Ladenburg Thalmann Financial Services Inc. decreased its position in Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 14.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,841 shares of the financial services provider’s stock after selling 644 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Sun Life Financial were worth $160,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of SLF. Asset Planning Services Ltd. bought a new position in Sun Life Financial in the 2nd quarter worth about $27,000. Parallel Advisors LLC grew its position in Sun Life Financial by 113.1% in the 2nd quarter. Parallel Advisors LLC now owns 827 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 439 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Sun Life Financial by 514.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 921 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 771 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in Sun Life Financial in the 2nd quarter worth about $65,000. Finally, TRUE Private Wealth Advisors bought a new position in Sun Life Financial in the 2nd quarter worth about $80,000. Hedge funds and other institutional investors own 40.30% of the company’s stock.
NYSE SLF opened at $44.98 on Tuesday. Sun Life Financial Inc has a 52 week low of $31.49 and a 52 week high of $45.14. The stock has a market cap of $26.20 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 1.32 and a beta of 0.91. The company has a 50-day moving average price of $43.69 and a two-hundred day moving average price of $41.32.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.30. The business had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Sun Life Financial had a net margin of 6.83% and a return on equity of 13.37%. During the same period last year, the firm posted $1.20 earnings per share. As a group, equities research analysts anticipate that Sun Life Financial Inc will post 3.77 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, August 28th were issued a $0.401 dividend. The ex-dividend date was Tuesday, August 27th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a dividend yield of 3.57%. Sun Life Financial’s dividend payout ratio (DPR) is 42.40%.
Several research analysts have commented on the stock. ValuEngine cut shares of Sun Life Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. BMO Capital Markets set a $60.00 target price on shares of Sun Life Financial and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Zacks Investment Research upgraded shares of Sun Life Financial from a “sell” rating to a “hold” rating and set a $45.00 target price for the company in a research report on Thursday, July 4th. Evercore ISI restated an “outperform” rating on shares of Sun Life Financial in a research report on Monday, July 22nd. Finally, Argus upped their target price on shares of Sun Life Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $53.00.
About Sun Life Financial
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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