Headlands Technologies LLC Purchases New Shares in Sun Life Financial Inc. (NYSE:SLF)

Headlands Technologies LLC purchased a new stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 827 shares of the financial services provider’s stock, valued at approximately $43,000.

A number of other institutional investors have also recently added to or reduced their stakes in SLF. Headinvest LLC acquired a new stake in Sun Life Financial in the 3rd quarter valued at $39,000. RIA Advisory Group LLC acquired a new stake in Sun Life Financial in the 4th quarter valued at $39,000. Legacy Financial Group LLC acquired a new stake in Sun Life Financial in the 3rd quarter valued at $40,000. HHM Wealth Advisors LLC acquired a new stake in Sun Life Financial during the 3rd quarter worth $62,000. Finally, Pacifica Partners Inc. boosted its stake in Sun Life Financial by 83.5% during the 4th quarter. Pacifica Partners Inc. now owns 1,288 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 586 shares during the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Stock Up 0.9 %

Shares of SLF opened at $51.49 on Thursday. Sun Life Financial Inc. has a 52-week low of $44.57 and a 52-week high of $55.46. The firm’s fifty day moving average is $53.28 and its two-hundred day moving average is $51.41. The stock has a market cap of $29.99 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 1.27 and a beta of 1.00.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Wednesday, February 7th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.06. Sun Life Financial had a net margin of 7.79% and a return on equity of 17.30%. The company had revenue of $13.73 billion for the quarter. As a group, research analysts anticipate that Sun Life Financial Inc. will post 5.03 earnings per share for the current year.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.581 per share. This represents a $2.32 annualized dividend and a dividend yield of 4.51%. The ex-dividend date of this dividend was Tuesday, February 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.56. Sun Life Financial’s payout ratio is currently 59.79%.

Analyst Ratings Changes

Separately, Jefferies Financial Group initiated coverage on shares of Sun Life Financial in a research note on Thursday, February 22nd. They set a “buy” rating on the stock.

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.