Nuveen LLC Acquires New Position in Sun Life Financial Inc. $SLF

Key Points

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Nuveen LLC bought a new stake in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 404,285 shares of the financial services provider's stock, valued at approximately $23,135,000. Nuveen LLC owned 0.07% of Sun Life Financial at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Aigen Investment Management LP raised its position in shares of Sun Life Financial by 141.5% during the 1st quarter. Aigen Investment Management LP now owns 22,222 shares of the financial services provider's stock valued at $1,272,000 after buying an additional 13,022 shares in the last quarter. Benjamin Edwards Inc. raised its position in shares of Sun Life Financial by 3.4% during the 1st quarter. Benjamin Edwards Inc. now owns 5,052 shares of the financial services provider's stock valued at $289,000 after buying an additional 167 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Sun Life Financial by 2.4% during the 1st quarter. JPMorgan Chase & Co. now owns 2,548,672 shares of the financial services provider's stock valued at $145,937,000 after buying an additional 60,112 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Sun Life Financial by 7.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,957,785 shares of the financial services provider's stock valued at $283,792,000 after buying an additional 327,388 shares in the last quarter. Finally, Forsta AP Fonden raised its position in shares of Sun Life Financial by 0.4% during the 1st quarter. Forsta AP Fonden now owns 281,200 shares of the financial services provider's stock valued at $16,091,000 after buying an additional 1,100 shares in the last quarter. 52.26% of the stock is owned by institutional investors.

Sun Life Financial Stock Up 0.3%

Shares of NYSE:SLF traded up $0.1760 on Thursday, hitting $58.7360. The company had a trading volume of 420,591 shares, compared to its average volume of 691,237. The firm's 50-day simple moving average is $62.20 and its two-hundred day simple moving average is $59.78. Sun Life Financial Inc. has a 1 year low of $52.44 and a 1 year high of $66.81. The firm has a market capitalization of $33.08 billion, a price-to-earnings ratio of 14.54, a P/E/G ratio of 1.56 and a beta of 0.90.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its earnings results on Thursday, August 7th. The financial services provider reported $1.29 EPS for the quarter, hitting the consensus estimate of $1.29. Sun Life Financial had a net margin of 7.59% and a return on equity of 17.21%. The firm had revenue of $6.65 billion during the quarter, compared to analysts' expectations of $7.34 billion. During the same period last year, the company posted $1.11 EPS. Equities research analysts anticipate that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Wednesday, August 27th will be given a $0.6394 dividend. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $2.56 annualized dividend and a dividend yield of 4.4%. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.63. Sun Life Financial's dividend payout ratio is 63.12%.

Analyst Ratings Changes

Several research firms have recently weighed in on SLF. BMO Capital Markets restated an "outperform" rating on shares of Sun Life Financial in a research report on Monday, May 12th. National Bank Financial lowered shares of Sun Life Financial from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. Barclays lowered shares of Sun Life Financial from an "equal weight" rating to an "underweight" rating in a report on Monday, July 7th. Royal Bank Of Canada increased their target price 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, Scotiabank raised shares of Sun Life Financial to a "hold" rating in a report on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $88.00.

About Sun Life Financial

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.