Swiss Life Asset Management Ltd Grows Position in Sun Life Financial Inc. $SLF

Swiss Life Asset Management Ltd increased its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 20.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,248 shares of the financial services provider’s stock after purchasing an additional 14,980 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Sun Life Financial were worth $5,246,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SLF. Norges Bank acquired a new position in Sun Life Financial in the second quarter valued at about $362,886,000. Picton Mahoney Asset Management acquired a new stake in shares of Sun Life Financial during the second quarter valued at about $87,660,000. Intact Investment Management Inc. increased its position in shares of Sun Life Financial by 226.8% during the third quarter. Intact Investment Management Inc. now owns 1,270,947 shares of the financial services provider’s stock valued at $76,327,000 after acquiring an additional 882,070 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Sun Life Financial by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 25,422,211 shares of the financial services provider’s stock valued at $1,691,568,000 after acquiring an additional 827,119 shares during the period. Finally, Public Sector Pension Investment Board lifted its holdings in shares of Sun Life Financial by 1,441.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 854,747 shares of the financial services provider’s stock worth $56,760,000 after acquiring an additional 799,300 shares during the last quarter. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Sun Life Financial Trading Down 0.7%

Sun Life Financial stock opened at $62.12 on Friday. The firm has a market capitalization of $34.41 billion, a P/E ratio of 14.12 and a beta of 0.87. Sun Life Financial Inc. has a twelve month low of $52.44 and a twelve month high of $69.67. The stock’s fifty day simple moving average is $64.32 and its 200-day simple moving average is $61.72.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Wednesday, February 11th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.06. Sun Life Financial had a return on equity of 17.76% and a net margin of 8.48%.The firm had revenue of $973.53 million during the quarter, compared to analyst estimates of $973.53 million. During the same period last year, the business posted $1.68 earnings per share. Sell-side analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, February 25th will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Wednesday, February 25th. Sun Life Financial’s dividend payout ratio (DPR) is presently 61.36%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wall Street Zen cut shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Barclays reissued an “underweight” rating on shares of Sun Life Financial in a research report on Thursday, January 8th. TD Securities restated a “buy” rating on shares of Sun Life Financial in a research report on Thursday, February 12th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Sun Life Financial in a research note on Thursday, January 8th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Sun Life Financial in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $86.50.

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.