Achmea Investment Management B.V. Makes New $2.34 Million Investment in Sun Life Financial Inc. $SLF

Achmea Investment Management B.V. purchased a new position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the third quarter, HoldingsChannel reports. The fund purchased 38,975 shares of the financial services provider’s stock, valued at approximately $2,341,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its position in shares of Sun Life Financial by 16.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,302 shares of the financial services provider’s stock valued at $78,000 after buying an additional 186 shares in the last quarter. HB Wealth Management LLC lifted its holdings in Sun Life Financial by 5.8% during the third quarter. HB Wealth Management LLC now owns 3,777 shares of the financial services provider’s stock worth $227,000 after acquiring an additional 208 shares in the last quarter. Westside Investment Management Inc. grew its stake in 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 valued at $48,000 after acquiring an additional 223 shares during the period. OneDigital Investment Advisors LLC increased its holdings 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 acquiring an additional 246 shares in the last quarter. Finally, Huntington National Bank increased its holdings in shares of Sun Life Financial by 9.6% in the third quarter. Huntington National Bank now owns 3,010 shares of the financial services provider’s stock worth $181,000 after acquiring an additional 264 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Stock Performance

Shares of Sun Life Financial stock opened at $63.38 on Thursday. The firm has a market cap of $35.10 billion, a PE ratio of 14.40 and a beta of 0.87. The business’s 50 day simple moving average is $64.33 and its 200 day simple moving average is $61.66. Sun Life Financial Inc. has a 52-week low of $52.44 and a 52-week high of $69.67.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly 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. Sun Life Financial had a return on equity of 17.76% and a net margin of 8.48%.The firm had revenue of $973.53 million during the quarter, compared to the consensus estimate of $973.53 million. During the same quarter in the prior year, the firm posted $1.68 EPS. As a group, equities research analysts predict that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, February 25th will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 5.8%. The ex-dividend date is Wednesday, February 25th. Sun Life Financial’s payout ratio is presently 61.36%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SLF. Evercore reiterated an “outperform” rating on shares of Sun Life Financial in a report on Thursday, February 19th. Barclays restated an “underweight” rating on shares of Sun Life Financial in a report on Thursday, January 8th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Sun Life Financial in a research note on Friday, February 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Sun Life Financial in a report on Wednesday, January 21st. Finally, Scotiabank reissued a “sector perform” rating on shares of Sun Life Financial in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus 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.