TRUE Private Wealth Advisors Acquires New Holdings in Sun Life Financial Inc (NYSE:SLF)

TRUE Private Wealth Advisors acquired a new stake in Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 1,944 shares of the financial services provider’s stock, valued at approximately $80,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Unison Advisors LLC raised its stake in shares of Sun Life Financial by 0.9% during the 1st quarter. Unison Advisors LLC now owns 34,399 shares of the financial services provider’s stock worth $1,321,000 after purchasing an additional 312 shares in the last quarter. Financial Engines Advisors L.L.C. raised its stake in shares of Sun Life Financial by 1.9% during the 1st quarter. Financial Engines Advisors L.L.C. now owns 22,893 shares of the financial services provider’s stock worth $879,000 after purchasing an additional 435 shares in the last quarter. OLD National Bancorp IN raised its stake in shares of Sun Life Financial by 6.8% during the 2nd quarter. OLD National Bancorp IN now owns 7,260 shares of the financial services provider’s stock worth $301,000 after purchasing an additional 462 shares in the last quarter. Cornerstone Advisors Inc. raised its stake in shares of Sun Life Financial by 40.6% during the 1st quarter. Cornerstone Advisors Inc. now owns 1,647 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 476 shares in the last quarter. Finally, Capital Advisors Ltd. LLC raised its stake in shares of Sun Life Financial by 25.7% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 2,393 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 490 shares in the last quarter. Institutional investors and hedge funds own 40.53% of the company’s stock.

SLF traded up $0.73 during trading hours on Friday, reaching $39.89. The company’s stock had a trading volume of 10,676 shares, compared to its average volume of 570,944. Sun Life Financial Inc has a 52 week low of $31.49 and a 52 week high of $42.59. The company’s 50-day moving average is $41.24 and its 200-day moving average is $39.58. The firm has a market cap of $23.60 billion, a PE ratio of 10.66 and a beta of 0.89.



Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.30. Sun Life Financial had a return on equity of 13.37% and a net margin of 6.83%. The business had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter in the prior year, the business earned $1.20 EPS. Analysts predict that Sun Life Financial Inc will post 3.81 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Wednesday, August 28th will be paid a $0.401 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Tuesday, August 27th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.38. Sun Life Financial’s dividend payout ratio is 41.87%.

A number of equities research analysts have recently issued reports on SLF shares. BMO Capital Markets reiterated a “buy” rating and set a $58.00 price objective on shares of Sun Life Financial in a research note on Friday, April 26th. Barclays cut Sun Life Financial from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 12th. Argus increased their price target on Sun Life Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 1st. ValuEngine cut Sun Life Financial from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research upgraded Sun Life Financial from a “sell” rating to a “hold” rating and set a $45.00 price target on the stock in a research note on Thursday, July 4th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $51.50.

About Sun Life Financial

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.

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

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