Raymond James & Associates Lowers Position in Sun Life Financial Inc. (NYSE:SLF)

Raymond James & Associates lessened its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 4.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,291 shares of the financial services provider’s stock after selling 1,548 shares during the quarter. Raymond James & Associates’ holdings in Sun Life Financial were worth $1,726,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Money Concepts Capital Corp purchased a new stake in Sun Life Financial during the fourth quarter valued at $26,000. Achmea Investment Management B.V. purchased a new stake in Sun Life Financial during the first quarter valued at $32,000. IFP Advisors Inc raised its stake in Sun Life Financial by 166.9% during the second quarter. IFP Advisors Inc now owns 678 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 424 shares in the last quarter. Headinvest LLC purchased a new stake in Sun Life Financial during the third quarter valued at $39,000. Finally, Legacy Financial Group LLC purchased a new stake in Sun Life Financial during the third quarter valued at $40,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group began coverage on shares of Sun Life Financial in a research note on Thursday, February 22nd. They set a “buy” rating on the stock.

Sun Life Financial Trading Down 0.2 %

Shares of SLF opened at $50.22 on Thursday. Sun Life Financial Inc. has a twelve month low of $44.57 and a twelve month high of $55.46. The company has a market cap of $29.25 billion, a P/E ratio of 12.94, a P/E/G ratio of 1.25 and a beta of 1.01. The company’s fifty day simple moving average is $53.65 and its 200-day simple moving average is $51.19.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Wednesday, February 7th. The financial services provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.06. Sun Life Financial had a net margin of 7.79% and a return on equity of 17.30%. The business had revenue of $13.73 billion for the quarter. Analysts predict that Sun Life Financial Inc. will post 5.06 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, February 28th were paid a $0.581 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $2.32 annualized dividend and a dividend yield of 4.63%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.56. Sun Life Financial’s dividend payout ratio is currently 59.79%.

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.