Capital International Investors maintained its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,826,900 shares of the financial services provider’s stock at the end of the second quarter. Capital International Investors owned about 0.46% of Sun Life Financial worth $101,062,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of SLF. Beutel Goodman & Co Ltd. raised its holdings in Sun Life Financial by 50.7% during the second quarter. Beutel Goodman & Co Ltd. now owns 9,170,839 shares of the financial services provider’s stock worth $327,474,000 after purchasing an additional 3,083,485 shares in the last quarter. Citadel Advisors LLC lifted its position in Sun Life Financial by 309.0% in the second quarter. Citadel Advisors LLC now owns 1,862,148 shares of the financial services provider’s stock worth $66,576,000 after purchasing an additional 1,406,898 shares during the period. AQR Capital Management LLC lifted its position in Sun Life Financial by 686.8% in the first quarter. AQR Capital Management LLC now owns 1,429,171 shares of the financial services provider’s stock worth $52,038,000 after purchasing an additional 1,247,534 shares during the period. Canada Pension Plan Investment Board lifted its position in Sun Life Financial by 1,847.8% in the second quarter. Canada Pension Plan Investment Board now owns 888,194 shares of the financial services provider’s stock worth $31,706,000 after purchasing an additional 842,594 shares during the period. Finally, Schroder Investment Management Group lifted its position in Sun Life Financial by 1,345.0% in the second quarter. Schroder Investment Management Group now owns 659,300 shares of the financial services provider’s stock worth $30,401,000 after purchasing an additional 613,674 shares during the period. Institutional investors and hedge funds own 40.90% of the company’s stock.

Sun Life Financial Inc. (SLF) traded up 0.10% on Wednesday, reaching $40.00. 82,986 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $38.79 and its 200 day moving average price is $36.38. The firm has a market capitalization of $24.55 billion, a PE ratio of 11.57 and a beta of 0.88. Sun Life Financial Inc. has a 52-week low of $32.03 and a 52-week high of $40.57.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.09. Sun Life Financial had a net margin of 12.48% and a return on equity of 13.29%. The business had revenue of $8.12 billion for the quarter, compared to analyst estimates of $7.36 billion. During the same period in the prior year, the business posted $0.90 earnings per share. Sun Life Financial’s revenue was down 14.8% compared to the same quarter last year. On average, analysts predict that Sun Life Financial Inc. will post $3.31 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Wednesday, August 30th were paid a $0.3439 dividend. The ex-dividend date of this dividend was Monday, August 28th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.32. This represents a $1.38 dividend on an annualized basis and a yield of 3.44%. Sun Life Financial’s dividend payout ratio (DPR) is presently 43.85%.

Sun Life Financial announced that its Board of Directors has approved a stock repurchase plan on Wednesday, August 9th that allows the company to buyback 11,500,000 shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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SLF has been the subject of a number of research reports. Zacks Investment Research lowered Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. BidaskClub raised Sun Life Financial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 19th. TD Securities boosted their price objective on Sun Life Financial from $50.00 to $51.00 and gave the stock a “hold” rating in a research note on Thursday, August 10th. Bank of America Corporation upgraded Sun Life Financial from an “underperform” rating to a “hold” rating in a report on Monday, July 10th. Finally, ValuEngine upgraded Sun Life Financial from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Nine research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Sun Life Financial has a consensus rating of “Hold” and a consensus target price of $48.00.

Sun Life Financial Company Profile

Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services company providing a range of insurance, wealth and asset management solutions to individuals and corporate Clients. It operates through five segments. The Sun Life Financial Canada segment provides retail insurance and investment advice, products and services to people across Canada.

Institutional Ownership by Quarter for Sun Life Financial (NYSE:SLF)

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