Nykredit A S Takes Position in Sun Life Financial Inc. $SLF

Key Points

• Nykredit A/S acquired 113,016 shares of Sun Life Financial in the second quarter, valued at approximately $8.87 million. Institutional investors collectively own 52.26% of the company.
• Analysts maintain a generally positive but cautious outlook, with Sun Life carrying a “Moderate Buy” consensus rating and an average price target of $98.67.
• Sun Life reported quarterly earnings of $1.46 per share, exceeding estimates, and declared a quarterly dividend of $0.96, representing a 4.7% annualized yield.

Nykredit A S bought a new stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 113,016 shares of the financial services provider's stock, valued at approximately $8,870,000.

A number of other hedge funds have also recently added to or reduced their stakes in SLF. Cassaday & Co Wealth Management LLC acquired a new stake in Sun Life Financial during the first quarter valued at $25,000. Sittner & Nelson LLC acquired a new stake in shares of Sun Life Financial during the 4th quarter valued at about $33,000. Scarborough Advisors LLC acquired a new stake in shares of Sun Life Financial during the 1st quarter valued at about $33,000. First Bancorp Inc ME purchased a new position in shares of Sun Life Financial in the 2nd quarter valued at about $35,000. Finally, Manchester Capital Management LLC acquired a new position in Sun Life Financial in the 4th quarter worth about $49,000. 52.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SLF. Evercore downgraded Sun Life Financial from an "outperform" rating to an "in-line" rating in a research report on Monday, July 13th. Scotiabank reaffirmed a "sector perform" rating on shares of Sun Life Financial in a research note on Monday, August 10th. UBS Group reiterated a "neutral" rating on shares of Sun Life Financial in a research report on Wednesday, September 2nd. Wall Street Zen raised shares of Sun Life Financial from a "sell" rating to a "hold" rating in a research note on Sunday, July 26th. Finally, Barclays reissued an "underweight" rating on shares of Sun Life Financial in a report 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 assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Sun Life Financial currently has a consensus rating of "Moderate Buy" and an average price target of $98.67.

Sun Life Financial Stock Performance

Shares of SLF opened at $81.28 on Monday. The stock has a 50 day moving average price of $80.68 and a 200 day moving average price of $74.18. Sun Life Financial Inc. has a one year low of $57.22 and a one year high of $84.38. The stock has a market capitalization of $45.19 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 2.02 and a beta of 0.87.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its quarterly earnings data 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 company had revenue of $10.10 billion for the quarter, compared to analyst estimates of $994.33 million. On average, analysts predict that Sun Life Financial Inc. will post 5.74 earnings per share for the current year.

Sun Life Financial Dividend Announcement

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 paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Wednesday, August 26th. Sun Life Financial's dividend payout ratio (DPR) is currently 64.02%.

About Sun Life Financial

Sun Life Financial Inc is a Canada-based financial services company that provides insurance, wealth, and asset management products to individuals, businesses, and institutions. Its offerings include life, health, and dental insurance; retirement and investment solutions; group benefits; and financial planning services.

Through its asset management operations, Sun Life serves institutional and individual investors with investment management and related advisory services. The company also provides workplace benefit and retirement programs designed to support employers and their employees.

Founded in 1865, Sun Life serves customers in Canada, the United States, the United Kingdom, and several markets in Asia.

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