XTX Topco Ltd Buys Shares of 8,185 Sun Life Financial Inc. (NYSE:SLF)

Key Points

• XTX Topco Ltd has invested approximately $469,000 in Sun Life Financial Inc., acquiring 8,185 shares in the first quarter, according to their recent 13F filing with the SEC.
• Several hedge funds such as Wellington Management and Canada Pension Plan Investment Board have significantly increased their positions in Sun Life Financial, indicating strong interest from institutional investors.
• Analysts' consensus rating for Sun Life Financial currently stands at "Hold," with a target price set at $88.00, highlighting a mixture of optimistic and cautious sentiments among research firms.

XTX Topco Ltd purchased a new stake in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 8,185 shares of the financial services provider's stock, valued at approximately $469,000.

Several other hedge funds also recently made changes to their positions in SLF. Investment Management Corp VA ADV boosted its position in shares of Sun Life Financial by 164.5% during the first quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 385 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of Sun Life Financial by 53.2% during the first quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 231 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new position in shares of Sun Life Financial during the first quarter valued at approximately $55,000. GeoWealth Management LLC lifted its holdings in shares of Sun Life Financial by 4,657.1% during the fourth quarter. GeoWealth Management LLC now owns 999 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 978 shares during the last quarter. Finally, CX Institutional purchased a new position in shares of Sun Life Financial during the first quarter valued at approximately $109,000. 52.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SLF shares. BMO Capital Markets reiterated an "outperform" rating on shares of Sun Life Financial in a report on Monday, May 12th. Royal Bank Of Canada lifted their target price on shares of Sun Life Financial from $82.00 to $88.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Scotiabank upgraded shares of Sun Life Financial to a "hold" rating in a report on Thursday, July 31st. National Bank Financial lowered shares of Sun Life Financial from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. Finally, Barclays lowered shares of Sun Life Financial from an "equal weight" rating to an "underweight" rating in a report on Monday, July 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $88.00.

Sun Life Financial Stock Performance

Shares of SLF stock traded up $0.63 during mid-day trading on Tuesday, hitting $57.51. The company's stock had a trading volume of 121,679 shares, compared to its average volume of 682,569. Sun Life Financial Inc. has a 52-week low of $49.35 and a 52-week high of $66.81. The business has a 50-day moving average price of $63.15 and a 200 day moving average price of $59.81. The stock has a market cap of $32.39 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 1.51 and a beta of 0.90.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings results on Thursday, August 7th. The financial services provider reported $1.29 earnings per share for the quarter, hitting the consensus estimate of $1.29. Sun Life Financial had a return on equity of 17.08% and a net margin of 7.59%. The firm had revenue of $6.65 billion during the quarter, compared to analysts' expectations of $7.34 billion. During the same quarter in the previous year, the business earned $1.11 earnings per share. Equities research analysts predict that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

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

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.