McDonough Capital Management Inc Acquires New Holdings in Sun Life Financial Inc. $SLF

McDonough Capital Management Inc acquired a new position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,182 shares of the financial services provider’s stock, valued at approximately $211,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Sun Life Financial by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 24,595,092 shares of the financial services provider’s stock valued at $1,407,626,000 after acquiring an additional 361,596 shares during the period. TD Asset Management Inc boosted its position in Sun Life Financial by 2.4% during the first quarter. TD Asset Management Inc now owns 16,100,340 shares of the financial services provider’s stock valued at $921,330,000 after purchasing an additional 374,682 shares in the last quarter. 1832 Asset Management L.P. grew its stake in Sun Life Financial by 8.9% in the first quarter. 1832 Asset Management L.P. now owns 10,338,250 shares of the financial services provider’s stock valued at $591,968,000 after purchasing an additional 846,735 shares during the last quarter. Federation des caisses Desjardins du Quebec raised its holdings in Sun Life Financial by 5.2% in the first quarter. Federation des caisses Desjardins du Quebec now owns 6,748,255 shares of the financial services provider’s stock worth $385,740,000 after purchasing an additional 335,054 shares in the last quarter. Finally, Bank of Nova Scotia lifted its position in shares of Sun Life Financial by 4.8% during the first quarter. Bank of Nova Scotia now owns 5,780,001 shares of the financial services provider’s stock valued at $330,848,000 after buying an additional 266,732 shares during the last quarter. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Price Performance

Shares of SLF opened at $59.05 on Tuesday. The company’s fifty day moving average price is $60.26 and its 200-day moving average price is $61.36. Sun Life Financial Inc. has a 1-year low of $52.44 and a 1-year high of $66.81. The firm has a market capitalization of $32.97 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Wednesday, November 5th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.05. The company had revenue of $944.53 million during the quarter, compared to analyst estimates of $944.53 million. Sun Life Financial had a return on equity of 17.21% and a net margin of 7.59%.During the same quarter last year, the business posted $2.33 EPS. As a group, research analysts anticipate that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, November 26th will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.2%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Wednesday, November 26th. Sun Life Financial’s dividend payout ratio is presently 69.41%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SLF shares. Barclays reiterated an “underweight” rating on shares of Sun Life Financial in a research note on Wednesday, October 8th. Cibc Captl Mkts lowered shares of Sun Life Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 29th. National Bank Financial lowered Sun Life Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $84.00 price objective on shares of Sun Life Financial in a research report on Monday, November 10th. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of Sun Life Financial in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $86.50.

Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.