Empowered Funds LLC Invests $1.58 Million in Sun Life Financial Inc. $SLF

Key Points

• Empowered Funds LLC purchased 20,149 shares of Sun Life Financial during the second quarter, representing an investment of approximately $1.58 million. Hedge funds and other institutional investors collectively own 52.26% of the company.
• Analysts maintain a generally positive outlook, with Sun Life carrying a consensus “Moderate Buy” rating and an average price target of $98.67. Argus recently raised its target to $88, while other firms reiterated buy, hold, or underweight ratings.
• Sun Life reported quarterly EPS of $1.46, exceeding the $1.39 consensus estimate, and announced a quarterly dividend of $0.96 per share. The annualized dividend of $3.84 implies a yield of approximately 4.8%.

Empowered Funds LLC purchased a new stake in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 20,149 shares of the financial services provider's stock, valued at approximately $1,580,000.

Other hedge funds have also recently bought and sold shares of the company. Louisbourg Investments Inc. boosted its position in Sun Life Financial by 3.0% during the 1st quarter. Louisbourg Investments Inc. now owns 5,105 shares of the financial services provider's stock worth $319,000 after acquiring an additional 150 shares during the period. Candriam S.C.A. grew 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 valued at $612,000 after acquiring an additional 177 shares in the last quarter. HB Wealth Management LLC increased its holdings in shares of Sun Life Financial by 4.7% in the 1st quarter. HB Wealth Management LLC now owns 4,158 shares of the financial services provider's stock valued at $260,000 after purchasing an additional 187 shares during the period. Sei Investments Co. lifted its position in shares of Sun Life Financial by 3.5% in the first quarter. Sei Investments Co. now owns 5,788 shares of the financial services provider's stock worth $362,000 after purchasing an additional 196 shares in the last quarter. Finally, Cumberland Partners Ltd lifted its position in shares of Sun Life Financial by 3.2% in the first quarter. Cumberland Partners Ltd now owns 6,678 shares of the financial services provider's stock worth $418,000 after purchasing an additional 209 shares in the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Argus raised their price target on shares of Sun Life Financial from $81.00 to $88.00 and gave the stock a "buy" rating in a report on Thursday. Barclays reiterated an "underweight" rating on shares of Sun Life Financial in a research note on Friday, August 7th. TD Cowen reiterated a "buy" rating on shares of Sun Life Financial in a research report on Thursday, May 7th. BMO Capital Markets reissued an "outperform" rating on shares of Sun Life Financial in a research note on Friday, May 8th. Finally, Scotiabank restated a "sector perform" rating on shares of Sun Life Financial in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Sun Life Financial presently has a consensus rating of "Moderate Buy" and an average target price of $98.67.

Sun Life Financial Price Performance

SLF opened at $80.73 on Friday. The company has a market capitalization of $44.94 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 1.98 and a beta of 0.87. Sun Life Financial Inc. has a fifty-two week low of $57.22 and a fifty-two week high of $84.38. The business has a 50-day moving average of $80.45 and a 200-day moving average of $73.07.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its quarterly earnings results on Thursday, August 6th. The financial services provider reported $1.46 EPS 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 business had revenue of $10.10 billion during the quarter, compared to analysts' expectations of $994.33 million. On average, equities research analysts expect 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. Shareholders of record on Wednesday, August 26th will be paid a $0.96 dividend. The ex-dividend date is Wednesday, August 26th. This represents a $3.84 dividend on an annualized basis and a yield of 4.8%. Sun Life Financial's payout ratio is 64.02%.

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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