Massmutual Trust Co. FSB ADV Purchases 492 Shares of Sun Life Financial Inc. (NYSE:SLF)

Massmutual Trust Co. FSB ADV increased its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 24.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 2,505 shares of the financial services provider’s stock after buying an additional 492 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Sun Life Financial were worth $123,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Voisard Asset Management Group Inc. purchased a new position in shares of Sun Life Financial in the 4th quarter worth about $26,000. GAMMA Investing LLC boosted its holdings 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 worth $28,000 after buying an additional 562 shares during the last quarter. Northwest Financial Advisors purchased a new position in shares of Sun Life Financial in the 4th quarter worth about $29,000. RIA Advisory Group LLC purchased a new position in shares of Sun Life Financial in the 4th quarter worth about $39,000. Finally, Private Wealth Management Group LLC purchased a new position in shares of Sun Life Financial in the 4th quarter worth about $41,000. 52.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Argus upgraded shares of Sun Life Financial to a “strong-buy” rating in a research report on Monday, June 3rd.

Sun Life Financial Price Performance

NYSE:SLF traded up $0.47 on Tuesday, reaching $47.54. 453,331 shares of the company’s stock were exchanged, compared to its average volume of 703,470. The stock has a fifty day simple moving average of $49.20 and a 200-day simple moving average of $51.46. Sun Life Financial Inc. has a 52 week low of $44.57 and a 52 week high of $55.46. The firm has a market cap of $27.50 billion, a price-to-earnings ratio of 12.19, a P/E/G ratio of 1.25 and a beta of 0.99.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings data on Thursday, May 9th. The financial services provider reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.09). Sun Life Financial had a net margin of 8.94% and a return on equity of 16.97%. The firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $7.25 billion. As a group, sell-side analysts predict that Sun Life Financial Inc. will post 4.8 EPS for the current year.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Wednesday, May 29th were given a dividend of $0.588 per share. The ex-dividend date of this dividend was Wednesday, May 29th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.58. This represents a $2.35 annualized dividend and a yield of 4.95%. Sun Life Financial’s payout ratio is presently 60.10%.

About Sun Life Financial

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.