Riverhead Capital Management LLC maintained its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,600 shares of the financial services provider’s stock at the close of the 2nd quarter. Riverhead Capital Management LLC’s holdings in Sun Life Financial were worth $129,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SLF. Beutel Goodman & Co Ltd. grew its stake in shares of 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 valued at $327,474,000 after buying an additional 3,083,485 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Sun Life Financial by 686.8% in the first quarter. AQR Capital Management LLC now owns 1,429,171 shares of the financial services provider’s stock valued at $52,038,000 after buying an additional 1,247,534 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Sun Life Financial by 1,847.8% in the second quarter. Canada Pension Plan Investment Board now owns 888,194 shares of the financial services provider’s stock valued at $31,706,000 after buying an additional 842,594 shares in the last quarter. Schroder Investment Management Group grew its stake in shares of Sun Life Financial by 1,345.0% in the second quarter. Schroder Investment Management Group now owns 659,300 shares of the financial services provider’s stock valued at $30,401,000 after buying an additional 613,674 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Sun Life Financial by 4.8% in the first quarter. Vanguard Group Inc. now owns 13,072,396 shares of the financial services provider’s stock valued at $477,796,000 after buying an additional 593,878 shares in the last quarter. Institutional investors and hedge funds own 40.90% of the company’s stock.

Shares of Sun Life Financial Inc. (NYSE SLF) opened at 39.89 on Thursday. The firm’s 50-day moving average price is $38.83 and its 200-day moving average price is $36.40. The firm has a market cap of $24.48 billion, a price-to-earnings ratio of 11.54 and a beta of 0.88. Sun Life Financial Inc. has a 52 week low of $32.03 and a 52 week high of $40.57.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The business had revenue of $8.12 billion for the quarter, compared to analyst estimates of $7.36 billion. Sun Life Financial had a return on equity of 13.29% and a net margin of 12.48%. The firm’s revenue for the quarter was down 14.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 earnings per share. Equities research analysts expect that Sun Life Financial Inc. will post $3.31 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Wednesday, August 30th were paid a $0.3439 dividend. The ex-dividend date of this dividend was Monday, August 28th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.32. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.45%. Sun Life Financial’s payout ratio is presently 43.85%.

Sun Life Financial declared that its board has approved a share repurchase program on Wednesday, August 9th that allows the company to repurchase 11,500,000 outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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A number of equities research analysts have recently issued reports on the company. BidaskClub upgraded Sun Life Financial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 19th. Zacks Investment Research lowered Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. TD Securities increased their target price on Sun Life Financial from $50.00 to $51.00 and gave the company a “hold” rating in a research note on Thursday, August 10th. Bank of America Corporation upgraded Sun Life Financial from an “underperform” rating to a “hold” rating in a research note on Monday, July 10th. Finally, ValuEngine upgraded Sun Life Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Nine equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Sun Life Financial presently has a consensus rating of “Hold” and a consensus target price of $48.00.

About Sun Life Financial

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.

Institutional Ownership by Quarter for Sun Life Financial (NYSE:SLF)

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