Sun Life Financial Inc. $SLF Stock Holdings Increased by Aviso Financial Inc.

Key Points

• Aviso Financial Inc. increased its stake in Sun Life Financial Inc. by 9.7%, acquiring a total of 114,218 shares valued at approximately $6.54 million.
• The company reported a quarterly EPS of $1.29, meeting analyst expectations, but its revenue of $6.65 billion fell short of the consensus estimate of $7.34 billion.
• Sun Life Financial recently announced an increase in its quarterly dividend to $0.6394, representing an annualized yield of 4.4%.

Aviso Financial Inc. raised its stake in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 9.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 114,218 shares of the financial services provider's stock after purchasing an additional 10,097 shares during the period. Aviso Financial Inc.'s holdings in Sun Life Financial were worth $6,539,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Sun Life Financial by 19.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,220 shares of the financial services provider's stock valued at $585,000 after acquiring an additional 1,645 shares during the last quarter. Bank of Nova Scotia boosted its holdings in Sun Life Financial by 4.8% in the first quarter. Bank of Nova Scotia now owns 5,780,001 shares of the financial services provider's stock valued at $330,848,000 after acquiring an additional 266,732 shares during the last quarter. Cerity Partners LLC boosted its holdings in Sun Life Financial by 4.3% in the first quarter. Cerity Partners LLC now owns 24,889 shares of the financial services provider's stock valued at $1,425,000 after acquiring an additional 1,022 shares during the last quarter. Gulf International Bank UK Ltd boosted its holdings in Sun Life Financial by 2,729.4% in the first quarter. Gulf International Bank UK Ltd now owns 33,557 shares of the financial services provider's stock valued at $1,921,000 after acquiring an additional 32,371 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Sun Life Financial by 5,676.2% in the first quarter. GAMMA Investing LLC now owns 32,982 shares of the financial services provider's stock valued at $1,889,000 after acquiring an additional 32,411 shares during the last quarter. Institutional investors and hedge funds own 52.26% of the company's stock.

Sun Life Financial Stock Performance

Shares of NYSE SLF traded up $0.2050 during midday trading on Friday, reaching $58.9250. 511,885 shares of the company's stock were exchanged, compared to its average volume of 704,530. Sun Life Financial Inc. has a 52-week low of $52.44 and a 52-week high of $66.81. The stock has a market capitalization of $33.18 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 1.57 and a beta of 0.90. The business's fifty day moving average price is $61.97 and its two-hundred day moving average price is $59.80.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its earnings results on Thursday, August 7th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.29. Sun Life Financial had a return on equity of 17.21% and a net margin of 7.59%.The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.34 billion. During the same period in the previous year, the company earned $1.11 earnings per share. Analysts predict 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, September 29th. Stockholders of record on Wednesday, August 27th will be given 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 dividend on an annualized basis and a dividend yield of 4.3%. Sun Life Financial's dividend payout ratio is presently 63.12%.

Analysts Set New Price Targets

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