Candriam Luxembourg S.C.A. Has $2.03 Million Stake in Sun Life Financial Inc. (NYSE:SLF)
Candriam Luxembourg S.C.A. decreased its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 0.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 56,941 shares of the financial services provider’s stock after selling 417 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Sun Life Financial were worth $2,033,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of SLF. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Sun Life Financial by 0.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,587 shares of the financial services provider’s stock valued at $131,000 after buying an additional 17 shares during the last quarter. Rational Advisors LLC boosted its stake in shares of Sun Life Financial by 14.3% in the first quarter. Rational Advisors LLC now owns 4,538 shares of the financial services provider’s stock valued at $166,000 after buying an additional 567 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Sun Life Financial during the first quarter valued at $194,000. Stifel Financial Corp boosted its stake in shares of Sun Life Financial by 1.8% in the first quarter. Stifel Financial Corp now owns 5,811 shares of the financial services provider’s stock valued at $209,000 after buying an additional 102 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Sun Life Financial by 7.9% in the second quarter. Janney Montgomery Scott LLC now owns 6,126 shares of the financial services provider’s stock valued at $219,000 after buying an additional 450 shares during the last quarter. 43.01% of the stock is currently owned by institutional investors.
Sun Life Financial Inc. (NYSE SLF) opened at 37.46 on Friday. The company has a market cap of $22.99 billion, a PE ratio of 11.62 and a beta of 0.88. Sun Life Financial Inc. has a 1-year low of $30.38 and a 1-year high of $40.57. The stock’s 50 day moving average price is $36.91 and its 200-day moving average price is $36.18.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.09. The firm had revenue of $8.12 billion for the quarter, compared to analyst estimates of $7.36 billion. Sun Life Financial had a net margin of 12.48% and a return on equity of 13.32%. The business’s revenue for the quarter was down 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.90 EPS. On average, analysts forecast that Sun Life Financial Inc. will post $3.12 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Wednesday, August 30th will be given a dividend of $0.3439 per share. This represents a $1.38 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Monday, August 28th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.32. Sun Life Financial’s payout ratio is presently 40.06%.
Sun Life Financial announced that its board has approved a stock buyback plan on Wednesday, August 9th that permits the company to buyback 11,500,000 outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.
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Several brokerages have weighed in on SLF. TD Securities boosted their price objective on Sun Life Financial from $50.00 to $51.00 and gave the stock a “hold” rating in a research note on Thursday. Zacks Investment Research raised Sun Life Financial from a “sell” rating to a “hold” rating in a research note on Thursday, June 1st. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Sun Life Financial in a research note on Tuesday, May 9th. BidaskClub raised Sun Life Financial from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Bank of America Corporation raised Sun Life Financial from an “underperform” rating to a “hold” rating in a research note on Monday, July 10th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $45.83.
About Sun Life Financial
Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services company providing a range of insurance, wealth and asset management solutions to individuals and corporate Clients. It operates through five segments. The Sun Life Financial Canada segment provides retail insurance and investment advice, products and services to people across Canada.
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