Acadian Asset Management LLC raised its stake in shares of Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 202.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,666,495 shares of the financial services provider’s stock after buying an additional 2,453,895 shares during the period. Sun Life Financial comprises about 0.8% of Acadian Asset Management LLC’s investment portfolio, making the stock its 26th biggest holding. Acadian Asset Management LLC owned 0.62% of Sun Life Financial worth $167,414,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently modified their holdings of the business. OLD National Bancorp IN lifted its holdings in shares of Sun Life Financial by 7.7% during the 3rd quarter. OLD National Bancorp IN now owns 7,819 shares of the financial services provider’s stock valued at $350,000 after buying an additional 559 shares during the last quarter. AE Wealth Management LLC raised its holdings in shares of Sun Life Financial by 11.5% during the 4th quarter. AE Wealth Management LLC now owns 6,178 shares of the financial services provider’s stock valued at $282,000 after purchasing an additional 639 shares in the last quarter. Savior LLC bought a new position in shares of Sun Life Financial during the 4th quarter valued at $31,000. Parallel Advisors LLC lifted its stake in shares of Sun Life Financial by 86.8% in the 3rd quarter. Parallel Advisors LLC now owns 1,545 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 718 shares during the last quarter. Finally, Motco lifted its stake in shares of Sun Life Financial by 0.7% in the 4th quarter. Motco now owns 104,952 shares of the financial services provider’s stock valued at $4,782,000 after purchasing an additional 758 shares during the last quarter. 42.17% of the stock is owned by institutional investors.
Shares of Sun Life Financial stock opened at $50.13 on Friday. The firm has a fifty day simple moving average of $47.46 and a 200-day simple moving average of $44.53. The stock has a market capitalization of $28.40 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.30 and a beta of 0.81. Sun Life Financial Inc has a 1-year low of $35.49 and a 1-year high of $50.13.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.36. The business had revenue of $8.53 billion for the quarter. Sun Life Financial had a net margin of 6.43% and a return on equity of 13.20%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.19 earnings per share. On average, equities research analysts anticipate that Sun Life Financial Inc will post 3.86 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Sunday, March 1st will be given a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Thursday, February 27th. Sun Life Financial’s dividend payout ratio is 44.53%.
A number of equities research analysts recently issued reports on SLF shares. Barclays upped their price objective on shares of Sun Life Financial from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Canaccord Genuity raised their target price on Sun Life Financial from $56.00 to $58.00 in a report on Monday, October 28th. National Bank Financial cut Sun Life Financial from an “outperform” rating to a “sector perform” rating in a research report on Thursday, November 7th. Cfra upped their price target on Sun Life Financial from $48.00 to $52.00 and gave the stock a “hold” rating in a research note on Friday. Finally, Credit Suisse Group began coverage on Sun Life Financial in a research note on Friday, February 7th. They set an “outperform” rating and a $71.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $59.18.
Sun Life Financial Profile
Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.
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