Legal & General Group Plc Grows Stock Holdings in Sun Life Financial Inc. (NYSE:SLF)

Legal & General Group Plc grew its holdings in Sun Life Financial Inc. (NYSE:SLFFree Report) (TSE:SLF) by 4.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,796,012 shares of the financial services provider’s stock after purchasing an additional 176,215 shares during the quarter. Legal & General Group Plc’s holdings in Sun Life Financial were worth $186,057,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Money Concepts Capital Corp acquired a new stake in Sun Life Financial in the 4th quarter valued at approximately $26,000. IFP Advisors Inc increased its holdings in Sun Life Financial by 166.9% in the 2nd quarter. IFP Advisors Inc now owns 678 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 424 shares during the last quarter. Chilton Capital Management LLC acquired a new stake in Sun Life Financial in the 2nd quarter valued at approximately $30,000. Achmea Investment Management B.V. acquired a new stake in Sun Life Financial in the 1st quarter valued at approximately $32,000. Finally, ST Germain D J Co. Inc. acquired a new stake in Sun Life Financial in the 2nd quarter valued at approximately $34,000. Institutional investors and hedge funds own 44.96% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group assumed coverage on shares of Sun Life Financial in a research note on Thursday, February 22nd. They issued a “buy” rating for the company.

View Our Latest Stock Report on SLF

Sun Life Financial Trading Up 1.6 %

Sun Life Financial stock opened at $55.13 on Friday. The stock has a market cap of $32.23 billion, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. The company has a fifty day simple moving average of $52.32 and a 200-day simple moving average of $50.22. Sun Life Financial Inc. has a 12-month low of $43.53 and a 12-month high of $55.35.

Sun Life Financial (NYSE:SLFGet Free Report) (TSE:SLF) last released its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.06. The business had revenue of $13.73 billion during the quarter. Sun Life Financial had a net margin of 7.79% and a return on equity of 17.30%. As a group, sell-side analysts forecast that Sun Life Financial Inc. will post 5.09 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Wednesday, February 28th will be given a $0.581 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.56. This represents a $2.32 dividend on an annualized basis and a yield of 4.22%. Sun Life Financial’s payout ratio is 59.79%.

About Sun Life Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Sun Life Financial (NYSE:SLF)

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