17,270 Shares in Sun Life Financial Inc. $SLF Acquired by Evolve Private Wealth LLC

Evolve Private Wealth LLC acquired a new stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 17,270 shares of the financial services provider’s stock, valued at approximately $1,355,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of Sun Life Financial in the fourth quarter worth $398,037,000. Morgan Stanley increased its holdings in Sun Life Financial by 86.6% in the 4th quarter. Morgan Stanley now owns 3,952,646 shares of the financial services provider’s stock worth $246,645,000 after buying an additional 1,834,772 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Sun Life Financial by 2,187.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,601,200 shares of the financial services provider’s stock valued at $100,276,000 after purchasing an additional 1,531,200 shares during the last quarter. Bank of Nova Scotia boosted its holdings in Sun Life Financial by 27.1% in the fourth quarter. Bank of Nova Scotia now owns 5,991,249 shares of the financial services provider’s stock worth $373,984,000 after purchasing an additional 1,277,583 shares during the last quarter. Finally, Alberta Investment Management Corp bought a new stake in Sun Life Financial in the 2nd quarter worth approximately $99,930,000. Institutional investors own 52.26% of the company’s stock.

Analysts Set New Price Targets

SLF has been the topic of a number of recent research reports. Evercore downgraded Sun Life Financial from an “outperform” rating to an “in-line” rating in a report on Monday, July 13th. BMO Capital Markets reissued an “outperform” rating on shares of Sun Life Financial in a report on Friday, May 8th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Sun Life Financial in a report on Friday, May 8th. Argus set a $81.00 price target on shares of Sun Life Financial in a research report on Wednesday, June 10th. Finally, Royal Bank Of Canada lifted their price target on shares of Sun Life Financial from $98.00 to $119.00 and gave the stock a “sector perform” rating in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $96.33.

Sun Life Financial Price Performance

Shares of NYSE:SLF opened at $79.07 on Monday. The business has a 50 day simple moving average of $80.21 and a two-hundred day simple moving average of $72.23. Sun Life Financial Inc. has a 1 year low of $57.22 and a 1 year high of $84.38. The firm has a market capitalization of $44.07 billion, a PE ratio of 18.48 and a beta of 0.88.

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

Sun Life Financial Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 4.9%. Sun Life Financial’s dividend payout ratio is presently 66.12%.

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.