Sun Life Financial Inc. (SLF) to Issue Quarterly Dividend of C$0.96 on June 30th

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) announced a quarterly dividend on Wednesday, May 6th. Investors of record on Wednesday, May 27th will be paid a dividend of 0.96 per share by the financial services provider on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Wednesday, May 27th. This is a 4.3% increase from Sun Life Financial’s previous quarterly dividend of $0.92.

Sun Life Financial has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 11 years. Sun Life Financial has a payout ratio of 49.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Sun Life Financial to earn $6.25 per share next year, which means the company should continue to be able to cover its $2.82 annual dividend with an expected future payout ratio of 45.1%.

Sun Life Financial Trading Up 0.0%

Shares of Sun Life Financial stock opened at $73.10 on Monday. The firm has a market capitalization of $44.32 billion, a P/E ratio of 18.84 and a beta of 0.91. The business’s fifty day simple moving average is $67.54 and its 200 day simple moving average is $64.15. Sun Life Financial has a 12 month low of $56.22 and a 12 month high of $74.16.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.03. The firm had revenue of $6.41 billion for the quarter, compared to analyst estimates of $925.99 million. Sun Life Financial had a return on equity of 17.80% and a net margin of 7.85%.During the same period in the previous year, the company posted $1.82 earnings per share. Analysts predict that Sun Life Financial will post 5.74 EPS for the current fiscal year.

Institutional Trading of Sun Life Financial

Institutional investors have recently added to or reduced their stakes in the business. Louisbourg Investments Inc. grew its position in shares of Sun Life Financial by 3.0% during the first quarter. Louisbourg Investments Inc. now owns 5,105 shares of the financial services provider’s stock valued at $319,000 after purchasing an additional 150 shares in the last quarter. Cornerstone Planning Group LLC grew its position in shares of Sun Life Financial by 68.4% during the fourth quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 167 shares in the last quarter. Candriam S.C.A. grew its position in shares of Sun Life Financial by 1.8% during the first quarter. Candriam S.C.A. now owns 9,794 shares of the financial services provider’s stock valued at $612,000 after purchasing an additional 177 shares in the last quarter. HB Wealth Management LLC grew its position in shares of Sun Life Financial by 4.7% during the first quarter. HB Wealth Management LLC now owns 4,158 shares of the financial services provider’s stock valued at $260,000 after purchasing an additional 187 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Sun Life Financial by 3.5% during the first quarter. Sei Investments Co. now owns 5,788 shares of the financial services provider’s stock valued at $362,000 after purchasing an additional 196 shares in the last quarter. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

About Sun Life Financial

Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.

Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.