Swiss National Bank Boosts Stock Holdings in Sun Life Financial Inc. $SLF

Key Points

• Swiss National Bank increased its stake in Sun Life Financial by 25.5% in the first quarter, buying an additional 378,600 shares and bringing its total holdings to 1,864,200 shares worth about $116.6 million.
• Sun Life Financial reported strong quarterly earnings, with EPS of $1.38 beating estimates of $1.35, while analysts now expect full-year earnings of 5.69 per share.
• The company raised its quarterly dividend to $0.96 per share from $0.92, implying an annualized dividend of $3.84 and a yield of 4.8%.

Swiss National Bank boosted its holdings in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 25.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,864,200 shares of the financial services provider's stock after buying an additional 378,600 shares during the quarter. Swiss National Bank owned approximately 0.34% of Sun Life Financial worth $116,617,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SLF. Louisbourg Investments Inc. grew its stake in Sun Life Financial by 3.0% in the first quarter. Louisbourg Investments Inc. now owns 5,105 shares of the financial services provider's stock valued at $319,000 after purchasing an additional 150 shares during the last quarter. Cornerstone Planning Group LLC grew its position in shares of Sun Life Financial by 68.4% in the 4th quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider's stock worth $26,000 after buying an additional 167 shares during the last quarter. Candriam S.C.A. grew its position in shares of Sun Life Financial by 1.8% in the 1st quarter. Candriam S.C.A. now owns 9,794 shares of the financial services provider's stock worth $612,000 after buying an additional 177 shares during the last quarter. HB Wealth Management LLC increased its position in shares of Sun Life Financial by 4.7% during the first quarter. HB Wealth Management LLC now owns 4,158 shares of the financial services provider's stock worth $260,000 after purchasing an additional 187 shares in the last quarter. Finally, Checchi Capital Advisers LLC lifted its holdings in shares of Sun Life Financial by 6.3% during the 1st quarter. Checchi Capital Advisers LLC now owns 3,599 shares of the financial services provider's stock valued at $225,000 after purchasing an additional 214 shares during the last quarter. Institutional investors own 52.26% of the company's stock.

Sun Life Financial Stock Performance

Sun Life Financial stock opened at $80.68 on Tuesday. The stock has a 50-day simple moving average of $76.06 and a 200-day simple moving average of $69.08. The company has a market capitalization of $44.97 billion, a P/E ratio of 20.79 and a beta of 0.88. Sun Life Financial Inc. has a fifty-two week low of $56.22 and a fifty-two week high of $82.25.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.03. Sun Life Financial had a net margin of 7.85% and a return on equity of 17.80%. The firm had revenue of $6.41 billion for the quarter, compared to analyst estimates of $925.99 million. During the same period last year, the firm posted $1.82 EPS. As a group, analysts forecast that Sun Life Financial Inc. will post 5.69 earnings per share for the current year.

Sun Life Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Wednesday, May 27th were given a $0.96 dividend. This is an increase from Sun Life Financial's previous quarterly dividend of $0.92. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Wednesday, May 27th. Sun Life Financial's dividend payout ratio (DPR) is 72.68%.

Analyst Ratings Changes

A number of research firms have issued reports on SLF. Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of Sun Life Financial in a report on Friday, May 8th. Weiss Ratings reissued a "buy (b)" rating on shares of Sun Life Financial in a research report on Monday, July 6th. Barclays reaffirmed an "underweight" rating on shares of Sun Life Financial in a research report on Tuesday, July 7th. Wall Street Zen downgraded shares of Sun Life Financial from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Sun Life Financial in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $84.67.

About Sun Life Financial

Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.

Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.

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