Sun Life Financial Inc. (NYSE:SLF) Holdings Raised by Deutsche Bank AG

Key Points

• Deutsche Bank AG raised its stake in Sun Life Financial Inc. by 7.3% in the first quarter, owning over 1 million shares valued at approximately $58 million.
• Sun Life Financial recently announced a quarterly dividend increase to $0.6394 per share, with an annualized yield of 4.5%.
• Analysts have mixed opinions on the stock, with a consensus rating of "Hold" and an average price target of $88.00.

Deutsche Bank AG grew its stake in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 7.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,018,191 shares of the financial services provider's stock after purchasing an additional 69,071 shares during the period. Deutsche Bank AG owned about 0.18% of Sun Life Financial worth $58,302,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. NorthCrest Asset Manangement LLC grew its holdings in Sun Life Financial by 1.7% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 10,801 shares of the financial services provider's stock valued at $618,000 after buying an additional 180 shares during the last quarter. HighPoint Advisor Group LLC grew its holdings in Sun Life Financial by 4.4% in the 1st quarter. HighPoint Advisor Group LLC now owns 4,330 shares of the financial services provider's stock valued at $256,000 after buying an additional 181 shares during the last quarter. Tidal Investments LLC grew its holdings in Sun Life Financial by 4.5% in the 4th quarter. Tidal Investments LLC now owns 5,147 shares of the financial services provider's stock valued at $305,000 after buying an additional 222 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in Sun Life Financial by 53.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider's stock valued at $38,000 after buying an additional 231 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Sun Life Financial by 7.6% in the 1st quarter. Blue Trust Inc. now owns 3,437 shares of the financial services provider's stock valued at $197,000 after buying an additional 243 shares during the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

Sun Life Financial Trading Up 0.7%

Shares of NYSE:SLF opened at $56.93 on Tuesday. Sun Life Financial Inc. has a 1-year low of $47.87 and a 1-year high of $66.81. The firm has a market capitalization of $32.06 billion, a PE ratio of 14.09, a PEG ratio of 1.51 and a beta of 0.90. The business's 50 day moving average is $63.15 and its 200-day moving average is $59.81.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its quarterly earnings data on Thursday, August 7th. The financial services provider reported $1.29 earnings per share for the quarter, hitting the consensus estimate of $1.29. The company had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.34 billion. Sun Life Financial had a return on equity of 17.08% and a net margin of 7.59%. During the same quarter last year, the firm earned $1.11 EPS. On average, sell-side analysts predict that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Wednesday, August 27th will be paid a $0.6394 dividend. This is an increase from Sun Life Financial's previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $2.56 annualized dividend and a dividend yield of 4.5%. Sun Life Financial's payout ratio is 63.12%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SLF shares. Royal Bank Of Canada raised their target price on Sun Life Financial from $82.00 to $88.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Barclays lowered Sun Life Financial from an "equal weight" rating to an "underweight" rating in a report on Monday, July 7th. Scotiabank raised Sun Life Financial to a "hold" rating in a report on Thursday, July 31st. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Sun Life Financial in a report on Monday, May 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $88.00.

Sun Life Financial Company Profile

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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