253,687 Shares in Sun Life Financial Inc. $SLF Acquired by OMERS ADMINISTRATION Corp

Key Points

• OMERS Administration Corp acquired 253,687 shares of Sun Life Financial during the second quarter, valued at approximately $19.9 million. Institutional investors collectively own 52.26% of the company.
• Analysts maintain a generally positive outlook, with Sun Life carrying a consensus “Moderate Buy” rating and an average price target of $96.33. The company also exceeded quarterly EPS estimates, reporting $1.46 versus expectations of $1.39.
• Sun Life declared a quarterly dividend of $0.96 per share, representing an annualized payout of $3.84 and a 4.9% yield; shares recently traded at $79.07.

OMERS ADMINISTRATION Corp acquired a new stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 253,687 shares of the financial services provider's stock, valued at approximately $19,911,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SLF. Vanguard Group Inc. grew its stake in Sun Life Financial by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 25,884,084 shares of the financial services provider's stock worth $1,615,788,000 after purchasing an additional 534,772 shares in the last quarter. Bank of Nova Scotia acquired a new position in shares of Sun Life Financial during the second quarter worth about $544,052,000. Norges Bank acquired a new position in shares of Sun Life Financial during the fourth quarter worth about $398,037,000. Geode Capital Management LLC increased its stake in shares of Sun Life Financial by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 5,529,609 shares of the financial services provider's stock worth $353,181,000 after buying an additional 347,041 shares during the period. Finally, Morgan Stanley raised its holdings in Sun Life Financial by 86.6% in the fourth quarter. Morgan Stanley now owns 3,952,646 shares of the financial services provider's stock valued at $246,645,000 after acquiring an additional 1,834,772 shares in the last quarter. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Sun Life Financial from a "buy (b)" rating to a "buy (b+)" rating in a research note on Tuesday, August 11th. Canadian Imperial Bank of Commerce restated 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 note on Friday, May 8th. Scotiabank reissued a "sector perform" rating on shares of Sun Life Financial in a report on Monday, August 10th. Finally, Wall Street Zen upgraded Sun Life Financial from a "sell" rating to a "hold" rating in a research note on Sunday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Sun Life Financial currently has an average rating of "Moderate Buy" and a consensus target price of $96.33.

Sun Life Financial Trading Up 0.1%

SLF stock opened at $79.07 on Monday. The stock has a market cap of $44.07 billion, a P/E ratio of 18.48 and a beta of 0.88. Sun Life Financial Inc. has a twelve month low of $57.22 and a twelve month high of $84.38. The company's 50 day moving average is $80.21 and its two-hundred day moving average is $72.23.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $994.33 million. On average, equities research analysts predict that Sun Life Financial Inc. will post 5.72 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, September 29th. Shareholders of record on Wednesday, August 26th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 4.9%. The ex-dividend date is Wednesday, August 26th. Sun Life Financial's dividend 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.

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