MQS Management LLC Takes Position in Sun Life Financial Inc. (NYSE:SLF)

MQS Management LLC bought a new stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,891 shares of the financial services provider's stock, valued at approximately $395,000.

Other hedge funds have also recently made changes to their positions in the company. Hexagon Capital Partners LLC raised its stake in shares of Sun Life Financial by 53.2% in the first 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. bought a new stake in shares of Sun Life Financial during the 1st quarter valued at $55,000. GeoWealth Management LLC raised its stake in shares of 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 purchasing an additional 978 shares during the period. CX Institutional bought a new stake in shares of Sun Life Financial during the 1st quarter valued at $109,000. Finally, Blue Trust Inc. raised its stake in shares of Sun Life Financial by 7.6% during the 1st quarter. Blue Trust Inc. now owns 3,437 shares of the financial services provider's stock valued at $197,000 after purchasing an additional 243 shares during the period. 52.26% of the stock is currently owned by institutional investors.

Sun Life Financial Trading Down 0.4%

Shares of SLF traded down $0.23 during midday trading on Thursday, reaching $62.22. The stock had a trading volume of 446,015 shares, compared to its average volume of 629,049. The company's 50-day moving average is $63.92 and its 200 day moving average is $59.50. Sun Life Financial Inc. has a 12-month low of $46.41 and a 12-month high of $66.81. The company has a market capitalization of $35.07 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 1.68 and a beta of 0.91.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $6.44 billion. During the same period in the prior year, the business earned $1.40 EPS. Research analysts forecast that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Wednesday, May 28th were issued a $0.6332 dividend. This is a boost from Sun Life Financial's previous quarterly dividend of $0.59. This represents a $2.53 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend was Wednesday, May 28th. Sun Life Financial's dividend payout ratio is presently 64.89%.

Analysts Set New Price Targets

SLF has been the topic of a number of analyst reports. BMO Capital Markets reiterated an "outperform" rating on shares of Sun Life Financial in a research note on Monday, May 12th. Royal Bank Of Canada boosted their target price on Sun Life Financial from $82.00 to $88.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Barclays cut Sun Life Financial from an "equal weight" rating to an "underweight" rating in a research report on Monday, July 7th. Finally, Scotiabank restated an "outperform" rating on shares of Sun Life Financial in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.