Vise Technologies Inc. Invests $1.35 Million in Sun Life Financial Inc. $SLF

Vise Technologies Inc. purchased a new stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the second quarter, Holdings Channel.com reports. The firm purchased 17,248 shares of the financial services provider’s stock, valued at approximately $1,353,000.

Several other hedge funds have also made changes to their positions in the company. Cassaday & Co Wealth Management LLC acquired a new position in Sun Life Financial in the 1st quarter worth approximately $25,000. Cornerstone Planning Group LLC raised its stake in 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 purchasing an additional 167 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in Sun Life Financial during the 4th quarter valued at $30,000. Sittner & Nelson LLC purchased a new stake in shares of Sun Life Financial in the fourth quarter valued at $33,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of Sun Life Financial in the first quarter worth $33,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Price Performance

Sun Life Financial stock opened at $79.07 on Friday. The company has a market capitalization of $44.07 billion, a price-to-earnings ratio of 18.48 and a beta of 0.88. Sun Life Financial Inc. has a one year low of $57.22 and a one year high of $84.38. The company’s fifty day moving average price is $80.21 and its two-hundred day moving average price is $72.17.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.07. The company had revenue of $10.10 billion during the quarter, compared to analysts’ expectations of $994.33 million. Sun Life Financial had a return on equity of 17.96% and a net margin of 7.66%. As a group, 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Wednesday, August 26th will be paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Wednesday, August 26th. Sun Life Financial’s dividend payout ratio (DPR) is presently 66.12%.

Wall Street Analysts Forecast Growth

SLF has been the topic of a number of research analyst reports. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Sun Life Financial in a report on Friday, May 8th. Scotiabank reissued a “sector perform” rating on shares of Sun Life Financial in a research note on Monday, August 10th. TD Securities restated a “buy” rating on shares of Sun Life Financial in a research report on Friday, August 7th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Sun Life Financial in a research note on Friday, May 8th. Finally, Royal Bank Of Canada upped their target price on Sun Life Financial from $98.00 to $119.00 and gave the company a “sector perform” rating in a report on Monday, August 10th. One investment 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $96.33.

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.