JCP Investment Management LLC Acquires Shares of 12,762 Sun Life Financial Inc. $SLF

Key Points

• JCP Investment Management acquired 12,762 Sun Life Financial shares worth approximately $798,000 in the first quarter, making the position 0.5% of its portfolio. Institutional investors collectively own 52.26% of the company.
• Sun Life reported quarterly EPS of $1.38, exceeding analysts’ $1.35 estimate, with revenue of $6.41 billion. Analysts expect full-year EPS of $5.69.
• The company raised its quarterly dividend to $0.96, or $3.84 annually, representing a 4.7% yield. Sun Life has a consensus “Moderate Buy” rating and an average price target of $84.67.

JCP Investment Management LLC bought a new stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 12,762 shares of the financial services provider's stock, valued at approximately $798,000. Sun Life Financial comprises approximately 0.5% of JCP Investment Management LLC's holdings, making the stock its 21st largest holding.

Several other hedge funds have also made changes to their positions in SLF. Cassaday & Co Wealth Management LLC purchased a new position in shares of Sun Life Financial during the first quarter worth about $25,000. Cornerstone Planning Group LLC raised its stake in Sun Life Financial by 68.4% during the 4th quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 167 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new stake in Sun Life Financial during the 4th quarter worth approximately $30,000. Sittner & Nelson LLC acquired a new stake in Sun Life Financial during the 4th quarter worth approximately $33,000. Finally, Scarborough Advisors LLC purchased a new position in shares of Sun Life Financial in the 1st quarter valued at approximately $33,000. Institutional investors and hedge funds own 52.26% of the company's stock.

Sun Life Financial Trading Down 0.1%

NYSE SLF opened at $82.19 on Monday. The stock has a market capitalization of $45.81 billion, a price-to-earnings ratio of 21.18 and a beta of 0.88. The business's 50 day moving average is $76.88 and its two-hundred day moving average is $69.60. Sun Life Financial Inc. has a 12-month low of $56.22 and a 12-month high of $82.44.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.38 EPS for the quarter, beating the consensus estimate of $1.35 by $0.03. Sun Life Financial had a return on equity of 17.80% and a net margin of 7.85%.The business had revenue of $6.41 billion during the quarter, compared to analysts' expectations of $925.99 million. During the same period last year, the firm earned $1.82 EPS. Equities analysts forecast that Sun Life Financial Inc. will post 5.69 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Wednesday, May 27th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 4.7%. This is an increase from Sun Life Financial's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Wednesday, May 27th. Sun Life Financial's dividend payout ratio is 72.68%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SLF shares. TD Securities reissued a "buy" rating on shares of Sun Life Financial in a report on Thursday, May 7th. Evercore lowered shares of Sun Life Financial from an "outperform" rating to an "in-line" rating in a research report on Monday, July 13th. Scotiabank reissued a "sector perform" rating on shares of Sun Life Financial in a research note on Wednesday, July 15th. Weiss Ratings reissued a "buy (b)" rating on shares of Sun Life Financial in a research note on Monday, July 6th. Finally, TD Cowen restated a "buy" rating on shares of Sun Life Financial in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Sun Life Financial has a consensus rating of "Moderate Buy" and a consensus target price of $84.67.

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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