Cumberland Partners Ltd Invests $1.71 Million in Sun Life Financial Inc (SLF)
Cumberland Partners Ltd purchased a new stake in shares of Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 42,166 shares of the financial services provider’s stock, valued at approximately $1,705,000.
Other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC bought a new stake in Sun Life Financial in the first quarter worth $116,000. Daiwa Securities Group Inc. bought a new stake in Sun Life Financial in the second quarter worth $177,000. Truewealth LLC bought a new stake in Sun Life Financial in the first quarter worth $208,000. Davis Rea LTD. bought a new stake in Sun Life Financial in the second quarter worth $216,000. Finally, ARP Americas LP bought a new stake in Sun Life Financial in the second quarter worth $217,000. 41.63% of the stock is currently owned by institutional investors and hedge funds.
SLF has been the topic of several analyst reports. ValuEngine raised Sun Life Financial from a “hold” rating to a “buy” rating in a report on Friday, April 27th. Zacks Investment Research raised Sun Life Financial from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Tuesday, July 10th. CIBC downgraded Sun Life Financial from a “sector outperform” rating to a “neutral” rating in a report on Monday, May 28th. Finally, Evercore ISI initiated coverage on Sun Life Financial in a report on Tuesday, July 10th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $54.00.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Wednesday, August 8th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.32. The firm had revenue of $5.29 billion for the quarter. Sun Life Financial had a return on equity of 13.44% and a net margin of 9.24%. During the same period in the previous year, the company earned $1.12 earnings per share. research analysts predict that Sun Life Financial Inc will post 3.57 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Wednesday, August 29th will be issued a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Tuesday, August 28th. Sun Life Financial’s payout ratio is currently 46.25%.
Sun Life Financial Profile
Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients, high-net-worth individuals, and families. It operates through Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate segments.
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