Quantinno Capital Management LP grew its stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,443 shares of the financial services provider's stock after purchasing an additional 4,341 shares during the quarter. Quantinno Capital Management LP's holdings in Sun Life Financial were worth $4,892,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Sun Life Financial by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 24,233,496 shares of the financial services provider's stock valued at $1,438,888,000 after buying an additional 197,887 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Sun Life Financial by 2.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 9,454,589 shares of the financial services provider's stock valued at $562,121,000 after acquiring an additional 198,205 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Sun Life Financial by 10.8% in the fourth quarter. CIBC Asset Management Inc now owns 7,192,059 shares of the financial services provider's stock valued at $427,712,000 after acquiring an additional 703,391 shares in the last quarter. Norges Bank acquired a new stake in shares of Sun Life Financial in the fourth quarter worth approximately $382,176,000. Finally, Geode Capital Management LLC boosted its stake in shares of Sun Life Financial by 30.6% in the fourth quarter. Geode Capital Management LLC now owns 3,467,275 shares of the financial services provider's stock worth $210,080,000 after acquiring an additional 812,689 shares during the last quarter. Hedge funds and other institutional investors own 52.26% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on SLF. Scotiabank restated an "outperform" rating on shares of Sun Life Financial in a report on Thursday, May 1st. BMO Capital Markets reiterated an "outperform" rating on shares of Sun Life Financial in a research report on Monday, May 12th. Royal Bank of Canada upped their price objective on shares of Sun Life Financial from $82.00 to $88.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Cormark upgraded shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a report on Thursday, February 13th. Finally, Wall Street Zen cut Sun Life Financial from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Sun Life Financial has a consensus rating of "Moderate Buy" and a consensus target price of $88.00.
Read Our Latest Research Report on SLF
Sun Life Financial Stock Up 0.8%
Shares of SLF traded up $0.47 during midday trading on Friday, reaching $63.58. The company had a trading volume of 4,784,475 shares, compared to its average volume of 684,492. Sun Life Financial Inc. has a 1-year low of $46.41 and a 1-year high of $63.78. The firm has a 50 day simple moving average of $58.34 and a 200-day simple moving average of $58.43. The stock has a market cap of $35.91 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90.
Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.05. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. The firm had revenue of $7.91 billion during the quarter, compared to analysts' expectations of $6.44 billion. During the same period last year, the business earned $1.40 earnings per share. As a group, sell-side analysts anticipate that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.
Sun Life Financial Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Wednesday, May 28th will be paid a dividend of $0.6332 per share. This is a boost from Sun Life Financial's previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $2.53 annualized dividend and a yield of 3.98%. Sun Life Financial's dividend payout ratio (DPR) is 62.09%.
About Sun Life Financial
(
Free Report)
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.
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