Sun Life Financial Inc. (NYSE:SLF) Holdings Raised by TD Asset Management Inc

Key Points

• TD Asset Management Inc has increased its stake in Sun Life Financial by 2.4%, now holding over 16 million shares valued at approximately $921 million.
• Sun Life Financial reported a quarterly EPS of $1.27, exceeding analysts' expectations and showcasing a significant revenue of $7.91 billion for the quarter.
• Increased dividends were noted, with the quarterly payout raised to $0.6332 per share, reflecting a 4.06% yield and a dividend payout ratio of 64.89%.

TD Asset Management Inc grew its stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 2.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,100,340 shares of the financial services provider's stock after purchasing an additional 374,682 shares during the quarter. Sun Life Financial makes up 0.8% of TD Asset Management Inc's holdings, making the stock its 25th biggest position. TD Asset Management Inc owned about 2.84% of Sun Life Financial worth $921,330,000 as of its most recent filing with the Securities & Exchange Commission.

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

Sun Life Financial Stock Performance

NYSE SLF traded down $0.54 during trading hours on Wednesday, reaching $61.50. The company's stock had a trading volume of 169,468 shares, compared to its average volume of 680,918. The stock has a market cap of $34.63 billion, a PE ratio of 15.66, a PEG ratio of 1.65 and a beta of 0.91. Sun Life Financial Inc. has a fifty-two week low of $46.41 and a fifty-two week high of $66.81. The company's 50-day moving average is $63.83 and its two-hundred day moving average is $59.70.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.05. Sun Life Financial had a net margin of 7.47% and a return on equity of 17.33%. The business had revenue of $7.91 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same period in the prior year, the firm posted $1.40 EPS. Equities analysts expect that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Wednesday, May 28th were given a $0.6332 dividend. This is an increase from Sun Life Financial's previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, May 28th. This represents a $2.53 annualized dividend and a yield of 4.12%. Sun Life Financial's dividend payout ratio (DPR) is 64.89%.

Analyst Ratings Changes

Several brokerages have recently weighed in on SLF. Scotiabank restated an "outperform" rating on shares of Sun Life Financial in a research report on Thursday, May 1st. Barclays downgraded shares of Sun Life Financial from an "equal weight" rating to an "underweight" rating in a research report on Monday, July 7th. Royal Bank Of Canada upped their price objective on shares of Sun Life Financial from $82.00 to $88.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Sun Life Financial in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Sun Life Financial currently has an average rating of "Moderate Buy" and a consensus target price 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.