Plato Investment Management Ltd Takes Position in Sun Life Financial Inc. $SLF

Key Points

• Plato Investment Management acquired 37,016 shares of Sun Life Financial during the second quarter, valued at approximately $2.9 million. Institutional investors collectively own 52.26% of the company.
• Analysts maintain a consensus “Moderate Buy” rating, with a consensus price target of $96.33 versus the stock’s reported $81.33 price.
• Sun Life Financial exceeded quarterly earnings expectations, reporting EPS of $1.46 versus $1.39 forecast, and declared a quarterly dividend of $0.96, implying a 4.7% annualized yield.

Plato Investment Management Ltd acquired a new stake in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 37,016 shares of the financial services provider's stock, valued at approximately $2,888,000.

Several other institutional investors have also modified their holdings of SLF. Cassaday & Co Wealth Management LLC acquired a new position in shares of Sun Life Financial during the 1st quarter worth about $25,000. Cornerstone Planning Group LLC boosted its holdings in Sun Life Financial by 68.4% in the 4th quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider's stock worth $26,000 after buying an additional 167 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in Sun Life Financial during the 4th quarter worth approximately $30,000. Sittner & Nelson LLC acquired a new position in shares of Sun Life Financial during the fourth quarter valued at approximately $33,000. Finally, Scarborough Advisors LLC purchased a new position in shares of Sun Life Financial in the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 52.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. BMO Capital Markets reissued an "outperform" rating on shares of Sun Life Financial in a research note on Friday, May 8th. Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of Sun Life Financial in a research note on Friday, May 8th. Royal Bank Of Canada upped their target price on shares of Sun Life Financial from $98.00 to $119.00 and gave the stock a "sector perform" rating in a report on Monday, August 10th. Scotiabank reissued a "sector perform" rating on shares of Sun Life Financial in a research note on Monday, August 10th. Finally, Evercore downgraded shares of Sun Life Financial from an "outperform" rating to an "in-line" rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.33.

Sun Life Financial Trading Down 0.0%

Shares of SLF opened at $81.33 on Monday. Sun Life Financial Inc. has a 12-month low of $57.22 and a 12-month high of $84.38. The firm has a market capitalization of $45.33 billion, a P/E ratio of 19.01 and a beta of 0.88. The firm has a 50-day moving average price of $79.74 and a 200 day moving average price of $71.66.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its earnings results on Thursday, August 6th. The financial services provider reported $1.46 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.07. The company had revenue of $10.10 billion for the quarter, compared to the consensus estimate of $994.33 million. Sun Life Financial had a net margin of 7.66% and a return on equity of 17.96%. Equities research analysts predict that Sun Life Financial Inc. will post 5.72 earnings per share for the current fiscal year.

Sun Life Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Wednesday, August 26th will be given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 4.7%. The ex-dividend date is Wednesday, August 26th. Sun Life Financial's dividend payout ratio is presently 66.12%.

About Sun Life Financial

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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