Fifth Third Bancorp Has $666,000 Stake in Sun Life Financial Inc. (NYSE:SLF)

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Fifth Third Bancorp raised its position in shares of Sun Life Financial Inc. (NYSE:SLFGet Rating) (TSE:SLF) by 27.0% in the first quarter, Holdings Channel reports. The fund owned 11,938 shares of the financial services provider’s stock after buying an additional 2,539 shares during the quarter. Fifth Third Bancorp’s holdings in Sun Life Financial were worth $666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. Brinker Capital Investments LLC boosted its holdings in Sun Life Financial by 1.4% during the fourth quarter. Brinker Capital Investments LLC now owns 12,828 shares of the financial services provider’s stock valued at $714,000 after acquiring an additional 173 shares during the period. JCIC Asset Management Inc. boosted its holdings in Sun Life Financial by 0.8% during the first quarter. JCIC Asset Management Inc. now owns 26,721 shares of the financial services provider’s stock valued at $1,492,000 after acquiring an additional 205 shares during the period. Quadrant Capital Group LLC boosted its holdings in Sun Life Financial by 8.9% during the fourth quarter. Quadrant Capital Group LLC now owns 2,735 shares of the financial services provider’s stock valued at $152,000 after acquiring an additional 224 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Sun Life Financial by 1.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 20,691 shares of the financial services provider’s stock valued at $1,152,000 after acquiring an additional 264 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in Sun Life Financial by 1.2% during the fourth quarter. Cetera Investment Advisers now owns 22,447 shares of the financial services provider’s stock valued at $1,250,000 after acquiring an additional 269 shares during the period. Institutional investors own 47.14% of the company’s stock.

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A number of equities research analysts have issued reports on SLF shares. BMO Capital Markets decreased their price target on shares of Sun Life Financial from C$75.00 to C$72.00 in a report on Wednesday, June 1st. Scotiabank reduced their target price on shares of Sun Life Financial from C$71.00 to C$67.00 in a research note on Friday, May 13th. Canaccord Genuity Group reduced their target price on shares of Sun Life Financial from C$75.50 to C$67.00 in a research note on Sunday, May 15th. Desjardins reduced their target price on shares of Sun Life Financial from C$77.00 to C$73.00 in a research note on Monday, May 16th. Finally, StockNews.com started coverage on shares of Sun Life Financial in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $72.23.

Shares of SLF opened at $44.90 on Wednesday. The stock has a market cap of $26.31 billion, a price-to-earnings ratio of 8.59, a P/E/G ratio of 1.08 and a beta of 1.05. Sun Life Financial Inc. has a 12 month low of $43.80 and a 12 month high of $58.49. The company has a 50-day moving average price of $47.94 and a two-hundred day moving average price of $52.47.

Sun Life Financial (NYSE:SLFGet Rating) (TSE:SLF) last posted its quarterly earnings data on Wednesday, May 11th. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.03. The company had revenue of $300.00 million during the quarter. Sun Life Financial had a net margin of 11.38% and a return on equity of 13.66%. On average, analysts expect that Sun Life Financial Inc. will post 4.77 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 1st were issued a dividend of $0.537 per share. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, May 31st. This represents a $2.15 annualized dividend and a dividend yield of 4.78%. Sun Life Financial’s dividend payout ratio (DPR) is presently 41.68%.

About Sun Life Financial (Get Rating)

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company also provides reinsurance products; investment counselling and portfolio management services; mutual funds and segregated funds; trust and banking services; real estate property brokerage and appraisal services; and merchant banking services.

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Want to see what other hedge funds are holding SLF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sun Life Financial Inc. (NYSE:SLFGet Rating) (TSE:SLF).

Institutional Ownership by Quarter for Sun Life Financial (NYSE:SLF)



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