Sun Life Financial Inc. (NYSE:SLF) Shares Acquired by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. increased its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 5.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 12,289 shares of the financial services provider’s stock after buying an additional 651 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Sun Life Financial were worth $621,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of SLF. Norges Bank acquired a new position in shares of Sun Life Financial in the 4th quarter valued at about $357,664,000. Toronto Dominion Bank boosted its holdings in shares of Sun Life Financial by 57.0% in the 4th quarter. Toronto Dominion Bank now owns 4,846,600 shares of the financial services provider’s stock valued at $215,789,000 after buying an additional 1,759,167 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Sun Life Financial by 10.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,243,316 shares of the financial services provider’s stock valued at $588,153,000 after buying an additional 1,301,394 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Sun Life Financial by 13.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 7,044,901 shares of the financial services provider’s stock valued at $447,421,000 after buying an additional 845,983 shares during the period. Finally, AGF Investments Inc. boosted its holdings in shares of Sun Life Financial by 51.5% in the 4th quarter. AGF Investments Inc. now owns 1,692,790 shares of the financial services provider’s stock valued at $75,271,000 after buying an additional 575,293 shares during the period. 47.28% of the stock is owned by institutional investors and hedge funds.

SLF stock opened at $52.91 on Friday. Sun Life Financial Inc. has a 52 week low of $35.18 and a 52 week high of $55.07. The company has a market cap of $30.98 billion, a P/E ratio of 13.85, a price-to-earnings-growth ratio of 1.36 and a beta of 1.06. The stock’s 50-day moving average is $53.22.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Wednesday, May 5th. The financial services provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.06. Sun Life Financial had a net margin of 8.04% and a return on equity of 14.09%. The business had revenue of $1.20 billion for the quarter. As a group, sell-side analysts predict that Sun Life Financial Inc. will post 4.43 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Wednesday, May 26th will be issued a $0.4487 dividend. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.43. This represents a $1.79 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Tuesday, May 25th. Sun Life Financial’s payout ratio is presently 20.00%.

A number of research analysts have issued reports on SLF shares. Credit Suisse Group boosted their target price on shares of Sun Life Financial from $67.00 to $71.00 and gave the company an “outperform” rating in a research note on Friday, April 30th. Scotiabank boosted their target price on shares of Sun Life Financial from $70.00 to $76.00 and gave the company an “outperform” rating in a research note on Thursday, April 29th. Zacks Investment Research lowered shares of Sun Life Financial from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a research note on Tuesday, May 11th. TD Securities reduced their target price on shares of Sun Life Financial from $76.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, May 6th. Finally, Canaccord Genuity boosted their target price on shares of Sun Life Financial from $69.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, April 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. Sun Life Financial has a consensus rating of “Buy” and a consensus price target of $68.10.

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. It offers term and permanent life, as well as health, dental, critical illness, long-term care, and disability insurance products. The company also provides reinsurance products; investment counselling and portfolio management services; mutual funds and segregated funds; trust and banking services; real estate property brokerage and appraisal services; and merchant banking services.

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

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