Munich Reinsurance Co Stock Corp in Munich Purchases Shares of 35,254 Sun Life Financial Inc. $SLF

Munich Reinsurance Co Stock Corp in Munich purchased a new stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 35,254 shares of the financial services provider’s stock, valued at approximately $2,117,000.

Other large investors have also recently modified their holdings of the company. First Trust Advisors LP raised its stake in shares of Sun Life Financial by 7.3% during the 3rd quarter. First Trust Advisors LP now owns 708,992 shares of the financial services provider’s stock worth $42,561,000 after acquiring an additional 48,105 shares in the last quarter. Guardian Capital LP boosted its stake in Sun Life Financial by 44.2% in the third quarter. Guardian Capital LP now owns 452,127 shares of the financial services provider’s stock valued at $27,156,000 after acquiring an additional 138,548 shares in the last quarter. Orion Porfolio Solutions LLC grew its holdings in Sun Life Financial by 7.8% in the third quarter. Orion Porfolio Solutions LLC now owns 18,840 shares of the financial services provider’s stock worth $1,131,000 after purchasing an additional 1,364 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Sun Life Financial by 1.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,639,801 shares of the financial services provider’s stock worth $98,426,000 after purchasing an additional 23,102 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Sun Life Financial by 8.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 403,750 shares of the financial services provider’s stock valued at $24,237,000 after purchasing an additional 31,000 shares during the last quarter. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Down 0.9%

Shares of NYSE SLF opened at $64.90 on Friday. Sun Life Financial Inc. has a 52 week low of $52.44 and a 52 week high of $69.67. The business’s 50 day moving average price is $64.25 and its 200 day moving average price is $61.38. The firm has a market cap of $35.95 billion, a P/E ratio of 14.75 and a beta of 0.87.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.06. Sun Life Financial had a net margin of 8.48% and a return on equity of 17.76%. The company had revenue of $973.53 million during the quarter, compared to analyst estimates of $973.53 million. During the same period last year, the firm posted $1.68 EPS. As a group, research analysts expect that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Wednesday, February 25th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Wednesday, February 25th. Sun Life Financial’s dividend payout ratio (DPR) is 61.36%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Barclays reissued an “underweight” rating on shares of Sun Life Financial in a research report on Thursday, January 8th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Sun Life Financial in a report on Friday, February 13th. Wall Street Zen lowered Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Sunday. TD Securities restated a “buy” rating on shares of Sun Life Financial in a report on Thursday, February 12th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Sun Life Financial in a research report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Sun Life Financial currently has a consensus rating of “Hold” and a consensus price target 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.