Alberta Investment Management Corp Invests $99.93 Million in Sun Life Financial Inc. $SLF

Key Points

• Alberta Investment Management Corp. acquired 1.27 million Sun Life Financial shares worth approximately $99.93 million in the second quarter, making SLF about 0.6% of its portfolio and its 23rd-largest holding.
• Analysts maintain a generally positive outlook, with Sun Life receiving a consensus “Moderate Buy” rating and an average price target of $96.33.
• Sun Life reported quarterly EPS of $1.46, exceeding expectations of $1.39, and declared a quarterly dividend of $0.96 per share—an annualized yield of approximately 4.7%.

Alberta Investment Management 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 13F filing with the Securities and Exchange Commission. The fund acquired 1,274,072 shares of the financial services provider's stock, valued at approximately $99,930,000. Sun Life Financial accounts for about 0.6% of Alberta Investment Management Corp's holdings, making the stock its 23rd largest position. Alberta Investment Management Corp owned approximately 0.23% of Sun Life Financial at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SLF. Cassaday & Co Wealth Management LLC purchased a new position in shares of Sun Life Financial during the 1st quarter worth approximately $25,000. Cornerstone Planning Group LLC raised its position in Sun Life Financial by 68.4% in the fourth 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. purchased a new stake in Sun Life Financial in the fourth quarter valued at approximately $30,000. Sittner & Nelson LLC acquired a new position in Sun Life Financial during the fourth quarter worth $33,000. Finally, Scarborough Advisors LLC purchased a new position in shares of Sun Life Financial during the first quarter worth $33,000. Institutional investors and hedge funds own 52.26% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SLF. TD Securities reiterated a "buy" rating on shares of Sun Life Financial in a report on Friday, August 7th. Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of Sun Life Financial in a research report on Friday, May 8th. Scotiabank reiterated a "sector perform" rating on shares of Sun Life Financial in a research note on Monday, August 10th. BMO Capital Markets reissued an "outperform" rating on shares of Sun Life Financial in a research report on Friday, May 8th. Finally, Weiss Ratings raised shares of Sun Life Financial from a "buy (b)" rating to a "buy (b+)" rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $96.33.

Sun Life Financial Price Performance

SLF opened at $81.33 on Monday. The business has a fifty day moving average price of $79.74 and a 200 day moving average price of $71.66. Sun Life Financial Inc. has a 12 month low of $57.22 and a 12 month high of $84.38. The stock has a market capitalization of $45.33 billion, a price-to-earnings ratio of 19.01 and a beta of 0.88.

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 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $10.10 billion during the quarter, compared to the consensus estimate of $994.33 million. On average, 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Wednesday, August 26th will be given 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 4.7%. 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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