Sun Life Financial Inc. (NYSE:SLF) Shares Acquired by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV boosted its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 24.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,505 shares of the financial services provider’s stock after purchasing an additional 492 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Sun Life Financial were worth $123,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SLF. Voisard Asset Management Group Inc. purchased a new position in Sun Life Financial in the 4th quarter valued at approximately $26,000. GAMMA Investing LLC increased its stake 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 in the last quarter. Northwest Financial Advisors purchased a new position in Sun Life Financial in the 4th quarter valued at approximately $29,000. RIA Advisory Group LLC purchased a new position in Sun Life Financial in the 4th quarter valued at approximately $39,000. Finally, Private Wealth Management Group LLC purchased a new position in Sun Life Financial in the 4th quarter valued at approximately $41,000. 52.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Argus raised Sun Life Financial to a “strong-buy” rating in a research note on Monday, June 3rd.

Sun Life Financial Stock Up 1.0 %

Shares of SLF stock traded up $0.47 during mid-day trading on Tuesday, hitting $47.54. 453,331 shares of the company’s stock were exchanged, compared to its average volume of 703,470. The stock has a market cap of $27.50 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 1.25 and a beta of 0.99. The stock has a 50-day simple moving average of $49.20 and a two-hundred day simple moving average of $51.46. Sun Life Financial Inc. has a fifty-two week low of $44.57 and a fifty-two week high of $55.46.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Thursday, May 9th. The financial services provider reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.09). Sun Life Financial had a return on equity of 16.97% and a net margin of 8.94%. The business had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $7.25 billion. As a group, analysts anticipate that Sun Life Financial Inc. will post 4.8 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Wednesday, May 29th were given a dividend of $0.588 per share. The ex-dividend date was Wednesday, May 29th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.58. This represents a $2.35 annualized dividend and a yield of 4.95%. Sun Life Financial’s dividend payout ratio is 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.