Deutsche Bank AG Invests $84.17 Million in Sun Life Financial Inc. $SLF

Key Points

• Deutsche Bank AG acquired 1.07 million Sun Life Financial shares worth approximately $84.2 million in the second quarter, giving it a 0.19% stake. Institutional investors collectively own 52.26% of the company.
• Sun Life reported quarterly EPS of $1.46, exceeding analyst expectations of $1.39. Analysts assign the stock a “Moderate Buy” consensus rating with an average price target of $96.33.
• Sun Life declared a quarterly dividend of $0.96 per share, equivalent to an annualized $3.84 dividend and a 4.9% yield.

Deutsche Bank AG purchased a new stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,073,257 shares of the financial services provider's stock, valued at approximately $84,165,000. Deutsche Bank AG owned 0.19% of Sun Life Financial at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC purchased a new position in Sun Life Financial in the fourth quarter worth $244,000. AQR Capital Management LLC increased its holdings in shares of Sun Life Financial by 113.8% in the 1st quarter. AQR Capital Management LLC now owns 8,022 shares of the financial services provider's stock valued at $454,000 after purchasing an additional 4,270 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Sun Life Financial in the 2nd quarter valued at about $204,000. Prudential Financial Inc. acquired a new stake in shares of Sun Life Financial in the second quarter valued at about $232,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Sun Life Financial by 66.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,734 shares of the financial services provider's stock valued at $115,000 after purchasing an additional 692 shares during the period. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SLF. Barclays restated an "underweight" rating on shares of Sun Life Financial in a research report on Friday, August 7th. Royal Bank Of Canada lifted their price target on shares of Sun Life Financial from $98.00 to $119.00 and gave the company a "sector perform" rating in a research report on Monday, August 10th. TD Securities reissued a "buy" rating on shares of Sun Life Financial in a research note on Friday, August 7th. National Bank Financial upgraded Sun Life Financial from a "sector perform" rating to an "outperform" rating in a report on Friday, April 24th. Finally, Evercore downgraded Sun Life Financial from an "outperform" rating to an "in-line" rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $96.33.

Sun Life Financial Trading Down 1.6%

Shares of NYSE SLF opened at $78.25 on Friday. The stock has a market cap of $43.61 billion, a price-to-earnings ratio of 18.29 and a beta of 0.88. Sun Life Financial Inc. has a 52 week low of $57.22 and a 52 week high of $84.38. The company's 50-day moving average price is $80.16 and its 200 day moving average price is $72.12.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.07. Sun Life Financial had a net margin of 7.66% and a return on equity of 17.96%. The company had revenue of $10.10 billion during the quarter, compared to analysts' expectations of $994.33 million. As a group, research analysts expect that Sun Life Financial Inc. will post 5.72 earnings per share for the current year.

Sun Life Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Wednesday, August 26th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Wednesday, August 26th. Sun Life Financial's dividend payout ratio is 66.12%.

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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