Sun Life Financial (NYSE:SLF) Sees Large Volume Increase – What’s Next?

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) shares saw unusually-strong trading volume on Monday . Approximately 5,367,781 shares changed hands during trading, an increase of 731% from the previous session’s volume of 645,615 shares.The stock last traded at $55.35 and had previously closed at $54.61.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SLF. StockNews.com cut Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Cormark upgraded shares of Sun Life Financial from a “hold” rating to a “moderate buy” rating in a research report on Thursday, February 13th. Finally, National Bank Financial upgraded shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Sun Life Financial Stock Performance

The stock’s fifty day moving average price is $58.22 and its 200-day moving average price is $57.50. The firm has a market cap of $31.59 billion, a PE ratio of 14.36, a P/E/G ratio of 1.52 and a beta of 1.03.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $0.90 by $0.30. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. Sell-side analysts forecast that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Wednesday, February 26th will be paid a dividend of $0.5876 per share. The ex-dividend date is Wednesday, February 26th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.26%. Sun Life Financial’s dividend payout ratio (DPR) is 60.16%.

Institutional Trading of Sun Life Financial

A number of large investors have recently made changes to their positions in SLF. Human Investing LLC acquired a new position in shares of Sun Life Financial during the 4th quarter valued at about $26,000. Assetmark Inc. increased its holdings in Sun Life Financial by 2,747.4% in the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 522 shares in the last quarter. Addison Advisors LLC raised its holdings in shares of Sun Life Financial by 124.9% during the 3rd quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock valued at $38,000 after buying an additional 361 shares during the period. Asset Planning Inc purchased a new stake in shares of Sun Life Financial during the 4th quarter valued at about $40,000. Finally, BankPlus Trust Department acquired a new position in Sun Life Financial during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

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.