HBK Sorce Advisory LLC Takes $1.51 Million Position in Sun Life Financial Inc. $SLF

HBK Sorce Advisory LLC purchased a new stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the 2nd quarter, Holdings Channel reports. The fund purchased 18,460 shares of the financial services provider’s stock, valued at approximately $1,511,000.

A number of other institutional investors also recently bought and sold shares of SLF. Cassaday & Co Wealth Management LLC purchased a new position in Sun Life Financial during the first quarter worth $25,000. Cornerstone Planning Group LLC raised its stake in shares of 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 valued at $26,000 after acquiring an additional 167 shares during the period. Brown Brothers Harriman & Co. bought a new stake in shares of Sun Life Financial in the 4th quarter worth about $30,000. Sittner & Nelson LLC bought a new stake in shares of Sun Life Financial in the 4th quarter worth about $33,000. Finally, Scarborough Advisors LLC purchased a new position in shares of Sun Life Financial during the 1st quarter worth about $33,000. 52.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SLF has been the topic of several analyst reports. BMO Capital Markets reiterated an “outperform” rating on shares of Sun Life Financial in a report on Friday, May 8th. TD Cowen reissued a “buy” rating on shares of Sun Life Financial in a research note on Thursday, May 7th. Weiss Ratings upgraded Sun Life Financial from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, August 11th. TD Securities reaffirmed a “buy” rating on shares of Sun Life Financial in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded Sun Life Financial from a “sell” rating to a “hold” rating in a report on Sunday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.33.

Sun Life Financial Trading Down 0.0%

Shares of SLF opened at $81.33 on Monday. The firm has a fifty day moving average price of $79.74 and a 200-day moving average price of $71.66. The firm has a market capitalization of $45.33 billion, a P/E ratio of 19.01 and a beta of 0.88. Sun Life Financial Inc. has a 12-month low of $57.22 and a 12-month high of $84.38.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Thursday, August 6th. The financial services provider reported $1.46 EPS for the quarter, topping the consensus estimate of $1.39 by $0.07. Sun Life Financial had a net margin of 7.66% and a return on equity of 17.96%. The company had revenue of $10.10 billion for the quarter, compared to the consensus estimate of $994.33 million. Analysts predict that Sun Life Financial Inc. will post 5.72 earnings per share for the current year.

Sun Life Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Wednesday, August 26th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.7%. Sun Life Financial’s dividend payout ratio (DPR) is 66.12%.

Sun Life Financial Profile

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.