Corient Private Wealth LP Makes New Investment in Sun Life Financial Inc. $SLF

Corient Private Wealth LP bought a new position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 17,987 shares of the financial services provider’s stock, valued at approximately $1,411,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SLF. Bank of Nova Scotia acquired a new stake in shares of Sun Life Financial in the 2nd quarter valued at approximately $544,052,000. Norges Bank acquired a new position in Sun Life Financial during the fourth quarter valued at approximately $398,037,000. The Manufacturers Life Insurance Company acquired a new position in Sun Life Financial during the second quarter valued at approximately $293,050,000. Canada Pension Plan Investment Board bought a new stake in Sun Life Financial in the second quarter valued at approximately $292,980,000. Finally, Legal & General Group Plc bought a new stake in Sun Life Financial in the second quarter valued at approximately $280,312,000. 52.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

SLF has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of Sun Life Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday. Scotiabank reaffirmed a “sector perform” rating on shares of Sun Life Financial in a research note on Monday, August 10th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Sun Life Financial in a report on Friday, May 8th. TD Securities reissued a “buy” rating on shares of Sun Life Financial in a research note on Friday, August 7th. Finally, Argus increased their price target on Sun Life Financial from $81.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday. One equities research 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 given a Sell rating to the company’s stock. According to data from MarketBeat, Sun Life Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.67.

Sun Life Financial Stock Performance

Shares of SLF opened at $80.73 on Friday. Sun Life Financial Inc. has a twelve month low of $57.22 and a twelve month high of $84.38. The firm’s 50 day moving average price is $80.45 and its two-hundred day moving average price is $73.07. The firm has a market cap of $44.94 billion, a P/E ratio of 18.87, a PEG ratio of 1.98 and a beta of 0.87.

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

Sun Life Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Wednesday, August 26th will be issued a $0.96 dividend. The ex-dividend date is Wednesday, August 26th. This represents a $3.84 annualized dividend and a dividend yield of 4.8%. Sun Life Financial’s dividend payout ratio (DPR) is presently 64.02%.

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.