Gulf International Bank UK Ltd Purchases 32,371 Shares of Sun Life Financial Inc. $SLF

Key Points

• Gulf International Bank UK Ltd significantly increased its stake in Sun Life Financial Inc. by 2,729.4% during the first quarter, acquiring an additional 32,371 shares, bringing its total holdings to 33,557 shares worth approximately $1.92 million.
• Various hedge funds have also made notable increases in their investments in Sun Life Financial, with over 52.26% of the stock currently owned by institutional investors.
• Sun Life Financial announced an increase in its quarterly dividend to $0.6394 per share, yielding about 4.4%, with the payment set for September 29th.

Gulf International Bank UK Ltd lifted its position in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 2,729.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,557 shares of the financial services provider's stock after buying an additional 32,371 shares during the period. Gulf International Bank UK Ltd's holdings in Sun Life Financial were worth $1,921,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Investment Management Corp VA ADV grew its stake in shares of Sun Life Financial by 164.5% in the 1st quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider's stock worth $35,000 after purchasing an additional 385 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of Sun Life Financial by 53.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 231 shares during the period. Financial Gravity Asset Management Inc. purchased a new stake in Sun Life Financial in the 1st quarter worth approximately $55,000. GeoWealth Management LLC boosted its position in Sun Life Financial by 4,657.1% during the fourth quarter. GeoWealth Management LLC now owns 999 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 978 shares during the last quarter. Finally, CX Institutional bought a new stake in shares of Sun Life Financial in the 1st quarter valued at approximately $109,000. Institutional investors own 52.26% of the company's stock.

Sun Life Financial Stock Up 0.1%

SLF traded up $0.08 during midday trading on Tuesday, reaching $58.45. 92,439 shares of the company's stock were exchanged, compared to its average volume of 692,382. The business has a 50-day simple moving average of $62.45 and a two-hundred day simple moving average of $59.80. The firm has a market capitalization of $32.92 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 1.56 and a beta of 0.90. Sun Life Financial Inc. has a one year low of $52.19 and a one year high of $66.81.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its quarterly earnings data on Thursday, August 7th. The financial services provider reported $1.29 earnings per share for the quarter, meeting the consensus estimate of $1.29. Sun Life Financial had a return on equity of 17.21% and a net margin of 7.59%.The company had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.34 billion. During the same period in the prior year, the company posted $1.11 EPS. As a group, research analysts anticipate that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Wednesday, August 27th will be issued a dividend of $0.6394 per share. The ex-dividend date of this dividend is Wednesday, August 27th. This is a boost from Sun Life Financial's previous quarterly dividend of $0.63. This represents a $2.56 dividend on an annualized basis and a dividend yield of 4.4%. Sun Life Financial's dividend payout ratio (DPR) is 62.87%.

Wall Street Analysts Forecast Growth

SLF has been the subject of several recent analyst reports. Royal Bank Of Canada upped their price target on Sun Life Financial from $82.00 to $88.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Barclays lowered shares of Sun Life Financial from an "equal weight" rating to an "underweight" rating in a research note on Monday, July 7th. National Bank Financial cut shares of Sun Life Financial from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. Scotiabank upgraded Sun Life Financial to a "hold" rating in a research note on Thursday, July 31st. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Sun Life Financial in a report on Monday, May 12th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $88.00.

Sun Life Financial Company Profile

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.