Sun Life Financial Inc. (NYSE:SLF) Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its holdings in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 94.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 740,391 shares of the financial services provider's stock after acquiring an additional 359,539 shares during the period. Allianz Asset Management GmbH owned approximately 0.13% of Sun Life Financial worth $42,368,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in Sun Life Financial in the 4th quarter valued at approximately $382,176,000. Wellington Management Group LLP grew its holdings in Sun Life Financial by 2,071.4% in the fourth quarter. Wellington Management Group LLP now owns 1,350,751 shares of the financial services provider's stock valued at $80,160,000 after purchasing an additional 1,288,545 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Sun Life Financial by 71.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,867,939 shares of the financial services provider's stock valued at $170,068,000 after purchasing an additional 1,200,000 shares during the last quarter. Value Partners Investments Inc. increased its position in shares of Sun Life Financial by 1,002.9% in the first quarter. Value Partners Investments Inc. now owns 1,120,888 shares of the financial services provider's stock valued at $64,216,000 after buying an additional 1,019,254 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Sun Life Financial by 30.6% during the 4th quarter. Geode Capital Management LLC now owns 3,467,275 shares of the financial services provider's stock worth $210,080,000 after buying an additional 812,689 shares during the last quarter. Hedge funds and other institutional investors own 52.26% of the company's stock.

Sun Life Financial Stock Performance

SLF stock traded up $0.19 during trading on Friday, hitting $62.45. The stock had a trading volume of 343,957 shares, compared to its average volume of 728,997. The stock has a market cap of $35.17 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 1.67 and a beta of 0.91. The company's 50 day moving average price is $63.89 and its two-hundred day moving average price is $59.64. Sun Life Financial Inc. has a 1-year low of $46.41 and a 1-year high of $66.81.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.27 earnings per share for the quarter, beating analysts' consensus estimates of $1.22 by $0.05. The business had revenue of $7.91 billion during the quarter, compared to analyst estimates of $6.44 billion. Sun Life Financial had a net margin of 7.47% and a return on equity of 17.33%. During the same quarter in the previous year, the business posted $1.40 earnings per share. As a group, sell-side analysts forecast that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Wednesday, May 28th were paid a dividend of $0.6332 per share. This represents a $2.53 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date was Wednesday, May 28th. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.59. Sun Life Financial's dividend payout ratio is currently 64.89%.

Wall Street Analyst Weigh In

SLF has been the topic of several recent research reports. Barclays cut shares of Sun Life Financial from an "equal weight" rating to an "underweight" rating in a research note on Monday, July 7th. Scotiabank reiterated an "outperform" rating on shares of Sun Life Financial in a research report on Thursday, May 1st. BMO Capital Markets restated an "outperform" rating on shares of Sun Life Financial in a research report on Monday, May 12th. Finally, Royal Bank Of Canada upped their target price on Sun Life Financial from $82.00 to $88.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Sun Life Financial currently has a consensus rating of "Moderate Buy" and an average target price of $88.00.

Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.