Bank of Montreal Can boosted its position in Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 19.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,771,456 shares of the financial services provider’s stock after purchasing an additional 2,039,994 shares during the quarter. Bank of Montreal Can owned approximately 2.11% of Sun Life Financial worth $507,793,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. CIBC World Markets Inc. raised its holdings in Sun Life Financial by 9.0% in the first quarter. CIBC World Markets Inc. now owns 9,542,599 shares of the financial services provider’s stock worth $392,392,000 after purchasing an additional 784,193 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of Sun Life Financial by 36.9% during the second quarter. Toronto Dominion Bank now owns 9,075,777 shares of the financial services provider’s stock valued at $367,220,000 after acquiring an additional 2,447,503 shares in the last quarter. Bank of Nova Scotia increased its holdings in shares of Sun Life Financial by 6.4% during the second quarter. Bank of Nova Scotia now owns 3,148,394 shares of the financial services provider’s stock valued at $126,759,000 after acquiring an additional 189,407 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Sun Life Financial by 8.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,926,051 shares of the financial services provider’s stock valued at $77,408,000 after acquiring an additional 151,326 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Sun Life Financial by 6.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,580,449 shares of the financial services provider’s stock valued at $63,439,000 after acquiring an additional 97,733 shares in the last quarter. Institutional investors and hedge funds own 41.08% of the company’s stock.
Shares of NYSE:SLF traded down $0.01 on Friday, hitting $36.99. 33,747 shares of the company traded hands, compared to its average volume of 483,194. Sun Life Financial Inc has a 52 week low of $36.95 and a 52 week high of $44.50. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.06 and a quick ratio of 4.06. The company has a market capitalization of $24.03 billion, a PE ratio of 11.61 and a beta of 0.81.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Wednesday, August 8th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.32. Sun Life Financial had a return on equity of 13.44% and a net margin of 9.24%. The firm had revenue of $5.29 billion during the quarter. During the same quarter in the previous year, the business earned $1.12 earnings per share. On average, sell-side analysts anticipate that Sun Life Financial Inc will post 3.57 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Wednesday, August 29th were issued a dividend of $0.365 per share. The ex-dividend date of this dividend was Tuesday, August 28th. This represents a $1.46 annualized dividend and a dividend yield of 3.95%. Sun Life Financial’s payout ratio is presently 45.63%.
Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Sun Life Financial from a “sell” rating to a “hold” rating in a report on Monday, August 20th. Evercore ISI assumed coverage on Sun Life Financial in a report on Tuesday, July 10th. They set an “outperform” rating for the company. Finally, ValuEngine downgraded Sun Life Financial from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $53.75.
Sun Life Financial Company Profile
Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients, high-net-worth individuals, and families. It operates through Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate segments.
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