Lombard Odier Asset Management Switzerland SA Sells 19,677 Shares of Sun Life Financial Inc. $SLF

Lombard Odier Asset Management Switzerland SA trimmed its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 64.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 10,659 shares of the financial services provider’s stock after selling 19,677 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in Sun Life Financial were worth $668,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC bought a new stake in shares of Sun Life Financial during the 4th quarter valued at $244,000. AQR Capital Management LLC grew its position in shares of Sun Life Financial by 113.8% in the 1st quarter. AQR Capital Management LLC now owns 8,022 shares of the financial services provider’s stock worth $454,000 after buying an additional 4,270 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Sun Life Financial in the 2nd quarter worth about $204,000. Prudential Financial Inc. bought a new position in shares of Sun Life Financial in the 2nd quarter worth about $232,000. Finally, EverSource Wealth Advisors LLC lifted its position in Sun Life Financial by 66.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,734 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 692 shares during the period. Institutional investors own 52.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on SLF. National Bank Financial raised shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research note on Friday, April 24th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Sun Life Financial in a research note on Friday, May 8th. TD Cowen reiterated a “buy” rating on shares of Sun Life Financial in a report on Thursday, May 7th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Sun Life Financial in a research report on Friday, May 8th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Sun Life Financial in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Sun Life Financial has a consensus rating of “Moderate Buy” and a consensus target price of $84.67.

Sun Life Financial Stock Up 1.4%

Shares of NYSE SLF opened at $84.09 on Wednesday. The firm has a market cap of $46.87 billion, a P/E ratio of 21.67 and a beta of 0.88. Sun Life Financial Inc. has a twelve month low of $56.22 and a twelve month high of $84.38. The company has a 50 day moving average of $77.34 and a 200 day moving average of $69.89.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $1.38 EPS for the quarter, beating the consensus estimate of $1.35 by $0.03. The business had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $925.99 million. Sun Life Financial had a return on equity of 17.80% and a net margin of 7.85%.During the same period last year, the business posted $1.82 EPS. As a group, equities analysts expect that Sun Life Financial Inc. will post 5.69 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Wednesday, May 27th were issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.92. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.6%. Sun Life Financial’s dividend payout ratio is currently 72.94%.

Sun Life Financial Profile

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.