Pathway Financial Advisers LLC Acquires 1,831 Shares of Sun Life Financial Inc. (NYSE:SLF)

Pathway Financial Advisers LLC increased its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 7.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,337 shares of the financial services provider’s stock after purchasing an additional 1,831 shares during the period. Pathway Financial Advisers LLC’s holdings in Sun Life Financial were worth $1,240,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SLF. Voisard Asset Management Group Inc. acquired a new position in Sun Life Financial in the 4th quarter valued at $26,000. GAMMA Investing LLC boosted its holdings in 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 period. Ridgewood Investments LLC bought a new position in shares of Sun Life Financial during the 2nd quarter worth about $39,000. Fairfield Financial Advisors LTD bought a new position in Sun Life Financial during the second quarter valued at about $43,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in Sun Life Financial in the 1st quarter valued at approximately $76,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Stock Performance

Shares of SLF stock opened at $58.03 on Tuesday. Sun Life Financial Inc. has a 52 week low of $44.57 and a 52 week high of $58.49. The stock has a market capitalization of $33.64 billion, a PE ratio of 14.84, a PEG ratio of 1.48 and a beta of 1.00. The stock’s fifty day moving average is $53.07 and its 200-day moving average is $51.73.

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

Sun Life Financial Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Wednesday, August 28th were given a dividend of $0.587 per share. This represents a $2.35 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend was Wednesday, August 28th. Sun Life Financial’s dividend payout ratio is 59.85%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SLF shares. Argus raised shares of Sun Life Financial to a “strong-buy” rating in a report on Monday, June 3rd. Barclays started coverage on Sun Life Financial in a research note 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.