7,494 Shares in Sun Life Financial Inc. $SLF Bought by Tacita Capital Inc

Tacita Capital Inc bought a new stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,494 shares of the financial services provider’s stock, valued at approximately $587,000.

Other hedge funds have also bought and sold shares of the company. Cassaday & Co Wealth Management LLC bought a new position in shares of Sun Life Financial in the first quarter worth about $25,000. Cornerstone Planning Group LLC lifted its position in shares of Sun Life Financial by 68.4% during the 4th quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider’s stock valued at $26,000 after buying an additional 167 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of Sun Life Financial during the 4th quarter valued at approximately $30,000. Sittner & Nelson LLC bought a new position in shares of Sun Life Financial during the 4th quarter valued at approximately $33,000. Finally, Scarborough Advisors LLC purchased a new stake in Sun Life Financial in the 1st quarter worth approximately $33,000. Institutional investors own 52.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Wall Street Zen upgraded shares of Sun Life Financial from a “sell” rating to a “hold” rating in a research note on Sunday, July 26th. Evercore cut shares of Sun Life Financial from an “outperform” rating to an “in-line” rating in a research note on Monday, July 13th. Barclays restated an “underweight” rating on shares of Sun Life Financial in a research report on Friday, August 7th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Sun Life Financial in a research note on Friday, May 8th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Sun Life Financial in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $96.33.

Sun Life Financial Price Performance

Shares of SLF opened at $79.59 on Thursday. The firm has a market cap of $44.36 billion, a P/E ratio of 18.60 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 company has a 50 day simple moving average of $80.11 and a two-hundred day simple moving average of $72.02.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its 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 net margin of 7.66% and a return on equity of 17.96%. The firm had revenue of $10.10 billion for the quarter, compared to the consensus estimate of $994.33 million. On average, sell-side analysts anticipate that Sun Life Financial Inc. will post 5.72 earnings per share for the current year.

Sun Life Financial Dividend Announcement

The business also recently declared 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. This represents a $3.84 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Wednesday, August 26th. Sun Life Financial’s payout ratio is currently 66.12%.

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.