TD Waterhouse Canada Inc. Buys 215,811 Shares of Sun Life Financial Inc. $SLF

Key Points

• TD Waterhouse Canada Inc. raised its stake in Sun Life by 10.9%, buying 215,811 shares to hold 2,187,623 shares — a 0.40% stake valued at about $136.44 million and the firm's 27th-largest position.
• Sun Life beat Q expectations with EPS of $1.41 vs. $1.35 consensus, and the company has a market capitalization of $38.94 billion with a P/E of 15.97.
• Sun Life pays a quarterly dividend of $0.92 (annualized $3.68), yielding about 5.2% with a payout ratio of 61.36%.

TD Waterhouse Canada Inc. raised its holdings in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 10.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,187,623 shares of the financial services provider's stock after purchasing an additional 215,811 shares during the period. Sun Life Financial accounts for about 0.8% of TD Waterhouse Canada Inc.'s holdings, making the stock its 27th biggest position. TD Waterhouse Canada Inc. owned 0.40% of Sun Life Financial worth $136,438,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Farther Finance Advisors LLC increased its stake in shares of Sun Life Financial by 16.7% in the third quarter. Farther Finance Advisors LLC now owns 1,302 shares of the financial services provider's stock worth $78,000 after purchasing an additional 186 shares in the last quarter. HB Wealth Management LLC increased its stake in shares of Sun Life Financial by 5.8% in the third quarter. HB Wealth Management LLC now owns 3,777 shares of the financial services provider's stock worth $227,000 after purchasing an additional 208 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Sun Life Financial by 1.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,916 shares of the financial services provider's stock worth $824,000 after purchasing an additional 222 shares in the last quarter. Westside Investment Management Inc. increased its stake in shares of Sun Life Financial by 38.6% in the third quarter. Westside Investment Management Inc. now owns 801 shares of the financial services provider's stock worth $48,000 after purchasing an additional 223 shares in the last quarter. Finally, OneDigital Investment Advisors LLC increased its stake in shares of Sun Life Financial by 7.9% in the third quarter. OneDigital Investment Advisors LLC now owns 3,357 shares of the financial services provider's stock worth $202,000 after purchasing an additional 246 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company's stock.

Sun Life Financial Stock Performance

Sun Life Financial stock opened at $70.28 on Monday. The firm's 50 day simple moving average is $64.87 and its 200 day simple moving average is $62.51. The firm has a market capitalization of $38.94 billion, a PE ratio of 15.97 and a beta of 0.87. Sun Life Financial Inc. has a 1-year low of $56.08 and a 1-year high of $70.50.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its earnings results on Wednesday, February 11th. The financial services provider reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.06. The business had revenue of $973.53 million for the quarter, compared to analyst estimates of $973.53 million. Sun Life Financial had a net margin of 8.48% and a return on equity of 17.76%. During the same quarter in the prior year, the firm posted $1.68 EPS. Research analysts forecast that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Wednesday, February 25th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Wednesday, February 25th. Sun Life Financial's dividend payout ratio is 61.36%.

Analyst Ratings Changes

SLF has been the subject of several recent research reports. Wall Street Zen downgraded shares of Sun Life Financial from a "buy" rating to a "hold" rating in a research note on Sunday, March 8th. Barclays reiterated an "underweight" rating on shares of Sun Life Financial in a research note on Thursday, January 8th. BMO Capital Markets reiterated an "outperform" rating on shares of Sun Life Financial in a research note on Friday, February 13th. Evercore reiterated an "outperform" rating on shares of Sun Life Financial in a research note on Thursday, February 19th. Finally, Scotiabank reiterated a "sector perform" rating on shares of Sun Life Financial in a research note on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Sun Life Financial currently has an average rating of "Hold" and a consensus target price of $86.50.

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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