Clean Yield Group Makes New $39,000 Investment in Sun Life Financial Inc. (NYSE:SLF)

Clean Yield Group purchased a new stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 676 shares of the financial services provider’s stock, valued at approximately $39,000.

A number of other institutional investors also recently modified their holdings of the business. CANADA LIFE ASSURANCE Co grew its stake in shares of Sun Life Financial by 3.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 630,708 shares of the financial services provider’s stock worth $34,474,000 after buying an additional 23,235 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Sun Life Financial by 20.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,620,801 shares of the financial services provider’s stock valued at $84,055,000 after purchasing an additional 275,334 shares during the last quarter. Cetera Investment Advisers grew its holdings in Sun Life Financial by 108.3% during the 1st quarter. Cetera Investment Advisers now owns 64,240 shares of the financial services provider’s stock worth $3,506,000 after acquiring an additional 33,401 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of Sun Life Financial by 372.8% during the fourth quarter. Public Sector Pension Investment Board now owns 731,780 shares of the financial services provider’s stock valued at $38,137,000 after acquiring an additional 577,015 shares during the last quarter. Finally, Twin Tree Management LP lifted its holdings in shares of Sun Life Financial by 249.8% during the first quarter. Twin Tree Management LP now owns 274,119 shares of the financial services provider’s stock worth $14,961,000 after purchasing an additional 195,745 shares during the period. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Stock Performance

NYSE:SLF opened at $57.33 on Wednesday. Sun Life Financial Inc. has a 52 week low of $44.57 and a 52 week high of $58.51. The firm’s fifty day moving average is $53.90 and its 200-day moving average is $51.84. The firm has a market cap of $33.24 billion, a P/E ratio of 14.66, a P/E/G ratio of 1.49 and a beta of 1.00.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Monday, August 12th. The financial services provider reported $1.25 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $6.72 billion. As a group, sell-side 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 announced 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. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $2.35 annualized dividend and a yield of 4.10%. Sun Life Financial’s dividend payout ratio is currently 59.85%.

Analysts Set New Price Targets

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

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.