Raymond James Financial Inc. Buys Shares of 68,656 Sun Life Financial Inc. (NYSE:SLF)

Raymond James Financial Inc. bought a new position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 68,656 shares of the financial services provider’s stock, valued at approximately $4,074,000.

Other hedge funds also recently modified their holdings of the company. Human Investing LLC bought a new stake in Sun Life Financial in the fourth quarter worth $26,000. Asset Planning Inc acquired a new stake in shares of Sun Life Financial in the fourth quarter worth about $40,000. BankPlus Trust Department bought a new stake in shares of Sun Life Financial during the 4th quarter worth about $40,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Sun Life Financial during the 4th quarter valued at about $45,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Sun Life Financial in the 3rd quarter valued at approximately $51,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. StockNews.com downgraded Sun Life Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Cormark upgraded shares of Sun Life Financial from a “hold” rating to a “moderate buy” rating in a research note on Thursday, February 13th. Finally, National Bank Financial upgraded shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Sun Life Financial currently has an average rating of “Moderate Buy”.

Sun Life Financial Stock Down 0.8 %

SLF opened at $57.16 on Thursday. The stock’s 50 day moving average price is $56.77 and its two-hundred day moving average price is $57.93. The firm has a market capitalization of $35.73 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04. Sun Life Financial Inc. has a 12-month low of $46.41 and a 12-month high of $62.85.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.30. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. As a group, analysts anticipate that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Wednesday, February 26th will be given a $0.5876 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $2.35 annualized dividend and a yield of 4.11%. Sun Life Financial’s dividend payout ratio is 60.16%.

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.