Park National Corp OH Takes $230,000 Position in Sun Life Financial Inc. (NYSE:SLF)

Park National Corp OH acquired a new stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the third quarter, HoldingsChannel reports. The fund acquired 3,970 shares of the financial services provider’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SLF. Vanguard Group Inc. increased its holdings in Sun Life Financial by 1.6% in the first quarter. Vanguard Group Inc. now owns 23,241,910 shares of the financial services provider’s stock valued at $1,268,543,000 after buying an additional 359,028 shares during the last quarter. TD Asset Management Inc boosted its holdings in Sun Life Financial by 2.8% in the first quarter. TD Asset Management Inc now owns 16,107,748 shares of the financial services provider’s stock worth $879,751,000 after purchasing an additional 442,197 shares during the period. Mackenzie Financial Corp increased its stake in Sun Life Financial by 2.9% during the second quarter. Mackenzie Financial Corp now owns 14,703,533 shares of the financial services provider’s stock valued at $721,042,000 after purchasing an additional 407,913 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Sun Life Financial by 5.1% during the second quarter. 1832 Asset Management L.P. now owns 10,216,206 shares of the financial services provider’s stock worth $500,492,000 after purchasing an additional 499,009 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Sun Life Financial by 13.9% in the second quarter. The Manufacturers Life Insurance Company now owns 8,601,980 shares of the financial services provider’s stock worth $421,167,000 after acquiring an additional 1,049,244 shares during the last quarter. Institutional investors own 52.26% of the company’s stock.

Analyst Ratings Changes

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

Sun Life Financial Stock Down 0.5 %

Shares of NYSE SLF opened at $57.60 on Friday. Sun Life Financial Inc. has a 52-week low of $44.57 and a 52-week high of $58.49. The stock has a market capitalization of $33.24 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 1.49 and a beta of 1.00. The stock’s fifty day simple moving average is $53.57 and its 200 day simple moving average is $51.84.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Monday, August 12th. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. The business had revenue of $6.52 billion during the quarter, compared to analyst estimates 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, analysts anticipate that Sun Life Financial Inc. will post 4.86 earnings per share for the current year.

Sun Life Financial Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Wednesday, August 28th were given 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 yield of 4.08%. Sun Life Financial’s payout ratio is currently 60.10%.

Sun Life Financial 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.