Amundi Increases Stock Position in Sun Life Financial Inc. $SLF

Key Points

• Amundi increased its Sun Life Financial stake by 10% in the second quarter, purchasing 117,210 additional shares to hold 1.29 million shares valued at approximately $101.5 million. Institutional investors collectively own 52.26% of the company.
• Sun Life reported quarterly EPS of $1.46, exceeding the $1.39 consensus estimate. The company has a market capitalization of $47.81 billion and analysts expect full-year EPS of $5.74.
• Sun Life declared a quarterly dividend of $0.96 per share, equivalent to an annualized $3.84 payout and a 4.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $98.67.

Amundi lifted its holdings in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 10.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,293,691 shares of the financial services provider's stock after buying an additional 117,210 shares during the quarter. Amundi owned approximately 0.23% of Sun Life Financial worth $101,451,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cassaday & Co Wealth Management LLC bought a new position in shares of Sun Life Financial during the first quarter valued at $25,000. Brown Brothers Harriman & Co. bought a new position in Sun Life Financial in the 4th quarter worth about $30,000. Sittner & Nelson LLC purchased a new stake in Sun Life Financial during the 4th quarter valued at about $33,000. Scarborough Advisors LLC bought a new stake in Sun Life Financial during the 1st quarter valued at about $33,000. Finally, First Bancorp Inc ME bought a new stake in Sun Life Financial during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 52.26% of the company's stock.

Sun Life Financial Stock Performance

NYSE:SLF opened at $78.50 on Thursday. The stock has a 50-day simple moving average of $80.58 and a two-hundred day simple moving average of $73.44. Sun Life Financial Inc. has a 52-week low of $57.22 and a 52-week high of $84.38. The firm has a market capitalization of $47.81 billion, a PE ratio of 18.35, a P/E/G ratio of 1.98 and a beta of 0.87.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings data on Thursday, August 6th. The financial services provider reported $1.46 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $10.10 billion for the quarter, compared to the consensus estimate of $994.33 million. Equities analysts forecast that Sun Life Financial Inc. will post 5.74 earnings per share 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. 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 4.9%. Sun Life Financial's dividend payout ratio is 64.02%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SLF shares. Barclays reiterated an "underweight" rating on shares of Sun Life Financial in a research note on Friday, August 7th. TD Securities reissued a "buy" rating on shares of Sun Life Financial in a research report on Friday, August 7th. Wall Street Zen upgraded shares of Sun Life Financial from a "sell" rating to a "hold" rating in a report on Sunday, July 26th. Argus increased their target price on Sun Life Financial from $81.00 to $88.00 and gave the company a "buy" rating in a research note on Thursday, September 3rd. Finally, Evercore lowered Sun Life Financial from an "outperform" rating to an "in-line" rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $98.67.

Sun Life Financial Company Profile

Sun Life Financial Inc is a Canada-based financial services company that provides insurance, wealth, and asset management products to individuals, businesses, and institutions. Its offerings include life, health, and dental insurance; retirement and investment solutions; group benefits; and financial planning services.

Through its asset management operations, Sun Life serves institutional and individual investors with investment management and related advisory services. The company also provides workplace benefit and retirement programs designed to support employers and their employees.

Founded in 1865, Sun Life serves customers in Canada, the United States, the United Kingdom, and several markets in Asia.

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