Sun Life Financial Inc. (NYSE:SLF) Shares Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co cut its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 5.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 11,471 shares of the financial services provider’s stock after selling 702 shares during the period. WASHINGTON TRUST Co’s holdings in Sun Life Financial were worth $595,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Money Concepts Capital Corp acquired a new stake in Sun Life Financial in the fourth quarter valued at $26,000. Achmea Investment Management B.V. purchased a new position in shares of Sun Life Financial during the first quarter worth about $32,000. Chilton Capital Management LLC purchased a new position in shares of Sun Life Financial during the second quarter worth about $30,000. ST Germain D J Co. Inc. purchased a new position in shares of Sun Life Financial during the second quarter worth about $34,000. Finally, IFP Advisors Inc grew its holdings in shares of Sun Life Financial by 166.9% during the second quarter. IFP Advisors Inc now owns 678 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 424 shares during the last quarter. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Jefferies Financial Group started coverage on Sun Life Financial in a report on Thursday, February 22nd. They set a “buy” rating on the stock.

Sun Life Financial Trading Up 0.3 %

Shares of NYSE SLF traded up $0.18 during midday trading on Thursday, reaching $54.56. 150,173 shares of the company were exchanged, compared to its average volume of 622,584. Sun Life Financial Inc. has a 1 year low of $44.57 and a 1 year high of $55.46. The stock has a fifty day simple moving average of $53.22 and a 200 day simple moving average of $50.85. The stock has a market cap of $31.85 billion, a P/E ratio of 14.01, a PEG ratio of 1.33 and a beta of 1.01.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.06. Sun Life Financial had a return on equity of 17.30% and a net margin of 7.79%. The firm had revenue of $13.73 billion for the quarter. As a group, analysts forecast that Sun Life Financial Inc. will post 5.09 earnings per share for the current year.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Wednesday, February 28th will be issued a dividend of $0.581 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.26%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.56. Sun Life Financial’s dividend payout ratio (DPR) is currently 59.79%.

About Sun Life Financial

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.