Sun Life Financial Inc. $SLF Shares Purchased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky grew its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 8.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 403,750 shares of the financial services provider’s stock after acquiring an additional 31,000 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Sun Life Financial were worth $24,237,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of SLF. Brighton Jones LLC acquired a new stake in Sun Life Financial during the 4th quarter worth approximately $244,000. AQR Capital Management LLC grew its stake in Sun Life Financial by 113.8% during the first quarter. AQR Capital Management LLC now owns 8,022 shares of the financial services provider’s stock worth $454,000 after buying an additional 4,270 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Sun Life Financial in the second quarter worth $204,000. Envestnet Asset Management Inc. raised its stake in shares of Sun Life Financial by 12.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 24,472 shares of the financial services provider’s stock valued at $1,626,000 after acquiring an additional 2,613 shares during the period. Finally, Arkadios Wealth Advisors acquired a new position in shares of Sun Life Financial during the 2nd quarter valued at $223,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Trading Down 1.0%

SLF stock opened at $64.53 on Wednesday. The firm has a 50 day simple moving average of $64.08 and a 200-day simple moving average of $61.25. The company has a market capitalization of $35.74 billion, a P/E ratio of 14.67 and a beta of 0.87. Sun Life Financial Inc. has a twelve month low of $52.44 and a twelve month high of $69.67.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.06. The firm had revenue of $973.53 million for the quarter, compared to the consensus estimate of $973.53 million. Sun Life Financial had a net margin of 8.48% and a return on equity of 17.76%. During the same period in the prior year, the firm posted $1.68 EPS. On average, research analysts predict that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, February 25th will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $3.68 annualized dividend and a dividend yield of 5.7%. Sun Life Financial’s dividend payout ratio (DPR) is presently 60.91%.

Wall Street Analysts Forecast Growth

SLF has been the subject of several recent research reports. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Sun Life Financial in a report on Thursday, January 8th. Wall Street Zen raised Sun Life Financial from a “hold” rating to a “buy” rating in a research report on Saturday. National Bank Financial reiterated a “sector perform” rating on shares of Sun Life Financial in a report on Thursday, November 6th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Sun Life Financial in a report on Friday, February 13th. Finally, Barclays reiterated an “underweight” rating on shares of Sun Life Financial in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $86.50.

Sun Life Financial 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.