International Assets Investment Management LLC Invests $963,000 in Sun Life Financial Inc. (NYSE:SLF)

International Assets Investment Management LLC acquired a new stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 16,594 shares of the financial services provider’s stock, valued at approximately $963,000.

Other large investors have also bought and sold shares of the company. Signaturefd LLC lifted its position in Sun Life Financial by 5.6% during the third quarter. Signaturefd LLC now owns 25,319 shares of the financial services provider’s stock valued at $1,469,000 after purchasing an additional 1,348 shares during the period. Blue Trust Inc. lifted its position in shares of Sun Life Financial by 123.7% in the third quarter. Blue Trust Inc. now owns 7,661 shares of the financial services provider’s stock valued at $444,000 after acquiring an additional 4,237 shares in the last quarter. Well Done LLC bought a new position in Sun Life Financial in the 3rd quarter worth approximately $216,000. Heathbridge Capital Management Ltd. bought a new stake in Sun Life Financial in the 3rd quarter valued at $244,000. Finally, Creative Planning lifted its position in shares of Sun Life Financial by 1.2% in the third quarter. Creative Planning now owns 48,558 shares of the financial services provider’s stock worth $2,817,000 after buying an additional 590 shares in the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

Sun Life Financial Stock Up 0.1 %

Shares of NYSE SLF opened at $55.68 on Tuesday. Sun Life Financial Inc. has a twelve month low of $46.41 and a twelve month high of $58.51. The business has a fifty day simple moving average of $56.46 and a two-hundred day simple moving average of $52.39. The firm has a market cap of $35.08 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings results on Monday, August 12th. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $6.72 billion. On average, research analysts expect 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 declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Wednesday, August 28th were issued a $0.587 dividend. This represents a $2.35 annualized dividend and a yield of 4.22%. The ex-dividend date was Wednesday, August 28th. Sun Life Financial’s payout ratio is 60.57%.

Wall Street Analyst Weigh In

Separately, Barclays began coverage on Sun Life Financial in a research report on Thursday, September 5th. They issued 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.