Deutsche Bank AG Takes Position in Sun Life Financial Inc. $SLF

Deutsche Bank AG acquired a new stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the 2nd quarter, Holdings Channel reports. The fund acquired 1,073,257 shares of the financial services provider’s stock, valued at approximately $84,165,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Sun Life Financial by 2.1% in 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 acquiring an additional 534,772 shares during the last quarter. Bank of Nova Scotia boosted its holdings in shares of Sun Life Financial by 14.7% during the first quarter. Bank of Nova Scotia now owns 6,869,280 shares of the financial services provider’s stock worth $430,244,000 after purchasing an additional 878,031 shares during the last quarter. Norges Bank acquired a new stake in shares of Sun Life Financial during the fourth quarter worth $398,037,000. Geode Capital Management LLC grew its position in shares of Sun Life Financial by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 5,529,609 shares of the financial services provider’s stock valued at $353,181,000 after purchasing an additional 347,041 shares during the period. Finally, Morgan Stanley grew its position in shares of Sun Life Financial by 86.6% in the fourth quarter. Morgan Stanley now owns 3,952,646 shares of the financial services provider’s stock valued at $246,645,000 after purchasing an additional 1,834,772 shares during the period. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Stock Down 1.6%

Shares of SLF stock opened at $78.25 on Friday. Sun Life Financial Inc. has a fifty-two week low of $57.22 and a fifty-two week high of $84.38. The firm’s 50 day moving average price is $80.16 and its two-hundred day moving average price is $72.12. The stock has a market cap of $43.61 billion, a price-to-earnings ratio of 18.29 and a beta of 0.88.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings data on Thursday, August 6th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.07. Sun Life Financial had a net margin of 7.66% and a return on equity of 17.96%. The company had revenue of $10.10 billion during the quarter, compared to analyst estimates of $994.33 million. On average, equities analysts forecast that Sun Life Financial Inc. will post 5.72 EPS for the current fiscal year.

Sun Life Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Wednesday, August 26th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Wednesday, August 26th. Sun Life Financial’s dividend payout ratio is 66.12%.

Analyst Ratings Changes

Several research firms recently weighed in on SLF. Scotiabank reiterated a “sector perform” rating on shares of Sun Life Financial in a research report on Monday, August 10th. BMO Capital Markets restated an “outperform” rating on shares of Sun Life Financial in a report on Friday, May 8th. TD Cowen reaffirmed a “buy” rating on shares of Sun Life Financial in a research note on Thursday, May 7th. Wall Street Zen upgraded shares of Sun Life Financial from a “sell” rating to a “hold” rating in a report on Sunday, July 26th. Finally, Evercore cut shares of Sun Life Financial from an “outperform” rating to an “in-line” rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $96.33.

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.