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ASR Vermogensbeheer N.V. Invests $1.28 Million in Sun Life Financial Inc. (NYSE:SLF)

Sun Life Financial logo with Finance background

Key Points

  • ASR Vermogensbeheer N.V. acquired a total of 22,416 shares of Sun Life Financial Inc., with the investment valued at approximately $1,283,000.
  • Analysts have a mixed outlook on Sun Life Financial, with an average rating of "Hold" and a price target increase from $82.00 to $88.00 by Royal Bank of Canada.
  • Sun Life Financial recently raised its quarterly dividend to $0.6394 per share, representing a 4.5% dividend yield.
  • Need better tools to track Sun Life Financial? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

ASR Vermogensbeheer N.V. purchased a new stake in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 22,416 shares of the financial services provider's stock, valued at approximately $1,283,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV lifted its holdings in shares of Sun Life Financial by 164.5% during the 1st quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider's stock worth $35,000 after acquiring an additional 385 shares during the period. Hexagon Capital Partners LLC grew its position in shares of Sun Life Financial by 53.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider's stock worth $38,000 after buying an additional 231 shares during the period. Financial Gravity Asset Management Inc. bought a new position in Sun Life Financial during the 1st quarter worth approximately $55,000. GeoWealth Management LLC lifted its stake in Sun Life Financial by 4,657.1% in the fourth quarter. GeoWealth Management LLC now owns 999 shares of the financial services provider's stock valued at $59,000 after buying an additional 978 shares in the last quarter. Finally, CX Institutional bought a new position in Sun Life Financial in the first quarter valued at approximately $109,000. Hedge funds and other institutional investors own 52.26% of the company's stock.

Sun Life Financial Stock Performance

Shares of SLF stock traded up $0.39 during trading hours on Monday, reaching $56.93. The company had a trading volume of 655,882 shares, compared to its average volume of 686,264. The business has a fifty day moving average price of $63.31 and a 200-day moving average price of $59.82. Sun Life Financial Inc. has a one year low of $47.87 and a one year high of $66.81. The firm has a market cap of $32.06 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 1.51 and a beta of 0.90.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its earnings results on Thursday, August 7th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.29. The firm had revenue of $6.65 billion during the quarter, compared to analyst estimates of $7.34 billion. Sun Life Financial had a net margin of 7.59% and a return on equity of 17.08%. During the same period in the previous year, the firm earned $1.11 earnings per share. Equities research analysts forecast that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Wednesday, August 27th will be paid a $0.6394 dividend. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $2.56 dividend on an annualized basis and a yield of 4.5%. This is an increase from Sun Life Financial's previous quarterly dividend of $0.63. Sun Life Financial's dividend payout ratio is 63.12%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Royal Bank Of Canada lifted their target price on shares of Sun Life Financial from $82.00 to $88.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Barclays lowered shares of Sun Life Financial from an "equal weight" rating to an "underweight" rating in a report on Monday, July 7th. Scotiabank upgraded shares of Sun Life Financial to a "hold" rating in a report on Thursday, July 31st. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Sun Life Financial in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $88.00.

Read Our Latest Analysis on SLF

Sun Life Financial Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Sun Life Financial (NYSE:SLF)

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