Sun Life Financial said on May 11, 2023 that its board of directors declared a regular quarterly dividend of $0.75 per share ($3.00 annualized). Previously, the company paid $0.72 per share.
Shares must be purchased before the ex-div date of May 30, 2023 to qualify for the dividend. Shareholders of record as of May 31, 2023 will receive the payment on June 30, 2023.
At the current share price of $47.95 / share, the stock's dividend yield is 6.26%.
Additionally, the company's dividend payout ratio is 0.38. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 567 funds or institutions reporting positions in Sun Life Financial. This is an increase of 18 owner(s) or 3.28% in the last quarter. Average portfolio weight of all funds dedicated to SLF is 0.21%, an increase of 12.63%. Total shares owned by institutions decreased in the last three months by 2.23% to 275,681K shares. 
The put/call ratio of SLF is 0.86, indicating a bullish outlook.
Analyst Price Forecast Suggests 16.60% Upside
As of May 11, 2023, the average one-year price target for Sun Life Financial is 55.91. The forecasts range from a low of 46.79 to a high of $61.20. The average price target represents an increase of 16.60% from its latest reported closing price of 47.95.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Sun Life Financial is 70,395MM. The projected annual non-GAAP EPS is 6.46.
What are Other Shareholders Doing?
Royal Bank Of Canada holds 45,932K shares representing 7.83% ownership of the company. In it's prior filing, the firm reported owning 52,063K shares, representing a decrease of 13.35%. The firm decreased its portfolio allocation in SLF by 6.17% over the last quarter.
Mackenzie Financial holds 14,711K shares representing 2.51% ownership of the company. In it's prior filing, the firm reported owning 16,250K shares, representing a decrease of 10.47%. The firm decreased its portfolio allocation in SLF by 15.61% over the last quarter.
FIL holds 13,470K shares representing 2.30% ownership of the company. In it's prior filing, the firm reported owning 9,837K shares, representing an increase of 26.97%. The firm decreased its portfolio allocation in SLF by 25.28% over the last quarter.
Bank Of Montreal holds 12,078K shares representing 2.06% ownership of the company. In it's prior filing, the firm reported owning 12,174K shares, representing a decrease of 0.80%. The firm increased its portfolio allocation in SLF by 46.24% over the last quarter.
Td Asset Management holds 11,521K shares representing 1.96% ownership of the company. In it's prior filing, the firm reported owning 13,463K shares, representing a decrease of 16.85%. The firm decreased its portfolio allocation in SLF by 50.13% over the last quarter.
Sun Life Financial Background Information
(This description is provided by the company.)
Sun Life is a leading international financial services organization providing a diverse range of insurance, wealth and asset management solutions to individuals and corporate Clients. Sun Life Financial has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysiaand Bermuda. As of September 30, 2020, Sun Life Financial had total assets under management of C$1,186 billion.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
