Park Avenue Securities LLC Makes New $580,000 Investment in Sun Life Financial Inc. (NYSE:SLF)

Park Avenue Securities LLC acquired a new position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,627 shares of the financial services provider’s stock, valued at approximately $580,000.

Other institutional investors have also added to or reduced their stakes in the company. Voisard Asset Management Group Inc. bought a new stake in Sun Life Financial in the 4th quarter worth about $26,000. Northwest Financial Advisors bought a new stake in Sun Life Financial in the 4th quarter worth about $29,000. RIA Advisory Group LLC bought a new stake in Sun Life Financial in the 4th quarter worth about $39,000. Private Wealth Management Group LLC bought a new position in shares of Sun Life Financial during the 4th quarter valued at approximately $41,000. Finally, Headinvest LLC bought a new position in shares of Sun Life Financial during the 3rd quarter valued at approximately $39,000. 52.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Argus raised shares of Sun Life Financial to a “strong-buy” rating in a research report on Monday, June 3rd.

Sun Life Financial Trading Up 0.1 %

Shares of SLF stock opened at $48.99 on Friday. The stock has a market capitalization of $28.40 billion, a P/E ratio of 12.53, a PEG ratio of 1.24 and a beta of 1.00. The firm’s 50 day moving average is $50.29 and its 200 day moving average is $51.76. Sun Life Financial Inc. has a 12 month low of $44.57 and a 12 month high of $55.46.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Thursday, May 9th. The financial services provider reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.09). The business had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $7.25 billion. Sun Life Financial had a net margin of 8.94% and a return on equity of 16.97%. On average, equities analysts predict that Sun Life Financial Inc. will post 4.88 EPS for the current year.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Wednesday, May 29th were paid a dividend of $0.588 per share. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.58. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date of this dividend was Wednesday, May 29th. Sun Life Financial’s dividend payout ratio is presently 60.10%.

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.