Wealth Enhancement Advisory Services LLC Has $585,000 Stock Position in Sun Life Financial Inc. (NYSE:SLF)

Wealth Enhancement Advisory Services LLC raised its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 19.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,220 shares of the financial services provider’s stock after purchasing an additional 1,645 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Sun Life Financial were worth $585,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Sun Life Financial by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 24,233,496 shares of the financial services provider’s stock worth $1,438,888,000 after acquiring an additional 197,887 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Sun Life Financial by 2.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 9,454,589 shares of the financial services provider’s stock valued at $562,121,000 after buying an additional 198,205 shares during the last quarter. Norges Bank purchased a new position in Sun Life Financial in the fourth quarter worth $382,176,000. Geode Capital Management LLC boosted its position in Sun Life Financial by 30.6% in the fourth quarter. Geode Capital Management LLC now owns 3,467,275 shares of the financial services provider’s stock worth $210,080,000 after purchasing an additional 812,689 shares during the last quarter. Finally, Scotia Capital Inc. boosted its position in Sun Life Financial by 3.3% in the fourth quarter. Scotia Capital Inc. now owns 2,974,065 shares of the financial services provider’s stock worth $176,273,000 after purchasing an additional 93,992 shares during the last quarter. 52.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on SLF shares. Royal Bank Of Canada boosted their target price on Sun Life Financial from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, May 12th. Scotiabank restated an “outperform” rating on shares of Sun Life Financial in a research note on Thursday, May 1st. Finally, BMO Capital Markets restated an “outperform” rating on shares of Sun Life Financial in a research note on Monday, May 12th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

Sun Life Financial Trading Up 0.5%

SLF opened at $64.94 on Friday. The stock has a market capitalization of $36.60 billion, a P/E ratio of 16.52, a PEG ratio of 1.77 and a beta of 0.91. Sun Life Financial Inc. has a 12-month low of $46.41 and a 12-month high of $66.81. The stock has a 50-day moving average price of $63.46 and a 200-day moving average price of $59.30.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.05. Sun Life Financial had a return on equity of 17.33% and a net margin of 7.47%. The business had revenue of $7.91 billion during the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter last year, the business posted $1.40 EPS. On average, equities research analysts predict that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Wednesday, May 28th were given a $0.6332 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $2.53 annualized dividend and a dividend yield of 3.90%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.59. Sun Life Financial’s dividend payout ratio is currently 64.89%.

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.