Jupiter Asset Management Ltd. Buys Shares of 890,680 Sun Life Financial Inc. (NYSE:SLF)

Key Points

• Jupiter Asset Management Ltd. acquired 890,680 shares of Sun Life Financial Inc., valued at approximately $50.97 million, according to their latest SEC filing.
• Sun Life Financial recently reported earnings of $1.27 per share, exceeding analyst expectations by $0.05, with revenue of $7.91 billion for the quarter.
• The company has increased its quarterly dividend to $0.6332 per share, representing an annual yield of 4.2%, up from the previous dividend of $0.59.

Jupiter Asset Management Ltd. bought a new stake in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 890,680 shares of the financial services provider's stock, valued at approximately $50,968,000. Jupiter Asset Management Ltd. owned 0.16% of Sun Life Financial at the end of the most recent quarter.

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

Sun Life Financial Trading Down 1.0%

Shares of SLF opened at $60.38 on Friday. The business's 50-day moving average price is $63.68 and its 200 day moving average price is $59.75. The stock has a market capitalization of $34.00 billion, a P/E ratio of 15.36, a P/E/G ratio of 1.63 and a beta of 0.91. Sun Life Financial Inc. has a 1-year low of $46.41 and a 1-year high of $66.81.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.05. Sun Life Financial had a return on equity of 17.33% and a net margin of 7.47%. The firm had revenue of $7.91 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same period in the prior year, the business earned $1.40 EPS. On average, research analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Wednesday, May 28th were paid a dividend of $0.6332 per share. This is a boost from Sun Life Financial's previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $2.53 annualized dividend and a yield of 4.2%. Sun Life Financial's dividend payout ratio (DPR) is presently 64.89%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SLF shares. Barclays downgraded shares of Sun Life Financial from an "equal weight" rating to an "underweight" rating in a report on Monday, July 7th. Scotiabank reissued an "outperform" rating on shares of Sun Life Financial in a report on Thursday, May 1st. Royal Bank Of Canada upped their price target on shares of Sun Life Financial from $82.00 to $88.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Sun Life Financial in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.00.

Sun Life Financial 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.

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