Hsbc Holdings PLC grew its holdings in shares of Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 36.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 101,118 shares of the financial services provider’s stock after acquiring an additional 27,173 shares during the period. Hsbc Holdings PLC’s holdings in Sun Life Financial were worth $3,356,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in SLF. Bremer Trust National Association bought a new position in Sun Life Financial during the fourth quarter worth $28,000. Enlightenment Research LLC bought a new position in Sun Life Financial during the fourth quarter worth $33,000. Lindbrook Capital LLC bought a new position in Sun Life Financial during the fourth quarter worth $36,000. We Are One Seven LLC bought a new position in Sun Life Financial during the fourth quarter worth $53,000. Finally, Proficio Capital Partners LLC raised its stake in Sun Life Financial by 308.0% during the fourth quarter. Proficio Capital Partners LLC now owns 1,636 shares of the financial services provider’s stock worth $54,000 after buying an additional 1,235 shares during the last quarter. 40.84% of the stock is owned by hedge funds and other institutional investors.
SLF opened at $38.32 on Monday. Sun Life Financial Inc has a 1-year low of $31.49 and a 1-year high of $43.99. The firm has a market capitalization of $22.93 billion, a price-to-earnings ratio of 10.22 and a beta of 0.86.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Wednesday, February 13th. The financial services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.32. Sun Life Financial had a net margin of 9.71% and a return on equity of 13.83%. The firm had revenue of $8.18 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. The business’s revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts predict that Sun Life Financial Inc will post 3.77 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 1st will be paid a $0.381 dividend. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.38. This represents a $1.52 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Thursday, February 28th. Sun Life Financial’s payout ratio is 40.53%.
A number of brokerages recently weighed in on SLF. Zacks Investment Research downgraded shares of Sun Life Financial from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. Canaccord Genuity reissued a “hold” rating on shares of Sun Life Financial in a research note on Tuesday, February 5th. Scotiabank reissued a “hold” rating and set a $54.00 target price on shares of Sun Life Financial in a research note on Wednesday, February 20th. CIBC downgraded shares of Sun Life Financial from a “neutral” rating to an “underperform” rating and lifted their target price for the stock from $53.00 to $54.00 in a research note on Thursday. Finally, Argus raised shares of Sun Life Financial from a “hold” rating to a “buy” rating in a research note on Monday, December 31st. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $52.20.
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Sun Life Financial Profile
Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.
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