MQS Management LLC Purchases Shares of 11,100 Sun Life Financial Inc. (NYSE:SLF)

MQS Management LLC acquired a new position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,100 shares of the financial services provider’s stock, valued at approximately $544,000.

Other institutional investors have also modified their holdings of the company. Voisard Asset Management Group Inc. purchased a new stake in Sun Life Financial in the fourth quarter valued at $26,000. GAMMA Investing LLC lifted 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 purchasing an additional 562 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in shares of Sun Life Financial in the 2nd quarter valued at about $39,000. Fairfield Financial Advisors LTD purchased a new position in Sun Life Financial during the 2nd quarter worth approximately $43,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in Sun Life Financial during the first quarter worth approximately $76,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Down 0.0 %

Shares of NYSE:SLF opened at $56.40 on Thursday. Sun Life Financial Inc. has a fifty-two week low of $44.57 and a fifty-two week high of $56.93. The firm’s 50-day simple moving average is $51.92 and its 200-day simple moving average is $51.59. The company has a market cap of $32.70 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 1.44 and a beta of 1.00.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings data on Monday, August 12th. The financial services provider reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.72 billion. On average, research analysts forecast that Sun Life Financial Inc. will post 4.86 EPS for the current year.

Sun Life Financial Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Wednesday, August 28th will be paid a $0.587 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.16%. Sun Life Financial’s dividend payout ratio (DPR) is presently 59.85%.

Analyst Upgrades and Downgrades

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

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.