Northwestern Mutual Wealth Management Co. Has $1.64 Million Stake in Sun Life Financial Inc. (NYSE:SLF)

Northwestern Mutual Wealth Management Co. boosted its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,507 shares of the financial services provider’s stock after purchasing an additional 426 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Sun Life Financial were worth $1,642,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Verdence Capital Advisors LLC increased its stake in shares of Sun Life Financial by 1.8% in the second quarter. Verdence Capital Advisors LLC now owns 12,160 shares of the financial services provider’s stock valued at $596,000 after buying an additional 219 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of Sun Life Financial by 2.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 10,302 shares of the financial services provider’s stock worth $562,000 after purchasing an additional 221 shares during the period. Burney Co. boosted its stake in shares of Sun Life Financial by 0.3% in the 1st quarter. Burney Co. now owns 89,252 shares of the financial services provider’s stock valued at $4,871,000 after purchasing an additional 238 shares during the last quarter. Claret Asset Management Corp increased its position in shares of Sun Life Financial by 3.4% during the first quarter. Claret Asset Management Corp now owns 8,334 shares of the financial services provider’s stock worth $455,000 after buying an additional 272 shares during the period. Finally, PDS Planning Inc raised its stake in Sun Life Financial by 6.2% during the first quarter. PDS Planning Inc now owns 5,245 shares of the financial services provider’s stock worth $286,000 after buying an additional 308 shares during the last quarter. 52.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Barclays began coverage on Sun Life Financial in a report on Thursday, September 5th. They set an “equal weight” rating for the company.

Sun Life Financial Stock Up 1.3 %

Shares of SLF stock opened at $58.31 on Friday. The firm has a 50 day moving average of $53.74 and a 200-day moving average of $51.84. The company has a market cap of $33.65 billion, a price-to-earnings ratio of 14.91, a price-to-earnings-growth ratio of 1.49 and a beta of 1.00. Sun Life Financial Inc. has a 52 week low of $44.57 and a 52 week high of $58.51.

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

Sun Life Financial Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Wednesday, August 28th were paid a dividend of $0.587 per share. This represents a $2.35 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date was Wednesday, August 28th. Sun Life Financial’s dividend payout ratio (DPR) 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.