Osmosis Investment Management UK Ltd Takes Position in Sun Life Financial Inc. $SLF

Osmosis Investment Management UK Ltd purchased a new stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the second quarter, HoldingsChannel reports. The fund purchased 20,857 shares of the financial services provider’s stock, valued at approximately $1,637,000.

Several other large investors also recently added to or reduced their stakes in SLF. Sanctuary Advisors LLC bought a new stake in Sun Life Financial during the second quarter worth approximately $287,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Sun Life Financial in the 2nd quarter worth approximately $103,203,000. Bank of Nova Scotia purchased a new position in shares of Sun Life Financial in the 2nd quarter worth approximately $544,052,000. Commerce Bank bought a new position in shares of Sun Life Financial during the 2nd quarter valued at approximately $231,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Sun Life Financial during the 2nd quarter valued at approximately $1,891,000. 52.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SLF. Scotiabank restated a “sector perform” rating on shares of Sun Life Financial in a research report on Monday, August 10th. TD Cowen reissued a “buy” rating on shares of Sun Life Financial in a research note on Thursday, May 7th. Evercore lowered shares of Sun Life Financial from an “outperform” rating to an “in-line” rating in a report on Monday, July 13th. TD Securities reaffirmed a “buy” rating on shares of Sun Life Financial in a research note on Friday, August 7th. Finally, Barclays reissued an “underweight” rating on shares of Sun Life Financial in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $96.33.

Sun Life Financial Trading Up 0.1%

NYSE:SLF opened at $79.09 on Tuesday. The company has a market cap of $44.08 billion, a price-to-earnings ratio of 18.49 and a beta of 0.88. Sun Life Financial Inc. has a twelve month low of $57.22 and a twelve month high of $84.38. The stock has a fifty day simple moving average of $80.26 and a 200-day simple moving average of $72.33.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Thursday, August 6th. The financial services provider reported $1.46 EPS for the quarter, topping 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 company had revenue of $10.10 billion for the quarter, compared to the consensus estimate of $994.33 million. As a group, equities research analysts predict that Sun Life Financial Inc. will post 5.72 EPS for the current fiscal year.

Sun Life Financial Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.9%. Sun Life Financial’s dividend payout ratio (DPR) is 66.12%.

Sun Life Financial Company 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.