Pathway Financial Advisers LLC Boosts Stock Holdings 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% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,952 shares of the financial services provider’s stock after purchasing an additional 615 shares during the period. Pathway Financial Advisers LLC’s holdings in Sun Life Financial were worth $1,506,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Concord Wealth Partners purchased a new position in Sun Life Financial during the third quarter worth about $116,000. PFG Investments LLC raised its holdings in Sun Life Financial by 11.3% during the third quarter. PFG Investments LLC now owns 6,044 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 614 shares in the last quarter. Arkadios Wealth Advisors purchased a new position in Sun Life Financial during the third quarter worth about $205,000. Assenagon Asset Management S.A. raised its holdings in 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. raised its holdings in 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. 52.26% of the stock is owned by hedge funds and other institutional investors.

Sun Life Financial Trading Down 0.5 %

Shares of Sun Life Financial stock opened at $56.55 on Thursday. Sun Life Financial Inc. has a 12-month low of $45.20 and a 12-month 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 company has a 50-day moving average of $56.37 and a two-hundred day moving average of $52.27.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Monday, August 12th. The financial services provider reported $1.25 earnings per share (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 company had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.72 billion. On average, sell-side analysts forecast that Sun Life Financial Inc. will post 4.88 EPS for the current fiscal year.

Sun Life Financial Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Wednesday, August 28th were paid a dividend of $0.587 per share. 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 dividend payout ratio (DPR) is 59.85%.

Wall Street Analyst Weigh In

Separately, Barclays initiated coverage on shares of Sun Life Financial in a 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.