AQR Capital Management LLC grew its holdings in Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 79.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 824,110 shares of the financial services provider’s stock after purchasing an additional 366,130 shares during the quarter. AQR Capital Management LLC owned about 0.14% of Sun Life Financial worth $32,739,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Ontario Teachers Pension Plan Board raised its position in shares of Sun Life Financial by 538.9% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 122,706 shares of the financial services provider’s stock valued at $4,931,000 after buying an additional 103,499 shares during the period. Man Group plc increased its holdings in Sun Life Financial by 262.6% in the 3rd quarter. Man Group plc now owns 397,843 shares of the financial services provider’s stock valued at $15,816,000 after purchasing an additional 288,134 shares during the last quarter. Bridgewater Associates LP increased its holdings in Sun Life Financial by 226.0% in the 2nd quarter. Bridgewater Associates LP now owns 262,520 shares of the financial services provider’s stock valued at $10,543,000 after purchasing an additional 182,000 shares during the last quarter. Bank of Nova Scotia increased its holdings in Sun Life Financial by 6.4% in the 2nd quarter. Bank of Nova Scotia now owns 3,148,394 shares of the financial services provider’s stock valued at $126,759,000 after purchasing an additional 189,407 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Sun Life Financial by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,588,515 shares of the financial services provider’s stock valued at $63,159,000 after purchasing an additional 8,066 shares during the last quarter. 40.98% of the stock is currently owned by institutional investors and hedge funds.
SLF traded up $0.07 on Friday, reaching $35.45. The company had a trading volume of 357,200 shares, compared to its average volume of 549,963. Sun Life Financial Inc has a 1 year low of $31.49 and a 1 year high of $44.50. The stock has a market cap of $21.15 billion, a PE ratio of 11.07 and a beta of 0.86.Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Wednesday, November 7th. The financial services provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. Sun Life Financial had a net margin of 8.15% and a return on equity of 13.74%. The business had revenue of $4.59 billion during the quarter. On average, analysts anticipate that Sun Life Financial Inc will post 3.69 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 31st. Stockholders of record on Wednesday, November 28th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.29%. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, November 27th. Sun Life Financial’s dividend payout ratio is presently 47.50%.
SLF has been the subject of several research reports. Zacks Investment Research restated a “hold” rating on shares of Sun Life Financial in a research note on Thursday, November 15th. Desjardins restated a “buy” rating on shares of Sun Life Financial in a research note on Tuesday, October 16th. CIBC restated an “average” rating and issued a $53.00 price target on shares of Sun Life Financial in a research note on Thursday, December 20th. Canaccord Genuity reiterated an “average” rating and set a $53.00 target price on shares of Sun Life Financial in a research note on Friday, November 9th. Finally, Barclays reiterated a “buy” rating on shares of Sun Life Financial in a research note on Friday, November 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $53.80.
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Sun Life Financial Company 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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