PDT Partners LLC Invests $757,000 in Sun Life Financial Inc. $SLF

PDT Partners LLC bought a new position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,648 shares of the financial services provider’s stock, valued at approximately $757,000.

Several other hedge funds have also recently bought and sold shares of the business. Louisbourg Investments Inc. grew its stake in Sun Life Financial by 3.0% during the first quarter. Louisbourg Investments Inc. now owns 5,105 shares of the financial services provider’s stock worth $319,000 after buying an additional 150 shares during the period. Cornerstone Planning Group LLC raised its stake in shares of Sun Life Financial by 68.4% in the 4th quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 167 shares during the period. Candriam S.C.A. raised its stake in shares of Sun Life Financial by 1.8% in the 1st quarter. Candriam S.C.A. now owns 9,794 shares of the financial services provider’s stock valued at $612,000 after acquiring an additional 177 shares during the period. HB Wealth Management LLC lifted its holdings in shares of Sun Life Financial by 4.7% during the 1st quarter. HB Wealth Management LLC now owns 4,158 shares of the financial services provider’s stock valued at $260,000 after acquiring an additional 187 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Sun Life Financial by 3.5% during the 1st quarter. Sei Investments Co. now owns 5,788 shares of the financial services provider’s stock valued at $362,000 after acquiring an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SLF shares. Evercore downgraded Sun Life Financial from an “outperform” rating to an “in-line” rating in a report on Monday, July 13th. Royal Bank Of Canada boosted their price objective on Sun Life Financial from $98.00 to $119.00 and gave the stock a “sector perform” rating in a research note on Monday, August 10th. Argus set a $81.00 target price on Sun Life Financial in a research report on Wednesday, June 10th. TD Securities reiterated a “buy” rating on shares of Sun Life Financial in a research note on Friday, August 7th. Finally, Barclays reiterated an “underweight” rating on shares of Sun Life Financial in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Sun Life Financial presently has a consensus rating of “Moderate Buy” and an average target price of $96.33.

Sun Life Financial Price Performance

Shares of SLF stock opened at $78.64 on Friday. Sun Life Financial Inc. has a 12 month low of $57.22 and a 12 month high of $84.38. The firm has a market capitalization of $43.83 billion, a P/E ratio of 18.38 and a beta of 0.88. The company’s fifty day moving average price is $80.32 and its two-hundred day moving average price is $72.63.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share for the quarter, beating 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 company had revenue of $10.10 billion during 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 EPS for the current year.

Sun Life Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Wednesday, August 26th will be paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Wednesday, August 26th. Sun Life Financial’s dividend payout ratio (DPR) is 64.02%.

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.