Pathway Financial Advisers LLC Grows Stock Position in Sun Life Financial Inc. (NYSE:SLF)

Pathway Financial Advisers LLC increased its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,952 shares of the financial services provider’s stock after buying an additional 615 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Sun Life Financial were worth $1,506,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SLF. Concord Wealth Partners purchased a new stake in Sun Life Financial in the third quarter valued at approximately $116,000. PFG Investments LLC grew its stake in shares of Sun Life Financial by 11.3% in the third quarter. PFG Investments LLC now owns 6,044 shares of the financial services provider’s stock worth $351,000 after acquiring an additional 614 shares in the last quarter. Arkadios Wealth Advisors acquired a new position in shares of Sun Life Financial during the third quarter worth $205,000. Assenagon Asset Management S.A. grew its stake in shares of Sun Life Financial by 0.3% during the third quarter. Assenagon Asset Management S.A. now owns 62,589 shares of the financial services provider’s stock worth $3,635,000 after purchasing an additional 200 shares in the last quarter. Finally, JCIC Asset Management Inc. grew its stake in shares of Sun Life Financial by 4.3% during the third quarter. JCIC Asset Management Inc. now owns 106,346 shares of the financial services provider’s stock worth $6,168,000 after purchasing an additional 4,390 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Price Performance

Shares of SLF opened at $56.55 on Thursday. Sun Life Financial Inc. has a 1-year low of $45.20 and a 1-year high of $58.51. The stock has a market cap of $32.79 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 1.44 and a beta of 1.00. The firm has a fifty day moving average price of $56.37 and a 200 day moving average price of $52.27.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Monday, August 12th. The financial services provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $6.72 billion. As a group, equities analysts expect that Sun Life Financial Inc. will post 4.88 EPS for the current fiscal year.

Sun Life Financial Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Wednesday, August 28th were issued a $0.587 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.15%. Sun Life Financial’s payout ratio is 59.85%.

Analysts Set New Price Targets

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

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.