Quantbot Technologies LP acquired a new stake in shares of Sun Life Financial Inc. (NYSE:SLF – Free Report) (TSE:SLF) during the 2nd quarter, Holdings Channel reports. The fund acquired 60,490 shares of the financial services provider’s stock, valued at approximately $4,744,000.
Other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Sun Life Financial during the 4th quarter worth $398,037,000. Morgan Stanley grew its position in shares of Sun Life Financial by 86.6% in the fourth quarter. Morgan Stanley now owns 3,952,646 shares of the financial services provider’s stock valued at $246,645,000 after purchasing an additional 1,834,772 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Sun Life Financial by 2,187.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,601,200 shares of the financial services provider’s stock valued at $100,276,000 after purchasing an additional 1,531,200 shares during the last quarter. Bank of Nova Scotia increased its stake in Sun Life Financial by 27.1% in the fourth quarter. Bank of Nova Scotia now owns 5,991,249 shares of the financial services provider’s stock valued at $373,984,000 after purchasing an additional 1,277,583 shares during the last quarter. Finally, Alberta Investment Management Corp purchased a new position in Sun Life Financial during the second quarter worth about $99,930,000. Institutional investors and hedge funds own 52.26% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently commented on SLF shares. TD Cowen reaffirmed a “buy” rating on shares of Sun Life Financial in a research note on Thursday, May 7th. Argus set a $81.00 target price on shares of Sun Life Financial in a report on Wednesday, June 10th. Scotiabank reaffirmed a “sector perform” rating on shares of Sun Life Financial in a research report on Monday, August 10th. Wall Street Zen raised shares of Sun Life Financial from a “sell” rating to a “hold” rating in a research note on Sunday, July 26th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Sun Life Financial in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $96.33.
Sun Life Financial Stock Performance
SLF stock opened at $79.07 on Friday. The firm has a market cap of $44.07 billion, a P/E ratio of 18.48 and a beta of 0.88. Sun Life Financial Inc. has a 1 year low of $57.22 and a 1 year high of $84.38. The stock has a 50-day simple moving average of $80.21 and a 200-day simple moving average of $72.17.
Sun Life Financial (NYSE:SLF – Get Free Report) (TSE:SLF) last released its quarterly earnings results on Thursday, August 6th. The financial services provider reported $1.46 EPS for the quarter, topping the consensus estimate of $1.39 by $0.07. Sun Life Financial had a return on equity of 17.96% and a net margin of 7.66%.The firm had revenue of $10.10 billion for the quarter, compared to analyst estimates of $994.33 million. On average, equities research analysts predict that Sun Life Financial Inc. will post 5.72 EPS for the current year.
Sun Life Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Wednesday, August 26th will be issued a $0.96 dividend. The ex-dividend date is Wednesday, August 26th. This represents a $3.84 dividend on an annualized basis and a yield of 4.9%. Sun Life Financial’s payout ratio is currently 66.12%.
Sun Life Financial 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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