Intech Investment Management LLC grew its stake in Sun Life Financial Inc. (NYSE:SLF – Free Report) (TSE:SLF) by 115.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,208 shares of the financial services provider’s stock after buying an additional 23,672 shares during the period. Intech Investment Management LLC’s holdings in Sun Life Financial were worth $2,763,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Sun Life Financial by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 25,884,084 shares of the financial services provider’s stock worth $1,615,788,000 after buying an additional 534,772 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Sun Life Financial by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 5,529,609 shares of the financial services provider’s stock worth $353,181,000 after buying an additional 347,041 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Sun Life Financial by 1.0% in the fourth quarter. Legal & General Group Plc now owns 3,896,312 shares of the financial services provider’s stock worth $243,542,000 after buying an additional 36,698 shares during the last quarter. Scotia Capital Inc. lifted its position in shares of Sun Life Financial by 6.3% in the third quarter. Scotia Capital Inc. now owns 3,303,733 shares of the financial services provider’s stock worth $197,709,000 after buying an additional 196,675 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Sun Life Financial by 9.8% in the third quarter. JPMorgan Chase & Co. now owns 2,733,974 shares of the financial services provider’s stock worth $164,120,000 after purchasing an additional 243,323 shares during the period. Institutional investors and hedge funds own 52.26% of the company’s stock.
Sun Life Financial Stock Up 2.3%
Sun Life Financial stock opened at $72.66 on Wednesday. The business has a 50 day moving average price of $68.63 and a two-hundred day moving average price of $64.69. The stock has a market cap of $40.26 billion, a price-to-earnings ratio of 18.73 and a beta of 0.89. Sun Life Financial Inc. has a 12 month low of $56.22 and a 12 month high of $74.16.
Sun Life Financial Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, May 27th will be issued a $0.96 dividend. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $3.84 annualized dividend and a yield of 5.3%. Sun Life Financial’s payout ratio is currently 72.94%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the company. National Bank Financial upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research note on Friday, April 24th. TD Cowen reiterated a “buy” rating on shares of Sun Life Financial in a research note on Thursday, May 7th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Sun Life Financial in a research note on Friday, February 13th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Sun Life Financial in a research note on Friday, May 8th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Sun Life Financial in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $86.50.
Check Out Our Latest Analysis on Sun Life Financial
Sun Life Financial Company Profile
Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.
Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.
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