Two Sigma Advisers LP Lowers Stock Position in Sun Life Financial Inc. (NYSE:SLF)

Two Sigma Advisers LP lessened its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 4.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 440,232 shares of the financial services provider’s stock after selling 20,900 shares during the period. Two Sigma Advisers LP’s holdings in Sun Life Financial were worth $26,123,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Human Investing LLC acquired a new position in Sun Life Financial in the 4th quarter valued at $26,000. Asset Planning Inc purchased a new stake in shares of Sun Life Financial in the fourth quarter valued at about $40,000. BankPlus Trust Department acquired a new position in shares of Sun Life Financial during the fourth quarter worth about $40,000. GeoWealth Management LLC raised its holdings in Sun Life Financial by 4,657.1% during the fourth quarter. GeoWealth Management LLC now owns 999 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 978 shares in the last quarter. Finally, JFS Wealth Advisors LLC lifted its position in Sun Life Financial by 432.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,032 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 838 shares during the period. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Price Performance

Shares of NYSE:SLF opened at $63.45 on Wednesday. The business’s 50 day simple moving average is $58.05 and its 200-day simple moving average is $58.35. The firm has a market capitalization of $35.83 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. Sun Life Financial Inc. has a 12 month low of $46.41 and a 12 month high of $63.78.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.05. The business had revenue of $7.91 billion during the quarter, compared to analysts’ expectations of $6.44 billion. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. During the same quarter last year, the business posted $1.40 earnings per share. On average, equities analysts anticipate that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Wednesday, May 28th will be issued a dividend of $0.6332 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. This represents a $2.53 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend is Wednesday, May 28th. Sun Life Financial’s dividend payout ratio (DPR) is 62.09%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SLF. BMO Capital Markets reiterated an “outperform” rating on shares of Sun Life Financial in a research report on Monday, May 12th. StockNews.com lowered Sun Life Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Royal Bank of Canada increased their price objective on Sun Life Financial from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Monday, May 12th. Cormark upgraded shares of Sun Life Financial from a “hold” rating to a “moderate buy” rating in a research report on Thursday, February 13th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Sun Life Financial in a research note on Thursday, May 1st. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Sun Life Financial Profile

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.