Unigestion Holding SA Has $19.99 Million Stake in Sun Life Financial Inc. (NYSE:SLF)

Unigestion Holding SA raised its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 44.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 349,270 shares of the financial services provider’s stock after purchasing an additional 107,109 shares during the period. Sun Life Financial makes up approximately 1.2% of Unigestion Holding SA’s portfolio, making the stock its 25th biggest holding. Unigestion Holding SA owned about 0.06% of Sun Life Financial worth $19,990,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SLF. SG Americas Securities LLC acquired a new position in Sun Life Financial during the 4th quarter valued at about $127,000. Janney Montgomery Scott LLC boosted its stake in Sun Life Financial by 13.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,622 shares of the financial services provider’s stock valued at $452,000 after purchasing an additional 893 shares during the last quarter. Brighton Jones LLC bought a new position in shares of Sun Life Financial during the 4th quarter worth approximately $244,000. Princeton Global Asset Management LLC bought a new position in shares of Sun Life Financial during the 4th quarter worth approximately $99,000. Finally, Long Run Wealth Advisors LLC bought a new position in shares of Sun Life Financial during the 4th quarter worth approximately $326,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Price Performance

Shares of NYSE SLF opened at $65.16 on Tuesday. Sun Life Financial Inc. has a one year low of $46.41 and a one year high of $65.28. The business’s fifty day moving average price is $59.36 and its 200-day moving average price is $58.64. The stock has a market capitalization of $36.80 billion, a PE ratio of 16.97, a P/E/G ratio of 1.52 and a beta of 0.90.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.05. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. The firm had revenue of $7.91 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. As a group, equities analysts expect that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Wednesday, May 28th will be given a dividend of $0.6332 per share. This represents a $2.53 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend is Wednesday, May 28th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.59. Sun Life Financial’s dividend payout ratio is currently 62.09%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Scotiabank reissued an “outperform” rating on shares of Sun Life Financial in a research report on Thursday, May 1st. BMO Capital Markets reissued an “outperform” rating on shares of Sun Life Financial in a research report on Monday, May 12th. Cormark raised shares of Sun Life Financial from a “hold” rating to a “moderate buy” rating in a research report on Thursday, February 13th. Royal Bank of Canada lifted their target price on shares of Sun Life Financial from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Monday, May 12th. Finally, Wall Street Zen cut shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.00.

About Sun Life Financial

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.