Plato Investment Management Ltd Purchases Shares of 37,016 Sun Life Financial Inc. $SLF

Plato Investment Management Ltd purchased a new stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 37,016 shares of the financial services provider’s stock, valued at approximately $2,888,000.

Other hedge funds have also recently made changes to their positions in the company. Cassaday & Co Wealth Management LLC acquired a new stake in Sun Life Financial in the 1st quarter valued at approximately $25,000. Cornerstone Planning Group LLC lifted its stake in Sun Life Financial by 68.4% during the fourth quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 167 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new position in shares of Sun Life Financial during the fourth quarter worth $30,000. Sittner & Nelson LLC acquired a new stake in shares of Sun Life Financial in the fourth quarter valued at $33,000. Finally, Scarborough Advisors LLC purchased a new stake in shares of Sun Life Financial in the 1st quarter valued at $33,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Performance

Shares of SLF opened at $81.33 on Monday. Sun Life Financial Inc. has a 1 year low of $57.22 and a 1 year high of $84.38. The stock has a market capitalization of $45.33 billion, a PE ratio of 19.01 and a beta of 0.88. The stock has a 50-day simple moving average of $79.74 and a 200-day simple moving average of $71.66.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.07. Sun Life Financial had a net margin of 7.66% and a return on equity of 17.96%. The firm had revenue of $10.10 billion for the quarter, compared to analysts’ expectations of $994.33 million. Analysts predict that Sun Life Financial Inc. will post 5.72 EPS for the current year.

Sun Life Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Wednesday, August 26th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Wednesday, August 26th. Sun Life Financial’s payout ratio is 66.12%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SLF. Scotiabank reissued a “sector perform” rating on shares of Sun Life Financial in a research note on Monday, August 10th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Sun Life Financial in a research report on Friday, May 8th. Argus set a $81.00 price target on shares of Sun Life Financial in a research report on Wednesday, June 10th. Wall Street Zen raised shares of Sun Life Financial from a “sell” rating to a “hold” rating in a research note on Sunday, July 26th. Finally, Evercore cut shares of Sun Life Financial from an “outperform” rating to an “in-line” rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.33.

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.