Jupiter Topco LLC Buys Shares of 73,657 Sun Life Financial Inc. $SLF

Key Points

• Jupiter Topco LLC acquired 73,657 shares of Sun Life Financial during the second quarter, valued at approximately $5.77 million. Institutional investors and hedge funds collectively own 52.26% of the company.
• Sun Life Financial reported quarterly earnings of $1.46 per share, exceeding analyst expectations of $1.39. Analysts currently have a consensus “Moderate Buy” rating and an average price target of $96.33.
• The company declared a quarterly dividend of $0.96 per share, equivalent to $3.84 annually and a 4.9% yield.

Jupiter Topco LLC purchased a new position in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 73,657 shares of the financial services provider's stock, valued at approximately $5,774,000.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC purchased a new stake in Sun Life Financial during the 4th quarter worth approximately $244,000. AQR Capital Management LLC boosted its position in Sun Life Financial by 113.8% in the 1st quarter. AQR Capital Management LLC now owns 8,022 shares of the financial services provider's stock valued at $454,000 after buying an additional 4,270 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Sun Life Financial in the second quarter worth $204,000. Prudential Financial Inc. acquired a new position in shares of Sun Life Financial in the second quarter worth $232,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Sun Life Financial by 66.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,734 shares of the financial services provider's stock worth $115,000 after acquiring an additional 692 shares during the period. Institutional investors and hedge funds own 52.26% of the company's stock.

Sun Life Financial Trading Down 0.4%

Shares of SLF stock opened at $78.47 on Tuesday. The firm has a fifty day moving average price of $80.34 and a 200 day moving average price of $72.82. The company has a market cap of $43.73 billion, a P/E ratio of 18.34 and a beta of 0.88. Sun Life Financial Inc. has a 12 month low of $57.22 and a 12 month high of $84.38.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.07. The company had revenue of $10.10 billion for the quarter, compared to analysts' expectations of $994.33 million. Sun Life Financial had a return on equity of 17.96% and a net margin of 7.66%. On average, equities analysts forecast that Sun Life Financial Inc. will post 5.72 EPS for the current year.

Sun Life Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Wednesday, August 26th will be given a dividend of $0.96 per share. 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 dividend payout ratio (DPR) is 64.02%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SLF shares. Argus set a $81.00 target price on Sun Life Financial in a report on Wednesday, June 10th. Barclays restated an "underweight" rating on shares of Sun Life Financial in a report on Friday, August 7th. Scotiabank reiterated a "sector perform" rating on shares of Sun Life Financial in a research note on Monday, August 10th. TD Cowen reissued a "buy" rating on shares of Sun Life Financial in a research report on Thursday, May 7th. Finally, TD Securities restated a "buy" rating on shares of Sun Life Financial in a research note on Friday, August 7th. One 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's stock. According to data from MarketBeat.com, Sun Life Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.33.

Sun Life Financial Company 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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