Truist Financial Corp Raises Stake in Sun Life Financial Inc. (NYSE:SLF)

Truist Financial Corp raised its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 8.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,838 shares of the financial services provider’s stock after acquiring an additional 629 shares during the quarter. Truist Financial Corp’s holdings in Sun Life Financial were worth $465,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SLF. Human Investing LLC purchased a new position in Sun Life Financial in the fourth quarter worth approximately $26,000. Assetmark Inc. lifted its stake in Sun Life Financial by 2,747.4% in the third quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 522 shares during the last quarter. Addison Advisors LLC lifted its stake in Sun Life Financial by 124.9% in the third quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 361 shares during the last quarter. Asset Planning Inc purchased a new position in Sun Life Financial in the fourth quarter worth approximately $40,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in Sun Life Financial in the fourth quarter worth approximately $45,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Analysts Set New Price Targets

SLF has been the topic of a number of research analyst reports. StockNews.com cut shares of Sun Life Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. National Bank Financial raised shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 15th. Finally, Cormark raised shares of Sun Life Financial from a “hold” rating to a “moderate buy” rating in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Sun Life Financial Trading Up 0.6 %

SLF stock opened at $55.89 on Tuesday. Sun Life Financial Inc. has a twelve month low of $46.41 and a twelve month high of $62.85. The company’s 50 day moving average is $57.76 and its two-hundred day moving average is $57.74. The stock has a market cap of $32.02 billion, a P/E ratio of 14.55, a PEG ratio of 1.52 and a beta of 1.03.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.30. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. On average, equities research analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Wednesday, February 26th will be issued a $0.5876 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.21%. Sun Life Financial’s payout ratio is 60.16%.

Sun Life Financial 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.