Sun Life Financial Inc. (NYSE:SLF) Shares Bought by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 0.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,501,888 shares of the financial services provider’s stock after acquiring an additional 10,429 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.26% of Sun Life Financial worth $82,001,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

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

Sun Life Financial Price Performance

NYSE:SLF opened at $49.46 on Friday. The firm has a market cap of $28.67 billion, a PE ratio of 12.65, a P/E/G ratio of 1.27 and a beta of 0.99. Sun Life Financial Inc. has a 1-year low of $44.57 and a 1-year high of $55.46. The firm has a 50 day simple moving average of $50.13 and a 200-day simple moving average of $51.70.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Thursday, May 9th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.09). The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $7.25 billion. Sun Life Financial had a return on equity of 16.97% and a net margin of 8.94%. As a group, sell-side analysts expect that Sun Life Financial Inc. will post 4.88 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Wednesday, May 29th were paid a dividend of $0.588 per share. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.76%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.58. Sun Life Financial’s dividend payout ratio is currently 60.10%.

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.