Aviso Financial Inc. Boosts Stake in Sun Life Financial Inc. $SLF

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 holdings in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 9.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 quarter.

Other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew 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 purchasing an additional 1,645 shares during the period. Cerity Partners LLC grew 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 purchasing an additional 1,022 shares during the period. Bank of Nova Scotia grew 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 purchasing an additional 266,732 shares during the period. Gulf International Bank UK Ltd grew 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 purchasing an additional 32,371 shares during the period. Finally, GAMMA Investing LLC grew 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 purchasing an additional 32,411 shares during the period. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Price Performance

Sun Life Financial stock traded up $0.1760 during trading on Thursday, reaching $58.7360. 420,591 shares of the company were exchanged, compared to its average volume of 691,237. Sun Life Financial Inc. has a 52-week low of $52.44 and a 52-week high of $66.81. The company has a market capitalization of $33.08 billion, a P/E ratio of 14.54, a PEG ratio of 1.56 and a beta of 0.90. The stock's 50 day simple moving average is $62.20 and its two-hundred day simple moving average is $59.78.

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 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 firm had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $7.34 billion. During the same quarter last year, the business posted $1.11 earnings per share. As a group, equities analysts forecast that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Wednesday, August 27th will be given a $0.6394 dividend. This is an increase from Sun Life Financial's previous quarterly dividend of $0.63. This represents a $2.56 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Wednesday, August 27th. Sun Life Financial's dividend payout ratio (DPR) is presently 63.12%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SLF shares. Barclays lowered Sun Life Financial from an "equal weight" rating to an "underweight" rating in a research note on Monday, July 7th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Sun Life Financial in a research note on Monday, May 12th. Scotiabank raised Sun Life Financial to a "hold" rating in a research note on Thursday, July 31st. Royal Bank Of Canada lifted their price target 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. Finally, National Bank Financial lowered Sun Life Financial from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $88.00.

Sun Life Financial 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.