BlackRock Inc. Takes Position in Sun Life Financial Inc. $SLF

BlackRock Inc. purchased a new position in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,040,385 shares of the financial services provider's stock, valued at approximately $81,587,000. BlackRock Inc. owned approximately 0.19% of Sun Life Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Louisbourg Investments Inc. lifted its position in Sun Life Financial by 3.0% during the first quarter. Louisbourg Investments Inc. now owns 5,105 shares of the financial services provider's stock worth $319,000 after buying an additional 150 shares during the period. Cornerstone Planning Group LLC boosted its holdings in Sun Life Financial by 68.4% in the 4th quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider's stock worth $26,000 after acquiring an additional 167 shares during the period. Candriam S.C.A. increased its stake in Sun Life Financial by 1.8% during the 1st quarter. Candriam S.C.A. now owns 9,794 shares of the financial services provider's stock worth $612,000 after buying an additional 177 shares during the period. HB Wealth Management LLC increased its position in shares of Sun Life Financial by 4.7% during the first quarter. HB Wealth Management LLC now owns 4,158 shares of the financial services provider's stock worth $260,000 after acquiring an additional 187 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of Sun Life Financial by 3.5% in the 1st quarter. Sei Investments Co. now owns 5,788 shares of the financial services provider's stock valued at $362,000 after purchasing an additional 196 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company's stock.

Sun Life Financial Stock Performance

NYSE:SLF opened at $78.82 on Monday. The stock's 50 day moving average price is $80.32 and its 200 day moving average price is $72.73. Sun Life Financial Inc. has a 52 week low of $57.22 and a 52 week high of $84.38. The company has a market capitalization of $43.93 billion, a P/E ratio of 18.42 and a beta of 0.88.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share for the quarter, beating 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 company had revenue of $10.10 billion for the quarter, compared to analyst estimates of $994.33 million. As a group, sell-side analysts forecast that Sun Life Financial Inc. will post 5.72 earnings per share for the current fiscal year.

Sun Life Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Wednesday, August 26th will be paid a dividend of $0.96 per share. The ex-dividend date is Wednesday, August 26th. This represents a $3.84 annualized dividend and a yield of 4.9%. Sun Life Financial's dividend payout ratio is presently 64.02%.

Analysts Set New Price Targets

SLF has been the topic of several research analyst reports. Barclays reaffirmed an "underweight" rating on shares of Sun Life Financial in a research report on Friday, August 7th. Wall Street Zen upgraded Sun Life Financial from a "sell" rating to a "hold" rating in a research note on Sunday, July 26th. Weiss Ratings raised Sun Life Financial from a "buy (b)" rating to a "buy (b+)" rating in a report on Tuesday, August 11th. TD Securities restated a "buy" rating on shares of Sun Life Financial in a research report on Friday, August 7th. Finally, Evercore cut Sun Life Financial from an "outperform" rating to an "in-line" rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Sun Life Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.33.

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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