Caprock Group LLC Buys Shares of 5,339 Sun Life Financial Inc. (NYSE:SLF)

Caprock Group LLC bought a new stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,339 shares of the financial services provider’s stock, valued at approximately $262,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SLF. Voisard Asset Management Group Inc. purchased a new stake in shares of Sun Life Financial in the 4th quarter valued at $26,000. GAMMA Investing LLC raised its holdings in shares of Sun Life Financial by 6,244.4% in the 2nd quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock valued at $28,000 after buying an additional 562 shares during the period. Ridgewood Investments LLC purchased a new stake in shares of Sun Life Financial in the 2nd quarter valued at $39,000. Private Wealth Management Group LLC purchased a new stake in shares of Sun Life Financial in the 4th quarter valued at $41,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Sun Life Financial in the 1st quarter valued at $76,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on SLF shares. Argus raised Sun Life Financial to a “strong-buy” rating in a research note on Monday, June 3rd. Barclays started coverage on Sun Life Financial in a research note on Thursday, September 5th. They set an “equal weight” rating for the company.

Sun Life Financial Price Performance

SLF opened at $56.08 on Friday. Sun Life Financial Inc. has a 12 month low of $44.57 and a 12 month high of $56.16. The stock has a market capitalization of $32.39 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 1.42 and a beta of 1.00. The business has a fifty day moving average price of $51.49 and a 200 day moving average price of $51.54.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Monday, August 12th. The financial services provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. Sun Life Financial had a return on equity of 17.47% and a net margin of 8.60%. The firm had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.72 billion. On average, research analysts anticipate that Sun Life Financial Inc. will post 4.86 earnings per share for the current year.

Sun Life Financial Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Wednesday, August 28th will be given a dividend of $0.587 per share. The ex-dividend date is Wednesday, August 28th. This represents a $2.35 annualized dividend and a dividend yield of 4.19%. Sun Life Financial’s dividend payout ratio is currently 60.10%.

About Sun Life Financial

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.