Raymond James Financial Services Advisors Inc. reduced its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 10.8% during the first quarter, Holdings Channel reports. The firm owned 8,552 shares of the financial services provider’s stock after selling 1,037 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Sun Life Financial were worth $312,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. increased its stake in Sun Life Financial by 103.1% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,789 shares of the financial services provider’s stock worth $107,000 after buying an additional 1,416 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake in 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. Rational Advisors LLC increased its position in shares of Sun Life Financial by 14.3% in the first quarter. Rational Advisors LLC now owns 4,538 shares of the financial services provider’s stock valued at $166,000 after buying an additional 567 shares during the last quarter. Tyers Asset Management LLC purchased a new position in shares of Sun Life Financial during the fourth quarter valued at $171,000. Finally, Advisory Services Network LLC purchased a new position in shares of Sun Life Financial during the first quarter valued at $194,000. 42.79% of the stock is owned by institutional investors.
Shares of Sun Life Financial Inc. (NYSE SLF) opened at 34.56 on Tuesday. Sun Life Financial Inc. has a 12-month low of $30.38 and a 12-month high of $40.57. The stock has a market cap of $21.21 billion, a PE ratio of 11.51 and a beta of 0.89. The firm has a 50-day moving average price of $33.90 and a 200 day moving average price of $36.72.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Wednesday, May 31st will be issued a dividend of $0.3164 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend is Friday, May 26th. Sun Life Financial’s dividend payout ratio is 41.23%.
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SLF has been the subject of several analyst reports. Zacks Investment Research raised shares of Sun Life Financial from a “sell” rating to a “hold” rating in a research note on Thursday, March 2nd. Royal Bank Of Canada raised shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating and set a $51.00 target price for the company in a research note on Wednesday, June 7th. Credit Suisse Group downgraded shares of Sun Life Financial from an “outperform” rating to a “neutral” rating in a research note on Wednesday, May 10th. National Bank Financial reissued an “outperform overweight” rating on shares of Sun Life Financial in a research note on Tuesday, May 9th. Finally, ValuEngine downgraded shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $45.17.
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.
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