Franklin Resources Inc. raised its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 6.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 244,341 shares of the financial services provider’s stock after purchasing an additional 14,109 shares during the quarter. Franklin Resources Inc.’s holdings in Sun Life Financial were worth $8,740,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of SLF. Beutel Goodman & Co Ltd. raised its stake in shares of Sun Life Financial by 50.7% in the second quarter. Beutel Goodman & Co Ltd. now owns 9,170,839 shares of the financial services provider’s stock worth $327,474,000 after purchasing an additional 3,083,485 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Sun Life Financial by 686.8% in the first quarter. AQR Capital Management LLC now owns 1,429,171 shares of the financial services provider’s stock worth $52,038,000 after purchasing an additional 1,247,534 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Sun Life Financial by 1,847.8% in the second quarter. Canada Pension Plan Investment Board now owns 888,194 shares of the financial services provider’s stock worth $31,706,000 after purchasing an additional 842,594 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of Sun Life Financial by 1,345.0% in the second quarter. Schroder Investment Management Group now owns 659,300 shares of the financial services provider’s stock worth $30,401,000 after purchasing an additional 613,674 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Sun Life Financial by 4.8% in the first quarter. Vanguard Group Inc. now owns 13,072,396 shares of the financial services provider’s stock worth $477,796,000 after purchasing an additional 593,878 shares during the last quarter. 40.90% of the stock is owned by hedge funds and other institutional investors.

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Several analysts have recently commented on the company. BidaskClub raised Sun Life Financial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 19th. Zacks Investment Research downgraded Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. ValuEngine downgraded Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. TD Securities increased 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, August 10th. 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 investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $45.80.

Shares of Sun Life Financial Inc. (SLF) opened at 39.32 on Monday. The stock has a market capitalization of $24.13 billion, a P/E ratio of 11.38 and a beta of 0.86. Sun Life Financial Inc. has a 12 month low of $31.42 and a 12 month high of $40.57. The company’s 50 day moving average price is $38.43 and its 200-day moving average price is $36.17.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.09. The business had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $7.36 billion. Sun Life Financial had a return on equity of 13.29% and a net margin of 12.48%. The firm’s quarterly revenue was down 14.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 EPS. Equities analysts predict that Sun Life Financial Inc. will post $3.30 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Wednesday, August 30th will be given a $0.3439 dividend. The ex-dividend date is Monday, August 28th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.32. This represents a $1.38 annualized dividend and a yield of 3.50%. Sun Life Financial’s dividend payout ratio is 43.85%.

Sun Life Financial declared that its board has initiated a stock repurchase plan on Wednesday, August 9th that allows the company to repurchase 11,500,000 outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.

Institutional Ownership by Quarter for Sun Life Financial (NYSE:SLF)

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