Quantinno Capital Management LP Boosts Stock Position in Sun Life Financial Inc. $SLF

Quantinno Capital Management LP lifted its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 30.5% in the first quarter, HoldingsChannel reports. The fund owned 189,760 shares of the financial services provider’s stock after acquiring an additional 44,355 shares during the period. Quantinno Capital Management LP’s holdings in Sun Life Financial were worth $11,871,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Louisbourg Investments Inc. raised its stake in Sun Life Financial by 3.0% during the 1st quarter. Louisbourg Investments Inc. now owns 5,105 shares of the financial services provider’s stock worth $319,000 after acquiring an additional 150 shares during the period. Cornerstone Planning Group LLC boosted its position in shares of Sun Life Financial by 68.4% in the fourth quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 167 shares during the period. Candriam S.C.A. increased its stake in shares of Sun Life Financial by 1.8% in the first quarter. Candriam S.C.A. now owns 9,794 shares of the financial services provider’s stock worth $612,000 after purchasing an additional 177 shares in the last quarter. HB Wealth Management LLC raised its position in shares of Sun Life Financial by 4.7% during the 1st quarter. HB Wealth Management LLC now owns 4,158 shares of the financial services provider’s stock valued at $260,000 after purchasing an additional 187 shares during the period. Finally, Sei Investments Co. raised its position in shares of Sun Life Financial by 3.5% during the 1st quarter. Sei Investments Co. now owns 5,788 shares of the financial services provider’s stock valued at $362,000 after purchasing an additional 196 shares during the period. 52.26% of the stock is owned by hedge funds and other institutional investors.

Sun Life Financial Stock Performance

SLF opened at $82.50 on Tuesday. The stock has a market capitalization of $45.98 billion, a price-to-earnings ratio of 21.26 and a beta of 0.88. The company has a fifty day moving average of $78.10 and a 200 day moving average of $70.46. Sun Life Financial Inc. has a fifty-two week low of $56.22 and a fifty-two week high of $84.38.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.38 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 business had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $925.99 million. During the same quarter in the previous year, the company earned $1.82 EPS. On average, equities research analysts forecast that Sun Life Financial Inc. will post 5.69 earnings per share for the current year.

Sun Life Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Wednesday, May 27th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Wednesday, May 27th. 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 4.7%. Sun Life Financial’s dividend payout ratio is currently 72.94%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Scotiabank reaffirmed a “sector perform” rating on shares of Sun Life Financial in a report on Wednesday, July 15th. Barclays restated an “underweight” rating on shares of Sun Life Financial in a research report on Tuesday, July 7th. Wall Street Zen raised Sun Life Financial from a “sell” rating to a “hold” rating in a research note on Sunday, July 26th. National Bank Financial upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Friday, April 24th. Finally, TD Securities 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $84.67.

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.