have recently commented on SLF. BidaskClub upgraded Sun Life Financial from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Zacks Investment Research upgraded Sun Life Financial from a “sell” rating to a “buy” rating and set a $40.00 target price for the company in a report on Wednesday, July 12th. ValuEngine cut Sun Life Financial from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. National Bank Financial reiterated an “outperform overweight” rating on shares of Sun Life Financial in a report on Tuesday, May 9th. Finally, Bank of America Corporation upgraded Sun Life Financial from an “underperform” rating to a “hold” rating in a report on Monday, July 10th. Eight investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $45.80.

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.

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

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