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Swiss National Bank Has $93.86 Million Holdings in Sun Life Financial Inc. (NYSE:SLF)

Sun Life Financial logo with Finance background

Key Points

  • Swiss National Bank reduced its shares in Sun Life Financial by 2.3%, holding approximately 1,638,800 shares valued at about $93.86 million as of its latest SEC filing.
  • Several institutional investors significantly increased their stakes in Sun Life Financial, with Wellington Management boosting its stake by 2,071.4% during the last quarter.
  • Sun Life Financial recently announced a quarterly dividend increase to $0.6394 per share, reflecting a 4.5% yield and a payout ratio of 63.12%.
  • Want stock alerts on Sun Life Financial? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Swiss National Bank trimmed its position in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 2.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,638,800 shares of the financial services provider's stock after selling 38,000 shares during the quarter. Swiss National Bank owned approximately 0.29% of Sun Life Financial worth $93,861,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SLF. Wellington Management Group LLP boosted its stake in shares of Sun Life Financial by 2,071.4% during the fourth quarter. Wellington Management Group LLP now owns 1,350,751 shares of the financial services provider's stock valued at $80,160,000 after purchasing an additional 1,288,545 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Sun Life Financial by 71.9% during the fourth quarter. Canada Pension Plan Investment Board now owns 2,867,939 shares of the financial services provider's stock valued at $170,068,000 after purchasing an additional 1,200,000 shares in the last quarter. Value Partners Investments Inc. boosted its stake in shares of Sun Life Financial by 1,002.9% during the first quarter. Value Partners Investments Inc. now owns 1,120,888 shares of the financial services provider's stock valued at $64,216,000 after purchasing an additional 1,019,254 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of Sun Life Financial during the first quarter valued at about $50,968,000. Finally, TD Asset Management Inc boosted its stake in shares of Sun Life Financial by 2.4% during the first quarter. TD Asset Management Inc now owns 16,100,340 shares of the financial services provider's stock valued at $921,330,000 after purchasing an additional 374,682 shares in the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Royal Bank Of Canada lifted their price target on Sun Life Financial from $82.00 to $88.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. 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 reissued an "outperform" rating on shares of Sun Life Financial in a research note on Monday, May 12th. Finally, Scotiabank upgraded Sun Life Financial to a "hold" rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $88.00.

Check Out Our Latest Stock Analysis on SLF

Sun Life Financial Price Performance

Shares of SLF opened at $56.65 on Friday. Sun Life Financial Inc. has a 1 year low of $47.60 and a 1 year high of $66.81. The company has a market capitalization of $31.90 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 1.51 and a beta of 0.90. The business has a 50-day moving average of $63.31 and a 200-day moving average of $59.81.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its quarterly earnings data 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 17.08% and a net margin of 7.59%. The company had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $7.34 billion. During the same period last year, the company earned $1.11 earnings per share. As a group, sell-side analysts anticipate that Sun Life Financial Inc. will post 5.19 EPS 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 issued a $0.6394 dividend. The ex-dividend date is Wednesday, August 27th. 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 4.5%. Sun Life Financial's dividend payout ratio is presently 63.12%.

About Sun Life Financial

(Free Report)

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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Institutional Ownership by Quarter for Sun Life Financial (NYSE:SLF)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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