Sun Life Financial Inc. $SLF Shares Bought by Korea Investment CORP

Key Points

• Korea Investment CORP increased its stake in Sun Life Financial by 13.6% in Q1, now holding 484,568 shares valued at $27.7 million.
• Sun Life Financial recently announced a quarterly dividend of $0.6394 per share, representing a 4.4% yield, an increase from the previous $0.63 dividend.
• Analysts have mixed ratings on Sun Life Financial, with two ratings as "Buy," two as "Hold," and one as "Sell," while the stock has a consensus target price of $88.00.

Korea Investment CORP grew its position in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 13.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 484,568 shares of the financial services provider's stock after buying an additional 57,863 shares during the quarter. Korea Investment CORP owned 0.09% of Sun Life Financial worth $27,729,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Investment Management Corp VA ADV grew its position in Sun Life Financial by 164.5% in the 1st quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 385 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of Sun Life Financial by 53.2% in the first quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 231 shares during the period. Financial Gravity Asset Management Inc. acquired a new position in shares of Sun Life Financial in the first quarter valued at approximately $55,000. GeoWealth Management LLC increased its stake in Sun Life Financial by 4,657.1% during the 4th quarter. GeoWealth Management LLC now owns 999 shares of the financial services provider's stock worth $59,000 after buying an additional 978 shares during the period. Finally, CX Institutional purchased a new stake in Sun Life Financial during the 1st quarter worth approximately $109,000. Institutional investors and hedge funds own 52.26% of the company's stock.

Sun Life Financial Stock Up 0.0%

Shares of Sun Life Financial stock opened at $58.3710 on Wednesday. Sun Life Financial Inc. has a 52 week low of $52.19 and a 52 week high of $66.81. The firm's 50 day moving average is $62.32 and its two-hundred day moving average is $59.79. The firm has a market capitalization of $32.87 billion, a P/E ratio of 14.45, a P/E/G ratio of 1.56 and a beta of 0.90.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its earnings results on Thursday, August 7th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.29. The business had revenue of $6.65 billion during the quarter, compared to analysts' expectations of $7.34 billion. Sun Life Financial had a net margin of 7.59% and a return on equity of 17.21%. During the same quarter in the prior year, the business posted $1.11 EPS. As a group, research 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 will be paid on Monday, September 29th. Shareholders of record on Wednesday, August 27th will be issued a dividend of $0.6394 per share. The ex-dividend date of this dividend is Wednesday, August 27th. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.63. This represents a $2.56 annualized dividend and a dividend yield of 4.4%. Sun Life Financial's dividend payout ratio is 63.12%.

Analyst Ratings Changes

Several brokerages have commented on SLF. National Bank Financial cut shares of Sun Life Financial from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. Scotiabank upgraded Sun Life Financial to a "hold" rating in a report on Thursday, July 31st. Barclays cut Sun Life Financial from an "equal weight" rating to an "underweight" rating in a research note on Monday, July 7th. Royal Bank Of Canada increased their price target on Sun Life Financial from $82.00 to $88.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Sun Life Financial in a research report on Monday, May 12th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $88.00.

About Sun Life Financial

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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