WASHINGTON TRUST Co Sells 702 Shares of Sun Life Financial Inc. (NYSE:SLF)

WASHINGTON TRUST Co cut its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 5.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Money Concepts Capital Corp bought a new stake in Sun Life Financial during the 4th quarter worth approximately $26,000. Achmea Investment Management B.V. bought a new stake in Sun Life Financial in the first quarter worth about $32,000. Chilton Capital Management LLC purchased a new stake in shares of Sun Life Financial during the 2nd quarter worth approximately $30,000. ST Germain D J Co. Inc. purchased a new position in Sun Life Financial in the second quarter valued at approximately $34,000. Finally, IFP Advisors Inc grew its holdings in Sun Life Financial by 166.9% during the second quarter. IFP Advisors Inc now owns 678 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 424 shares during the period. 52.26% of the stock is owned by institutional investors.

Sun Life Financial Stock Up 0.3 %

SLF traded up $0.18 during trading hours on Thursday, hitting $54.56. The stock had a trading volume of 150,173 shares, compared to its average volume of 622,584. The company’s fifty day simple moving average is $53.22 and its 200 day simple moving average is $50.85. Sun Life Financial Inc. has a 1 year low of $44.57 and a 1 year high of $55.46. The stock has a market cap of $31.85 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01.

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

Sun Life Financial Increases Dividend

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

Analysts Set New Price Targets

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

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.