HBK Sorce Advisory LLC Purchases Shares of 18,460 Sun Life Financial Inc. $SLF

Key Points

• HBK Sorce Advisory LLC purchased 18,460 shares of Sun Life Financial during the second quarter, valued at approximately $1.51 million. Institutional investors now own 52.26% of the company.
• Sun Life Financial reported quarterly earnings of $1.46 per share, exceeding analyst expectations of $1.39, on revenue of $10.10 billion.
• The company declared a quarterly dividend of $0.96 per share, equivalent to an annualized dividend of $3.84 and a 4.7% yield. Analysts maintain a consensus “Moderate Buy” rating with a $96.33 price target.

HBK Sorce Advisory LLC acquired a new position in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 18,460 shares of the financial services provider's stock, valued at approximately $1,511,000.

Several other large investors also recently added to or reduced their stakes in SLF. Brighton Jones LLC purchased a new position in shares of Sun Life Financial during the 4th quarter worth $244,000. AQR Capital Management LLC boosted its stake in shares of Sun Life Financial by 113.8% in the first quarter. AQR Capital Management LLC now owns 8,022 shares of the financial services provider's stock worth $454,000 after acquiring an additional 4,270 shares during the period. Sivia Capital Partners LLC purchased a new stake in Sun Life Financial during the 2nd quarter valued at approximately $204,000. Prudential Financial Inc. bought a new stake in shares of Sun Life Financial during the second quarter valued at approximately $232,000. Finally, EverSource Wealth Advisors LLC lifted its holdings 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 worth $115,000 after buying an additional 692 shares in the last quarter. 52.26% of the stock is currently owned by institutional investors.

Sun Life Financial Stock Performance

Shares of SLF opened at $81.33 on Monday. The company's fifty day moving average is $79.74 and its 200 day moving average is $71.66. Sun Life Financial Inc. has a fifty-two week low of $57.22 and a fifty-two week high of $84.38. The stock has a market capitalization of $45.33 billion, a PE ratio of 19.01 and a beta of 0.88.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its quarterly earnings data 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 net margin of 7.66% and a return on equity of 17.96%. The business had revenue of $10.10 billion during the quarter, compared to analyst estimates of $994.33 million. As a group, research analysts forecast that Sun Life Financial Inc. will post 5.72 earnings per share for the current year.

Sun Life Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Wednesday, August 26th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.7%. Sun Life Financial's dividend payout ratio (DPR) is presently 66.12%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Evercore lowered shares of Sun Life Financial from an "outperform" rating to an "in-line" rating in a research report on Monday, July 13th. Barclays reiterated an "underweight" rating on shares of Sun Life Financial in a report on Friday, August 7th. Scotiabank reissued a "sector perform" rating on shares of Sun Life Financial in a report on Monday, August 10th. TD Securities restated a "buy" rating on shares of Sun Life Financial in a research report on Friday, August 7th. Finally, Weiss Ratings raised Sun Life Financial from a "buy (b)" rating to a "buy (b+)" rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $96.33.

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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