Sun Life Financial Inc. $SLF Shares Acquired by Laurel Wealth Advisors LLC

Laurel Wealth Advisors LLC increased its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 6,545.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,297 shares of the financial services provider’s stock after purchasing an additional 11,127 shares during the period. Laurel Wealth Advisors LLC’s holdings in Sun Life Financial were worth $751,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Private Trust Co. NA lifted its holdings in Sun Life Financial by 130.6% during the 2nd quarter. Private Trust Co. NA now owns 429 shares of the financial services provider’s stock worth $29,000 after buying an additional 243 shares during the last quarter. Westside Investment Management Inc. raised its position in shares of Sun Life Financial by 62.8% during the 2nd quarter. Westside Investment Management Inc. now owns 578 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 223 shares in the last quarter. Tobam acquired a new stake in shares of Sun Life Financial during the 2nd quarter valued at approximately $44,000. Addison Advisors LLC lifted its stake in Sun Life Financial by 48.8% during the second quarter. Addison Advisors LLC now owns 704 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 231 shares during the last quarter. Finally, MAI Capital Management lifted its stake in Sun Life Financial by 121.8% during the second quarter. MAI Capital Management now owns 896 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 492 shares during the last quarter. 52.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

SLF has been the topic of a number of research reports. Argus raised shares of Sun Life Financial to a “strong-buy” rating in a report on Thursday, September 4th. UBS Group initiated coverage on shares of Sun Life Financial in a research report on Thursday, October 16th. They set a “neutral” rating for the company. National Bankshares reissued a “sector perform” rating on shares of Sun Life Financial in a report on Thursday, November 6th. National Bank Financial lowered Sun Life Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. Finally, TD Securities raised Sun Life Financial from a “hold” rating to a “buy” rating in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Sun Life Financial has a consensus rating of “Hold” and an average target price of $86.50.

Sun Life Financial Trading Up 0.8%

SLF opened at $59.12 on Friday. The business’s 50 day moving average is $60.23 and its 200-day moving average is $61.24. The stock has a market cap of $32.94 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90. Sun Life Financial Inc. has a twelve month low of $52.44 and a twelve month high of $66.81.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its earnings results on Wednesday, November 5th. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.30 by $0.05. Sun Life Financial had a return on equity of 17.21% and a net margin of 7.59%.The firm had revenue of $944.53 million for the quarter, compared to analysts’ expectations of $944.53 million. During the same period last year, the firm earned $2.33 EPS. As a group, analysts forecast that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, November 26th will be issued a $0.92 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.64. This represents a $3.68 annualized dividend and a yield of 6.2%. Sun Life Financial’s dividend payout ratio is currently 69.41%.

Sun Life Financial Company 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.