8,996 Shares in Sun Life Financial Inc. $SLF Bought by Diversify Wealth Management LLC

Diversify Wealth Management LLC bought a new stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the first quarter, Holdings Channel reports. The institutional investor bought 8,996 shares of the financial services provider’s stock, valued at approximately $563,000.

Several other institutional investors have also made changes to their positions in SLF. Cornerstone Planning Group LLC raised its position in Sun Life Financial by 68.4% in the fourth quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 167 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of Sun Life Financial in the 4th quarter valued at approximately $30,000. Sittner & Nelson LLC bought a new stake in shares of Sun Life Financial in the 4th quarter worth about $33,000. Manchester Capital Management LLC bought a new position in shares of Sun Life Financial in the fourth quarter valued at approximately $49,000. Finally, LOM Asset Management Ltd bought a new stake in shares of Sun Life Financial during the fourth quarter worth $53,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Sun Life Financial Trading Up 0.2%

Shares of NYSE:SLF opened at $81.82 on Friday. The firm has a 50 day moving average of $75.86 and a 200-day moving average of $68.91. Sun Life Financial Inc. has a 12 month low of $56.22 and a 12 month high of $82.25. The stock has a market capitalization of $45.60 billion, a PE ratio of 21.09 and a beta of 0.88.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.38 EPS for the quarter, beating the consensus estimate of $1.35 by $0.03. Sun Life Financial had a net margin of 7.85% and a return on equity of 17.80%. The business had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $925.99 million. During the same period in the previous year, the business earned $1.82 earnings per share. On average, research analysts predict that Sun Life Financial Inc. will post 5.69 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Wednesday, May 27th were issued a dividend of $0.96 per share. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $3.84 annualized dividend and a dividend yield of 4.7%. Sun Life Financial’s payout ratio is presently 72.68%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SLF shares. TD Cowen reissued a “buy” rating on shares of Sun Life Financial in a report on Thursday, May 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Sun Life Financial in a report on Monday, July 6th. National Bank Financial upgraded shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Friday, April 24th. Barclays reiterated an “underweight” rating on shares of Sun Life Financial in a research note on Tuesday, July 7th. Finally, Scotiabank reissued a “sector perform” rating on shares of Sun Life Financial in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $84.67.

About Sun Life Financial

Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.

Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.