JPMorgan Chase & Co. boosted its position in shares of Sun Life Financial Inc. (NYSE:SLF) by 17.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 409,876 shares of the company’s stock after buying an additional 61,099 shares during the period. JPMorgan Chase & Co. owned approximately 0.07% of Sun Life Financial worth $13,457,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Americafirst Capital Management LLC purchased a new position in Sun Life Financial during the second quarter worth approximately $110,000. Cribstone Capital Management LLC bought a new stake in shares of Sun Life Financial during the second quarter worth about $147,000. Advisory Services Network LLC increased its stake in shares of Sun Life Financial by 0.8% in the second quarter. Advisory Services Network LLC now owns 4,951 shares of the company’s stock worth $163,000 after buying an additional 39 shares in the last quarter. Glenmede Trust Co. NA increased its stake in shares of Sun Life Financial by 4.1% in the second quarter. Glenmede Trust Co. NA now owns 5,332 shares of the company’s stock worth $174,000 after buying an additional 209 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Sun Life Financial during the first quarter worth about $178,000. Hedge funds and other institutional investors own 42.93% of the company’s stock.
Shares of Sun Life Financial Inc. (NYSE:SLF) traded up 1.12% during trading on Friday, hitting $32.54. The stock had a trading volume of 402,194 shares. The stock has a market cap of $19.94 billion, a price-to-earnings ratio of 12.97 and a beta of 1.15. The company’s 50 day moving average price is $31.88 and its 200 day moving average price is $32.75. Sun Life Financial Inc. has a 12 month low of $25.31 and a 12 month high of $35.46.
Sun Life Financial (NYSE:SLF) last issued its earnings results on Wednesday, August 10th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.20. The company earned $6.84 billion during the quarter, compared to analysts’ expectations of $4.92 billion. Sun Life Financial had a return on equity of 11.88% and a net margin of 7.47%. During the same period in the prior year, the business earned $1.00 EPS. Equities research analysts expect that Sun Life Financial Inc. will post $2.83 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, August 31st were issued a $0.3074 dividend. This represents a $1.23 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend was Monday, August 29th. Sun Life Financial’s payout ratio is currently 49.80%.
SLF has been the subject of a number of analyst reports. Zacks Investment Research downgraded Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, September 14th. Scotiabank restated an “outperform” rating and issued a $46.00 price target (down from $48.00) on shares of Sun Life Financial in a research report on Saturday, August 13th. Argus restated a “buy” rating and issued a $37.00 price target on shares of Sun Life Financial in a research report on Friday. Morgan Stanley restated a “hold” rating on shares of Sun Life Financial in a research report on Sunday, August 14th. Finally, TD Securities restated a “buy” rating and issued a $47.00 price target on shares of Sun Life Financial in a research report on Saturday, August 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. Sun Life Financial has a consensus rating of “Buy” and a consensus target price of $44.33.
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 organization providing a range of protection and wealth products and services. It operates in five segments: Sun Life Financial Canada (SLF Canada), Sun Life Financial United States (SLF U.S.), Sun Life Financial Asset Management (SLF Asset Management), Sun Life Financial Asia (SLF Asia) and Corporate.
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