Northwestern Mutual Wealth Management Co. Acquires New Stake in Sun Life Financial Inc. $SLF

Northwestern Mutual Wealth Management Co. acquired a new position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 24,118 shares of the financial services provider’s stock, valued at approximately $1,891,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC purchased a new stake in shares of Sun Life Financial during the fourth quarter worth about $244,000. AQR Capital Management LLC lifted its stake in shares of Sun Life Financial by 113.8% during the first quarter. AQR Capital Management LLC now owns 8,022 shares of the financial services provider’s stock valued at $454,000 after buying an additional 4,270 shares during the period. Sivia Capital Partners LLC acquired a new stake in Sun Life Financial during the second quarter worth approximately $204,000. Prudential Financial Inc. acquired a new stake in Sun Life Financial during the second quarter worth approximately $232,000. Finally, EverSource Wealth Advisors LLC grew its stake in Sun Life Financial by 66.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,734 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 692 shares during the period. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Stock Up 0.1%

Shares of NYSE SLF opened at $79.09 on Tuesday. The stock has a market capitalization of $44.08 billion, a PE ratio of 18.49 and a beta of 0.88. The firm has a fifty day moving average of $80.26 and a 200-day moving average of $72.33. Sun Life Financial Inc. has a 52-week low of $57.22 and a 52-week high of $84.38.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share for the quarter, topping the consensus estimate 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 company 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. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Wednesday, August 26th. Sun Life Financial’s dividend payout ratio (DPR) is 66.12%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SLF shares. Wall Street Zen raised Sun Life Financial from a “sell” rating to a “hold” rating in a research note on Sunday, July 26th. TD Securities reaffirmed a “buy” rating on shares of Sun Life Financial in a research report on Friday, August 7th. BMO Capital Markets reiterated an “outperform” rating on shares of Sun Life Financial in a research note on Friday, May 8th. Scotiabank reiterated a “sector perform” rating on shares of Sun Life Financial in a research report on Monday, August 10th. Finally, Weiss Ratings raised Sun Life Financial from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.33.

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.