60,490 Shares in Sun Life Financial Inc. $SLF Acquired by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP acquired 60,490 Sun Life Financial shares worth approximately $4.74 million during the second quarter. Institutional investors and hedge funds collectively own 52.26% of the company.
• Analysts maintain a generally positive outlook, with Sun Life holding a consensus “Moderate Buy” rating and an average price target of $96.33.
• Sun Life reported quarterly EPS of $1.46, exceeding estimates by $0.07, and declared a quarterly dividend of $0.96 per share, representing a 4.9% annualized yield.

Quantbot Technologies LP purchased a new position in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 60,490 shares of the financial services provider's stock, valued at approximately $4,744,000.

Other hedge funds have also modified their holdings of the company. Evolve Private Wealth LLC acquired a new position in Sun Life Financial during the 2nd quarter worth approximately $1,355,000. Korea Investment CORP acquired a new stake in shares of Sun Life Financial in the 2nd quarter valued at $35,531,000. EP Wealth Advisors LLC purchased a new stake in shares of Sun Life Financial during the 2nd quarter worth $543,000. Ieq Capital LLC acquired a new position in shares of Sun Life Financial during the second quarter worth $1,919,000. Finally, Allworth Financial LP acquired a new position in shares of Sun Life Financial during the second quarter worth $85,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on SLF. Argus set a $81.00 price target on Sun Life Financial in a research note on Wednesday, June 10th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Sun Life Financial in a research report on Friday, May 8th. Weiss Ratings upgraded Sun Life Financial from a "buy (b)" rating to a "buy (b+)" rating in a research note on Tuesday, August 11th. Evercore lowered shares of Sun Life Financial from an "outperform" rating to an "in-line" rating in a research note on Monday, July 13th. Finally, Wall Street Zen raised shares of Sun Life Financial from a "sell" rating to a "hold" rating in a report on Sunday, July 26th. One equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $96.33.

Sun Life Financial Price Performance

Shares of NYSE:SLF opened at $79.07 on Friday. 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 1-year low of $57.22 and a 1-year high of $84.38. The firm has a fifty day moving average price of $80.21 and a 200 day moving average price of $72.17.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its earnings results on Thursday, August 6th. The financial services provider reported $1.46 EPS for the quarter, beating analysts' consensus estimates 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. Sell-side analysts expect that Sun Life Financial Inc. will post 5.72 EPS for the current fiscal year.

Sun Life Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Wednesday, August 26th will be issued a dividend of $0.96 per share. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $3.84 annualized dividend and a yield of 4.9%. Sun Life Financial's payout ratio is currently 66.12%.

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.

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