SEB Asset Management AB Buys Shares of 90,356 Sun Life Financial Inc. $SLF

SEB Asset Management AB bought a new position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the first quarter, HoldingsChannel.com reports. The firm bought 90,356 shares of the financial services provider’s stock, valued at approximately $5,643,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SLF. Cornerstone Planning Group LLC increased its stake in shares of Sun Life Financial by 68.4% in the 4th quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 167 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in Sun Life Financial during the 4th quarter worth approximately $30,000. Sittner & Nelson LLC bought a new position in Sun Life Financial during the 4th quarter worth approximately $33,000. Manchester Capital Management LLC acquired a new position in Sun Life Financial during the fourth quarter valued at approximately $49,000. Finally, LOM Asset Management Ltd bought a new stake in Sun Life Financial in the fourth quarter valued at approximately $53,000. 52.26% of the stock is owned by institutional investors.

Sun Life Financial Stock Performance

Shares of SLF opened at $81.42 on Thursday. The firm has a market cap of $45.38 billion, a P/E ratio of 20.98 and a beta of 0.88. Sun Life Financial Inc. has a twelve month low of $56.22 and a twelve month high of $82.25. The firm’s 50 day moving average price is $76.48 and its two-hundred day moving average price is $69.34.

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 the consensus estimate of $1.35 by $0.03. Sun Life Financial had a net margin of 7.85% and a return on equity of 17.80%. The company had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $925.99 million. During the same quarter in the prior year, the firm earned $1.82 earnings per share. On average, sell-side analysts anticipate that Sun Life Financial Inc. will post 5.69 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Wednesday, May 27th were issued a dividend of $0.96 per share. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.92. The ex-dividend date was Wednesday, May 27th. This represents a $3.84 dividend on an annualized basis and a yield of 4.7%. Sun Life Financial’s dividend payout ratio is currently 72.94%.

Analyst Ratings Changes

Several research firms have weighed in on SLF. Wall Street Zen lowered shares of Sun Life Financial from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. National Bank Financial raised shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Friday, April 24th. Barclays reaffirmed an “underweight” rating on shares of Sun Life Financial in a research note on Tuesday, July 7th. Scotiabank reiterated a “sector perform” rating on shares of Sun Life Financial in a report on Wednesday, July 15th. Finally, TD Cowen reissued a “buy” rating on shares of Sun Life Financial in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.67.

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.