Hunter Associates Investment Management LLC maintained its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,000 shares of the financial services provider’s stock at the close of the 2nd quarter. Hunter Associates Investment Management LLC’s holdings in Sun Life Financial were worth $286,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SLF. Nationwide Fund Advisors grew its stake in shares of Sun Life Financial by 45.3% in the first quarter. Nationwide Fund Advisors now owns 31,755 shares of the financial services provider’s stock worth $1,161,000 after acquiring an additional 9,900 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Sun Life Financial by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 1,022,749 shares of the financial services provider’s stock worth $37,381,000 after acquiring an additional 29,566 shares during the last quarter. Comerica Bank grew its stake in shares of Sun Life Financial by 1.2% in the first quarter. Comerica Bank now owns 42,533 shares of the financial services provider’s stock worth $1,501,000 after acquiring an additional 490 shares during the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of Sun Life Financial by 13.3% in the first quarter. UBS Asset Management Americas Inc. now owns 1,720,171 shares of the financial services provider’s stock worth $62,634,000 after acquiring an additional 201,540 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in shares of Sun Life Financial by 19.9% in the first quarter. Parametric Portfolio Associates LLC now owns 160,307 shares of the financial services provider’s stock worth $5,859,000 after acquiring an additional 26,626 shares during the last quarter. 40.90% of the stock is currently owned by hedge funds and other institutional investors.

Sun Life Financial Inc. (SLF) traded up 0.46% during midday trading on Friday, hitting $39.32. The company had a trading volume of 279,197 shares. The stock has a market capitalization of $24.13 billion, a PE ratio of 11.38 and a beta of 0.86. Sun Life Financial Inc. has a 52 week low of $31.42 and a 52 week high of $40.57. The stock has a 50 day moving average price of $38.43 and a 200-day moving average price of $36.17.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Wednesday, August 9th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.09. Sun Life Financial had a return on equity of 13.29% and a net margin of 12.48%. The company had revenue of $8.12 billion for the quarter, compared to analyst estimates of $7.36 billion. During the same period in the prior year, the company posted $0.90 EPS. The firm’s quarterly revenue was down 14.8% compared to the same quarter last year. On average, equities analysts predict that Sun Life Financial Inc. will post $3.30 EPS for the current year.

Sun Life Financial declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 9th that allows the company to buyback 11,500,000 outstanding shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Wednesday, August 30th will be given a dividend of $0.3439 per share. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.32. This represents a $1.38 annualized dividend and a yield of 3.50%. The ex-dividend date is Monday, August 28th. Sun Life Financial’s dividend payout ratio is currently 43.85%.

A number of research firms have recently commented on SLF. Zacks Investment Research cut Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Tuesday. BidaskClub raised Sun Life Financial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 19th. TD Securities increased their price objective on Sun Life Financial from $50.00 to $51.00 and gave the company a “hold” rating in a research report on Thursday, August 10th. Bank of America Corporation raised Sun Life Financial from an “underperform” rating to a “hold” rating in a research report on Monday, July 10th. Finally, ValuEngine raised Sun Life Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. Nine equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Sun Life Financial presently has a consensus rating of “Hold” and a consensus target price of $45.80.

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About Sun Life Financial

Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services company providing a range of insurance, wealth and asset management solutions to individuals and corporate Clients. It operates through five segments. The Sun Life Financial Canada segment provides retail insurance and investment advice, products and services to people across Canada.

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

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