RIA Advisory Group LLC Invests $39,000 in Sun Life Financial Inc. (NYSE:SLF)

RIA Advisory Group LLC bought a new position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 760 shares of the financial services provider’s stock, valued at approximately $39,000.

Several other large investors also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its position in Sun Life Financial by 2.0% in the first quarter. Raymond James & Associates now owns 31,331 shares of the financial services provider’s stock worth $1,749,000 after purchasing an additional 614 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Sun Life Financial by 1.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 24,648 shares of the financial services provider’s stock valued at $1,376,000 after buying an additional 269 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Sun Life Financial by 3.5% during the 1st quarter. American Century Companies Inc. now owns 34,234 shares of the financial services provider’s stock worth $1,911,000 after acquiring an additional 1,144 shares in the last quarter. Natixis Advisors L.P. boosted its position in Sun Life Financial by 9.4% during the 1st quarter. Natixis Advisors L.P. now owns 14,075 shares of the financial services provider’s stock worth $786,000 after purchasing an additional 1,207 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in shares of Sun Life Financial during the first quarter valued at approximately $67,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group initiated coverage on shares of Sun Life Financial in a research note on Thursday, February 22nd. They set a “buy” rating for the company.

Sun Life Financial Price Performance

NYSE:SLF opened at $51.11 on Friday. The business’s 50-day moving average is $53.57 and its two-hundred day moving average is $51.21. The firm has a market capitalization of $29.77 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 1.25 and a beta of 1.01. Sun Life Financial Inc. has a 12 month low of $44.57 and a 12 month high of $55.46.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.06. Sun Life Financial had a return on equity of 17.30% and a net margin of 7.79%. The business had revenue of $13.73 billion during the quarter. Equities analysts anticipate that Sun Life Financial Inc. will post 5.06 EPS for the current year.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, February 28th were issued a $0.581 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $2.32 dividend on an annualized basis and a yield of 4.55%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.56. Sun Life Financial’s dividend payout ratio is currently 59.79%.

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.