PFG Investments LLC Purchases 614 Shares of Sun Life Financial Inc. (NYSE:SLF)

PFG Investments LLC grew its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 11.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,044 shares of the financial services provider’s stock after purchasing an additional 614 shares during the quarter. PFG Investments LLC’s holdings in Sun Life Financial were worth $351,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Sun Life Financial by 6,244.4% in the 2nd quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 562 shares in the last quarter. Ridgewood Investments LLC bought a new stake in shares of Sun Life Financial in the 2nd quarter valued at $39,000. Clean Yield Group bought a new stake in shares of Sun Life Financial in the 3rd quarter valued at $39,000. Fairfield Financial Advisors LTD bought a new stake in shares of Sun Life Financial in the 2nd quarter valued at $43,000. Finally, Tobam increased its stake in shares of Sun Life Financial by 57.6% in the 2nd quarter. Tobam now owns 2,066 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 755 shares in the last quarter. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Trading Down 0.3 %

NYSE SLF opened at $56.80 on Wednesday. The company has a fifty day simple moving average of $56.31 and a 200 day simple moving average of $52.24. Sun Life Financial Inc. has a 12-month low of $45.14 and a 12-month high of $58.51. The company has a market cap of $32.93 billion, a P/E ratio of 14.53, a PEG ratio of 1.44 and a beta of 1.00.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Monday, August 12th. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.07. Sun Life Financial had a net margin of 8.60% and a return on equity of 17.47%. The business had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.72 billion. Sell-side analysts predict that Sun Life Financial Inc. will post 4.88 EPS for the current year.

Sun Life Financial Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Wednesday, August 28th were given a $0.587 dividend. This represents a $2.35 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend was Wednesday, August 28th. Sun Life Financial’s payout ratio is currently 59.85%.

Wall Street Analysts Forecast Growth

Separately, Barclays assumed coverage on shares of Sun Life Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating for the company.

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.