AJOVista LLC Takes Position in Sun Life Financial Inc. (NYSE:SLF)

AJOVista LLC purchased a new stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 35,400 shares of the financial services provider’s stock, valued at approximately $1,836,000. Sun Life Financial accounts for 2.3% of AJOVista LLC’s investment portfolio, making the stock its 7th largest position.

Several other institutional investors also recently bought and sold shares of SLF. Intrust Bank NA grew its holdings in Sun Life Financial by 5.4% during the 4th quarter. Intrust Bank NA now owns 4,450 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 226 shares in the last quarter. First Affirmative Financial Network lifted its holdings in Sun Life Financial by 6.4% during the fourth quarter. First Affirmative Financial Network now owns 5,270 shares of the financial services provider’s stock worth $273,000 after buying an additional 318 shares during the period. Advisory Resource Group boosted its position in Sun Life Financial by 2.4% during the 4th quarter. Advisory Resource Group now owns 13,792 shares of the financial services provider’s stock valued at $715,000 after acquiring an additional 329 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Sun Life Financial by 1.9% in the 4th quarter. Signaturefd LLC now owns 22,365 shares of the financial services provider’s stock valued at $1,160,000 after acquiring an additional 414 shares during the period. Finally, Avantax Advisory Services Inc. raised its position in shares of Sun Life Financial by 3.2% in the 3rd quarter. Avantax Advisory Services Inc. now owns 13,767 shares of the financial services provider’s stock worth $672,000 after acquiring an additional 424 shares in the last quarter. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group began coverage on Sun Life Financial in a research note on Thursday, February 22nd. They issued a “buy” rating on the stock.

Sun Life Financial Stock Performance

SLF traded up $0.42 during trading on Friday, hitting $52.48. The stock had a trading volume of 387,697 shares, compared to its average volume of 574,018. The stock has a 50 day simple moving average of $53.17 and a two-hundred day simple moving average of $51.44. Sun Life Financial Inc. has a twelve month low of $44.57 and a twelve month high of $55.46. The company has a market capitalization of $30.57 billion, a PE ratio of 13.53, a PEG ratio of 1.30 and a beta of 1.00.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $1.23 earnings per share 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 during the quarter. On average, equities research analysts anticipate that Sun Life Financial Inc. will post 5.03 EPS for the current year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.581 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $2.32 annualized dividend and a dividend yield of 4.43%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.56. Sun Life Financial’s dividend payout ratio is 59.79%.

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.