Evolve Private Wealth LLC Purchases New Position in Sun Life Financial Inc. $SLF

Key Points

• Evolve Private Wealth LLC purchased 17,270 shares of Sun Life Financial in the second quarter, valued at approximately $1.36 million. Several other institutional investors also initiated positions, with institutions and hedge funds owning 52.26% of the stock.
• Analyst sentiment is generally positive, with Sun Life carrying a consensus “Moderate Buy” rating and an average price target of $96.33. The company recently exceeded quarterly EPS estimates, reporting $1.46 versus the $1.39 consensus.
• Sun Life declared a quarterly dividend of $0.96 per share, equivalent to an annualized $3.84 and a 4.9% yield. Shares recently opened at $79.07, within their 52-week range of $57.22 to $84.38.

Evolve Private Wealth LLC bought a new stake in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,270 shares of the financial services provider's stock, valued at approximately $1,355,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Korea Investment CORP bought a new stake in shares of Sun Life Financial during the 2nd quarter valued at about $35,531,000. EP Wealth Advisors LLC bought a new position in Sun Life Financial in the second quarter worth about $543,000. Ieq Capital LLC purchased a new stake in Sun Life Financial in the second quarter worth about $1,919,000. Allworth Financial LP purchased a new stake in Sun Life Financial in the second quarter worth about $85,000. Finally, Vise Technologies Inc. bought a new stake in Sun Life Financial during the 2nd quarter valued at approximately $1,353,000. 52.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SLF shares. BMO Capital Markets reissued an "outperform" rating on shares of Sun Life Financial in a research report on Friday, May 8th. Evercore cut Sun Life Financial from an "outperform" rating to an "in-line" rating in a research note on Monday, July 13th. Argus set a $81.00 price objective on Sun Life Financial in a report on Wednesday, June 10th. Weiss Ratings raised Sun Life Financial from a "buy (b)" rating to a "buy (b+)" rating in a research report on Tuesday, August 11th. Finally, Canadian Imperial Bank of Commerce restated a "neutral" rating on shares of Sun Life Financial in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $96.33.

Sun Life Financial Stock Up 0.1%

Shares of SLF opened at $79.07 on Monday. The stock has a market cap of $44.07 billion, a P/E ratio of 18.48 and a beta of 0.88. The business's 50 day moving average price is $80.21 and its 200-day moving average price is $72.23. Sun Life Financial Inc. has a 52 week low of $57.22 and a 52 week high of $84.38.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its quarterly earnings data on Thursday, August 6th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts anticipate that Sun Life Financial Inc. will post 5.72 EPS for the current year.

Sun Life Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Wednesday, August 26th will be given a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Wednesday, August 26th. Sun Life Financial's payout ratio is currently 66.12%.

About Sun Life Financial

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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