Kepler Cheuvreux Suisse SA Lowers Holdings in Sun Life Financial Inc. $SLF

Kepler Cheuvreux Suisse SA reduced its position in shares of Sun Life Financial Inc. (NYSE:SLFFree Report) (TSE:SLF) by 62.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 170,360 shares of the financial services provider’s stock after selling 288,916 shares during the quarter. Kepler Cheuvreux Suisse SA’s holdings in Sun Life Financial were worth $10,630,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Cornerstone Planning Group LLC raised its position in shares of Sun Life Financial by 68.4% during the 4th quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 167 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Sun Life Financial by 184.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 588 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 381 shares in the last quarter. Westside Investment Management Inc. raised its holdings in shares of Sun Life Financial by 38.6% in the 3rd quarter. Westside Investment Management Inc. now owns 801 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 223 shares in the last quarter. LOM Asset Management Ltd acquired a new stake in shares of Sun Life Financial in the 4th quarter valued at $53,000. Finally, Grey Fox Wealth Advisors LLC acquired a new stake in shares of Sun Life Financial in the 3rd quarter valued at $62,000. 52.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on SLF. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Sun Life Financial in a research note on Friday. Evercore reiterated an “outperform” rating on shares of Sun Life Financial in a research note on Thursday, February 19th. Scotiabank reiterated a “sector perform” rating on shares of Sun Life Financial in a research note on Wednesday, April 29th. TD Cowen reiterated a “buy” rating on shares of Sun Life Financial in a research note on Thursday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Sun Life Financial in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.50.

Read Our Latest Research Report on SLF

Sun Life Financial News Summary

Here are the key news stories impacting Sun Life Financial this week:

Sun Life Financial Stock Up 0.0%

Shares of NYSE:SLF opened at $70.06 on Monday. The company has a market cap of $38.82 billion, a price-to-earnings ratio of 18.06 and a beta of 0.91. The firm’s 50-day simple moving average is $66.01 and its 200-day simple moving average is $63.35. Sun Life Financial Inc. has a fifty-two week low of $56.22 and a fifty-two week high of $74.16.

Sun Life Financial (NYSE:SLFGet Free Report) (TSE:SLF) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.03. The business had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $925.99 million. Sun Life Financial had a net margin of 7.85% and a return on equity of 17.78%. During the same quarter in the previous year, the firm earned $1.82 earnings per share. On average, research analysts forecast that Sun Life Financial Inc. will post 5.7 EPS for the current year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, May 27th will be issued a dividend of $0.96 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.92. This represents a $3.84 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Wednesday, May 27th. Sun Life Financial’s payout ratio is presently 72.68%.

About Sun Life Financial

(Free Report)

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.

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

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