Geode Capital Management LLC Has $353.18 Million Position in Sun Life Financial Inc. $SLF

Geode Capital Management LLC raised its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 6.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,529,609 shares of the financial services provider’s stock after acquiring an additional 347,041 shares during the period. Geode Capital Management LLC’s holdings in Sun Life Financial were worth $353,181,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Sun Life Financial by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 25,884,084 shares of the financial services provider’s stock valued at $1,615,788,000 after purchasing an additional 534,772 shares during the period. Legal & General Group Plc grew its holdings in shares of Sun Life Financial by 1.0% during the 4th quarter. Legal & General Group Plc now owns 3,896,312 shares of the financial services provider’s stock valued at $243,542,000 after acquiring an additional 36,698 shares in the last quarter. Scotia Capital Inc. grew its holdings in shares of Sun Life Financial by 6.3% during the 3rd quarter. Scotia Capital Inc. now owns 3,303,733 shares of the financial services provider’s stock valued at $197,709,000 after acquiring an additional 196,675 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Sun Life Financial by 9.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,733,974 shares of the financial services provider’s stock valued at $164,120,000 after acquiring an additional 243,323 shares in the last quarter. Finally, TD Waterhouse Canada Inc. grew its holdings in shares of Sun Life Financial by 10.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,187,623 shares of the financial services provider’s stock valued at $136,438,000 after acquiring an additional 215,811 shares in the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on SLF. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Sun Life Financial in a report on Friday, May 8th. Evercore restated an “outperform” rating on shares of Sun Life Financial in a report on Thursday, February 19th. TD Cowen restated a “buy” rating on shares of Sun Life Financial in a report on Thursday, May 7th. Scotiabank restated a “sector perform” rating on shares of Sun Life Financial in a report on Wednesday, April 29th. Finally, TD Securities restated a “buy” rating on shares of Sun Life Financial in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $86.50.

Sun Life Financial Trading Down 1.0%

Shares of NYSE:SLF opened at $71.08 on Tuesday. The stock has a market capitalization of $39.38 billion, a PE ratio of 18.32 and a beta of 0.91. Sun Life Financial Inc. has a 1 year low of $56.22 and a 1 year high of $74.16. The firm has a fifty day moving average price of $68.63 and a 200 day moving average price of $64.69.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. The firm had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $925.99 million. Sun Life Financial had a net margin of 7.85% and a return on equity of 17.80%. During the same period in the prior year, the company posted $1.82 earnings per share. On average, sell-side analysts forecast that Sun Life Financial Inc. will post 5.74 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, May 27th will be issued a $0.96 dividend. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.92. This represents a $3.84 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Wednesday, May 27th. Sun Life Financial’s dividend payout ratio is currently 72.68%.

About Sun Life Financial

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.