Arkadios Wealth Advisors Buys New Shares in Sun Life Financial Inc. (NYSE:SLF)

Arkadios Wealth Advisors purchased a new position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,533 shares of the financial services provider’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in 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 worth $28,000 after acquiring an additional 562 shares in the last quarter. Clean Yield Group purchased a new stake in shares of Sun Life Financial in the third quarter worth $39,000. Ridgewood Investments LLC bought a new stake in shares of Sun Life Financial during the 2nd quarter valued at $39,000. Fairfield Financial Advisors LTD purchased a new position in shares of Sun Life Financial during the 2nd quarter valued at $43,000. Finally, Tobam boosted its holdings in Sun Life Financial by 57.6% in the 2nd quarter. Tobam now owns 2,066 shares of the financial services provider’s stock worth $101,000 after buying an additional 755 shares during the period. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barclays began coverage on Sun Life Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating on the stock.

Sun Life Financial Price Performance

Sun Life Financial stock opened at $55.42 on Friday. Sun Life Financial Inc. has a 1 year low of $45.20 and a 1 year high of $58.51. The firm’s 50 day moving average price is $56.41 and its 200-day moving average price is $52.29. The stock has a market cap of $32.13 billion, a P/E ratio of 14.17, a PEG ratio of 1.44 and a beta of 1.00.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Monday, August 12th. The financial services provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. The business had revenue of $6.52 billion for the quarter, compared to analysts’ expectations of $6.72 billion. Sun Life Financial had a net margin of 8.60% and a return on equity of 17.47%. As a group, equities analysts expect that Sun Life Financial Inc. will post 4.88 EPS for the current year.

Sun Life Financial Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Wednesday, August 28th were issued a dividend of $0.587 per share. This represents a $2.35 annualized dividend and a yield of 4.24%. The ex-dividend date was Wednesday, August 28th. Sun Life Financial’s dividend payout ratio is presently 59.85%.

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.