Pictet Asset Management Holding SA Increases Stake in Sun Life Financial Inc. $SLF

Key Points

• Pictet Asset Management boosted its stake in Sun Life by 8.4% in Q4 to 329,274 shares (about $20.58M), while institutional investors collectively own 52.26% of the company.
• Analysts hold a consensus rating of Moderate Buy with an average target of $86.50, though individual ratings are mixed (including recent upgrades and downgrades).
• Sun Life shares opened at $72.36 (near a 52‑week high of $72.82), the company has a $40.09B market cap and P/E of 16.44, and pays a quarterly dividend of $0.92 (annualized $3.68) for a ~5.1% yield.

Pictet Asset Management Holding SA boosted its holdings in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 8.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 329,274 shares of the financial services provider's stock after buying an additional 25,540 shares during the quarter. Pictet Asset Management Holding SA owned 0.06% of Sun Life Financial worth $20,582,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Smartleaf Asset Management LLC raised its stake in shares of Sun Life Financial by 184.1% in the third quarter. Smartleaf Asset Management LLC now owns 588 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 381 shares in the last quarter. Westside Investment Management Inc. grew its stake in Sun Life Financial by 38.6% during the 3rd quarter. Westside Investment Management Inc. now owns 801 shares of the financial services provider's stock worth $48,000 after purchasing an additional 223 shares in the last quarter. LOM Asset Management Ltd purchased a new stake in Sun Life Financial during the 4th quarter worth about $53,000. Grey Fox Wealth Advisors LLC acquired a new stake in Sun Life Financial in the 3rd quarter valued at about $62,000. Finally, Triumph Capital Management purchased a new position in shares of Sun Life Financial in the 3rd quarter valued at about $64,000. Institutional investors and hedge funds own 52.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SLF shares. National Bank Financial upgraded shares of Sun Life Financial from a "sector perform" rating to an "outperform" rating in a research note on Friday, April 24th. Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of Sun Life Financial in a research report on Thursday, January 8th. Royal Bank Of Canada restated a "sector perform" rating on shares of Sun Life Financial in a report on Friday, February 13th. Wall Street Zen downgraded shares of Sun Life Financial from a "buy" rating to a "hold" rating in a research note on Sunday, March 8th. Finally, TD Securities reissued a "buy" rating on shares of Sun Life Financial in a report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Sun Life Financial currently has a consensus rating of "Moderate Buy" and an average target price of $86.50.

Sun Life Financial Stock Up 0.4%

Shares of Sun Life Financial stock opened at $72.36 on Friday. Sun Life Financial Inc. has a 52 week low of $56.22 and a 52 week high of $72.82. The firm's 50 day moving average is $65.61 and its two-hundred day moving average is $63.11. The firm has a market capitalization of $40.09 billion, a P/E ratio of 16.44 and a beta of 0.87.

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

Sun Life Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Wednesday, February 25th were given a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 25th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.1%. Sun Life Financial's payout ratio is 61.36%.

Sun Life Financial Company 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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