M&T Bank Corp Acquires 37,539 Shares of Sun Life Financial Inc. $SLF

Key Points

• M&T Bank Corp raised its stake in Sun Life Financial by 126.2%, buying 37,539 shares to own 67,287 shares valued at $4.199 million.
• Sun Life beat quarterly EPS with $1.41 vs. $1.35 expected and revenue in line, while analysts hold a consensus "Moderate Buy" with an average target of $86.50.
• The company pays a quarterly dividend of $0.92 (annualized $3.68) for a 5.1% yield; the stock trades near $71.57 with a market cap of $39.65 billion and a 52‑week range of $56.22–$72.06.

M&T Bank Corp raised its holdings in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 126.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,287 shares of the financial services provider's stock after buying an additional 37,539 shares during the period. M&T Bank Corp's holdings in Sun Life Financial were worth $4,199,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its holdings in Sun Life Financial by 16.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,302 shares of the financial services provider's stock worth $78,000 after acquiring an additional 186 shares during the last quarter. HB Wealth Management LLC raised its holdings in shares of Sun Life Financial by 5.8% in the third quarter. HB Wealth Management LLC now owns 3,777 shares of the financial services provider's stock valued at $227,000 after purchasing an additional 208 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Sun Life Financial by 1.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,916 shares of the financial services provider's stock valued at $824,000 after purchasing an additional 222 shares in the last quarter. Westside Investment Management Inc. lifted its position in shares of Sun Life Financial by 38.6% during the third quarter. Westside Investment Management Inc. now owns 801 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 223 shares in the last quarter. Finally, OneDigital Investment Advisors LLC boosted its holdings in Sun Life Financial by 7.9% during the third quarter. OneDigital Investment Advisors LLC now owns 3,357 shares of the financial services provider's stock worth $202,000 after purchasing an additional 246 shares during the last quarter. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Sun Life Financial Stock Performance

SLF stock opened at $71.57 on Monday. The stock has a fifty day moving average of $65.29 and a 200-day moving average of $62.86. Sun Life Financial Inc. has a fifty-two week low of $56.22 and a fifty-two week high of $72.06. The company has a market capitalization of $39.65 billion, a price-to-earnings ratio of 16.27 and a beta of 0.87.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.35 by $0.06. The business had revenue of $973.53 million for the quarter, compared to analysts' expectations of $973.53 million. Sun Life Financial had a return on equity of 17.76% and a net margin of 8.48%.During the same period in the previous year, the business posted $1.68 EPS. Equities analysts predict that Sun Life Financial Inc. will post 5.7 EPS for the current year.

Sun Life Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Wednesday, February 25th were issued a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $3.68 annualized dividend and a yield of 5.1%. Sun Life Financial's dividend payout ratio (DPR) is 61.36%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SLF. Barclays restated an "underweight" rating on shares of Sun Life Financial in a research note on Thursday, January 8th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Sun Life Financial in a research report on Friday, February 13th. Scotiabank reissued a "sector perform" rating on shares of Sun Life Financial in a research report on Thursday, February 5th. Canadian Imperial Bank of Commerce restated a "neutral" rating on shares of Sun Life Financial in a research note on Thursday, January 8th. Finally, National Bank Financial raised Sun Life Financial from a "sector perform" rating to an "outperform" rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $86.50.

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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