17,987 Shares in Sun Life Financial Inc. $SLF Acquired by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP acquired 17,987 shares of Sun Life Financial during the second quarter, valued at approximately $1.4 million. Institutional investors collectively own 52.26% of the company.
• Sun Life reported quarterly earnings of $1.46 per share, exceeding the $1.39 consensus estimate, on revenue of $10.10 billion. Analysts expect full-year earnings of $5.72 per share.
• The company declared a quarterly dividend of $0.96 per share, equivalent to an annualized $3.84 payout and a 4.8% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $98.67.

Corient Private Wealth LP bought a new stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,987 shares of the financial services provider's stock, valued at approximately $1,411,000.

A number of other institutional investors have also made changes to their positions in the business. Bank of Nova Scotia bought a new stake in Sun Life Financial during the 2nd quarter worth about $544,052,000. Norges Bank acquired a new stake in Sun Life Financial in the 4th quarter valued at about $398,037,000. The Manufacturers Life Insurance Company bought a new position in shares of Sun Life Financial in the second quarter worth about $293,050,000. Canada Pension Plan Investment Board acquired a new position in shares of Sun Life Financial during the second quarter worth approximately $292,980,000. Finally, Legal & General Group Plc acquired a new position in shares of Sun Life Financial during the second quarter worth approximately $280,312,000. 52.26% of the stock is owned by institutional investors.

Sun Life Financial Price Performance

Shares of NYSE:SLF opened at $80.73 on Friday. The stock has a market cap of $44.94 billion, a price-to-earnings ratio of 18.87, a P/E/G ratio of 1.98 and a beta of 0.87. The company has a 50 day moving average of $80.45 and a 200-day moving average of $73.07. Sun Life Financial Inc. has a one year low of $57.22 and a one year high of $84.38.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its quarterly earnings data 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 net margin of 7.66% and a return on equity of 17.96%. The business had revenue of $10.10 billion for the quarter, compared to analyst estimates of $994.33 million. Equities research 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. Stockholders of record on Wednesday, August 26th will be paid a $0.96 dividend. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.8%. Sun Life Financial's dividend payout ratio is 64.02%.

Analyst Ratings Changes

SLF has been the subject of a number of research reports. UBS Group reissued a "neutral" rating on shares of Sun Life Financial in a report on Wednesday. Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of Sun Life Financial in a report on Friday, May 8th. BMO Capital Markets reiterated an "outperform" rating on shares of Sun Life Financial in a research report on Friday, May 8th. Barclays reissued an "underweight" rating on shares of Sun Life Financial in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded Sun Life Financial from a "sell" rating to a "hold" rating in a research report on Sunday, July 26th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.67.

About Sun Life Financial

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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