Quantinno Capital Management LP Acquires 44,355 Shares of Sun Life Financial Inc. $SLF

Key Points

• Quantinno Capital Management increased its Sun Life Financial stake by 30.5% in the first quarter, purchasing 44,355 additional shares for a total holding of 189,760 shares valued at approximately $11.87 million. Institutional investors collectively own 52.26% of the company.
• Sun Life Financial reported quarterly earnings of $1.38 per share, surpassing the $1.35 consensus estimate. The company also raised its quarterly dividend to $0.96, representing an annualized payout of $3.84 and a 4.7% yield.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $84.67, compared with the stock’s reported opening price of $82.50.

Quantinno Capital Management LP lifted its holdings in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 30.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,760 shares of the financial services provider's stock after buying an additional 44,355 shares during the period. Quantinno Capital Management LP's holdings in Sun Life Financial were worth $11,871,000 at the end of the most recent reporting period.

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

Sun Life Financial Trading Down 0.5%

Shares of NYSE SLF opened at $82.50 on Tuesday. Sun Life Financial Inc. has a 12-month low of $56.22 and a 12-month high of $84.38. The firm has a market capitalization of $45.98 billion, a price-to-earnings ratio of 21.26 and a beta of 0.88. The firm has a 50 day moving average of $78.10 and a 200 day moving average of $70.46.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.03. The business had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $925.99 million. Sun Life Financial had a net margin of 7.85% and a return on equity of 17.80%. During the same period last year, the firm earned $1.82 earnings per share. Sell-side analysts predict that Sun Life Financial Inc. will post 5.69 EPS for the current year.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Wednesday, May 27th were issued a $0.96 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $3.84 dividend on an annualized basis and a yield of 4.7%. This is an increase from Sun Life Financial's previous quarterly dividend of $0.92. Sun Life Financial's payout ratio is 72.94%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SLF. National Bank Financial upgraded shares of Sun Life Financial from a "sector perform" rating to an "outperform" rating in a report on Friday, April 24th. Weiss Ratings reissued a "buy (b)" rating on shares of Sun Life Financial in a report on Monday, July 6th. Argus set a $81.00 price objective on Sun Life Financial in a report on Wednesday, June 10th. Evercore cut Sun Life Financial from an "outperform" rating to an "in-line" rating in a research report on Monday, July 13th. Finally, Scotiabank reissued a "sector perform" rating on shares of Sun Life Financial in a report on Wednesday, July 15th. One investment 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.67.

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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