Northwestern Mutual Wealth Management Co. Takes Position in Sun Life Financial Inc. $SLF

Key Points

• Northwestern Mutual Wealth Management acquired 24,118 shares of Sun Life Financial during the second quarter, valued at approximately $1.89 million. Several other institutional investors also initiated positions, with institutions collectively owning 52.26% of the company.
• Sun Life Financial reported quarterly earnings of $1.46 per share, beating analyst expectations of $1.39, while generating $10.10 billion in revenue. Analysts forecast full-year earnings of $5.72 per share.
• The company declared a quarterly dividend of $0.96 per share, representing an annualized payout of $3.84 and a 4.9% yield. Analyst sentiment is moderately bullish, with an average target price of $96.33 versus the stock’s reported price of $79.09.

Northwestern Mutual Wealth Management Co. acquired a new stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 24,118 shares of the financial services provider's stock, valued at approximately $1,891,000.

A number of other large investors also recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in shares of Sun Life Financial during the second quarter worth about $4,744,000. Evolve Private Wealth LLC acquired a new stake in Sun Life Financial in the second quarter valued at about $1,355,000. Korea Investment CORP purchased a new stake in Sun Life Financial in the 2nd quarter valued at approximately $35,531,000. EP Wealth Advisors LLC purchased a new stake in Sun Life Financial in the 2nd quarter valued at approximately $543,000. Finally, Ieq Capital LLC acquired a new position in Sun Life Financial during the 2nd quarter worth approximately $1,919,000. Hedge funds and other institutional investors own 52.26% of the company's stock.

Sun Life Financial Stock Performance

Shares of SLF stock opened at $79.09 on Tuesday. The stock has a fifty day moving average price of $80.26 and a 200 day moving average price of $72.33. The stock has a market cap of $44.08 billion, a PE ratio of 18.49 and a beta of 0.88. Sun Life Financial Inc. has a 1 year low of $57.22 and a 1 year high of $84.38.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced 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. Sun Life Financial had a return on equity of 17.96% and a net margin of 7.66%.The business had revenue of $10.10 billion during the quarter, compared to analysts' expectations of $994.33 million. As a group, equities research analysts predict that Sun Life Financial Inc. will post 5.72 earnings per share for the current year.

Sun Life Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Wednesday, August 26th will be given a $0.96 dividend. The ex-dividend date is Wednesday, August 26th. This represents a $3.84 annualized dividend and a dividend yield of 4.9%. Sun Life Financial's dividend payout ratio is currently 66.12%.

Analyst Ratings Changes

SLF has been the subject of several recent analyst reports. Weiss Ratings raised Sun Life Financial from a "buy (b)" rating to a "buy (b+)" rating in a report on Tuesday, August 11th. TD Securities reaffirmed a "buy" rating on shares of Sun Life Financial in a report on Friday, August 7th. Argus set a $81.00 target price on Sun Life Financial in a report on Wednesday, June 10th. Evercore lowered shares of Sun Life Financial from an "outperform" rating to an "in-line" rating in a research report on Monday, July 13th. Finally, Barclays reaffirmed an "underweight" rating on shares of Sun Life Financial in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Sun Life Financial presently has an average rating of "Moderate Buy" and an average target price of $96.33.

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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