Sun Life Financial Inc. (SLF) Shares Sold by AHL Partners LLP
AHL Partners LLP trimmed its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 35.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,262 shares of the financial services provider’s stock after selling 114,698 shares during the period. AHL Partners LLP’s holdings in Sun Life Financial were worth $7,552,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. TD Asset Management Inc. raised its position in Sun Life Financial by 1.7% in the 2nd quarter. TD Asset Management Inc. now owns 20,568,078 shares of the financial services provider’s stock valued at $734,224,000 after purchasing an additional 351,938 shares during the last quarter. Vanguard Group Inc. boosted its stake in Sun Life Financial by 4.6% in the second quarter. Vanguard Group Inc. now owns 13,668,290 shares of the financial services provider’s stock worth $488,642,000 after purchasing an additional 595,894 shares in the last quarter. Beutel Goodman & Co Ltd. boosted its stake in 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 in the last quarter. Letko Brosseau & Associates Inc. boosted its stake in Sun Life Financial by 0.3% in the second quarter. Letko Brosseau & Associates Inc. now owns 7,921,162 shares of the financial services provider’s stock worth $282,764,000 after purchasing an additional 23,720 shares in the last quarter. Finally, Bank of Nova Scotia boosted its stake in Sun Life Financial by 1.2% in the first quarter. Bank of Nova Scotia now owns 7,024,399 shares of the financial services provider’s stock worth $256,508,000 after purchasing an additional 81,565 shares in the last quarter. 40.90% of the stock is owned by hedge funds and other institutional investors.
Sun Life Financial Inc. (SLF) traded down 0.43% during midday trading on Wednesday, hitting $39.79. The stock had a trading volume of 52,440 shares. The company’s 50-day moving average price is $38.79 and its 200 day moving average price is $36.38. Sun Life Financial Inc. has a 52 week low of $32.03 and a 52 week high of $40.57. The company has a market capitalization of $24.42 billion, a PE ratio of 11.51 and a beta of 0.88.
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 for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.09. The company had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $7.36 billion. Sun Life Financial had a return on equity of 13.29% and a net margin of 12.48%. Sun Life Financial’s revenue for the quarter was down 14.8% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. On average, analysts expect that Sun Life Financial Inc. will post $3.31 EPS for the current year.
Sun Life Financial declared that its board has initiated a stock buyback plan on Wednesday, August 9th that permits the company to repurchase 11,500,000 shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Wednesday, August 30th were given a $0.3439 dividend. The ex-dividend date of this dividend was Monday, August 28th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.32. This represents a $1.38 annualized dividend and a yield of 3.44%. Sun Life Financial’s dividend payout ratio (DPR) is currently 43.85%.
A number of brokerages have recently weighed in on SLF. BidaskClub upgraded Sun Life Financial from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Royal Bank Of Canada raised Sun Life Financial from a “sector perform” rating to an “outperform” rating and set a $51.00 price target for the company in a report on Wednesday, June 7th. Zacks Investment Research upgraded shares of Sun Life Financial from a “sell” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Wednesday, July 12th. Bank of America Corporation upgraded shares of Sun Life Financial from an “underperform” rating to a “hold” rating in a research report on Monday, July 10th. Finally, TD Securities increased their price objective on shares of Sun Life Financial from $50.00 to $51.00 and gave the stock a “hold” rating in a report on Thursday, August 10th. Nine analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $48.00.
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Sun Life Financial Company Profile
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.
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