129,816 Shares in Sun Life Financial Inc. $SLF Acquired by Nykredit A S

Nykredit A S acquired a new stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the 2nd quarter, HoldingsChannel reports. The firm acquired 129,816 shares of the financial services provider’s stock, valued at approximately $10,189,000.

Several other institutional investors and hedge funds have also bought and sold shares of SLF. BlackRock Inc. bought a new position in Sun Life Financial during the second quarter worth about $81,587,000. Plato Investment Management Ltd purchased a new stake in shares of Sun Life Financial during the 2nd quarter valued at approximately $2,888,000. Osmosis Investment Management UK Ltd purchased a new stake in shares of Sun Life Financial during the 2nd quarter valued at approximately $1,637,000. Korea Investment CORP bought a new position in Sun Life Financial in the 2nd quarter worth approximately $35,531,000. Finally, Hillsdale Investment Management Inc. boosted its holdings in Sun Life Financial by 1,342.4% in the 1st quarter. Hillsdale Investment Management Inc. now owns 50,152 shares of the financial services provider’s stock worth $3,141,000 after buying an additional 46,675 shares during the period. 52.26% of the stock is owned by institutional investors.

Sun Life Financial Price Performance

Shares of Sun Life Financial stock opened at $80.97 on Friday. Sun Life Financial Inc. has a 1 year low of $57.22 and a 1 year high of $84.38. The firm has a market cap of $49.32 billion, a PE ratio of 18.93, a PEG ratio of 2.02 and a beta of 0.87. The company has a 50 day simple moving average of $80.51 and a two-hundred day simple moving average of $73.13.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Thursday, August 6th. The financial services provider reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.07. The firm had revenue of $10.10 billion for the quarter, compared to analyst estimates of $994.33 million. Sun Life Financial had a net margin of 7.66% and a return on equity of 17.96%. As a group, research analysts anticipate that Sun Life Financial Inc. will post 5.74 earnings per share for the current year.

Sun Life Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Wednesday, August 26th will be paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Wednesday, August 26th. Sun Life Financial’s dividend payout ratio is currently 64.02%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Argus increased their target price on Sun Life Financial from $81.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group reiterated a “neutral” rating on shares of Sun Life Financial in a research note on Wednesday. Evercore cut Sun Life Financial from an “outperform” rating to an “in-line” rating in a report on Monday, July 13th. Royal Bank Of Canada lifted their target price on Sun Life Financial from $98.00 to $119.00 and gave the company a “sector perform” rating in a report on Monday, August 10th. Finally, Scotiabank restated a “sector perform” rating on shares of Sun Life Financial in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Sun Life Financial currently has an average rating of “Moderate Buy” and an average target price of $98.67.

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.