Grantham Mayo Van Otterloo & Co. LLC Has $26.75 Million Holdings in Sun Life Financial Inc. $SLF

Grantham Mayo Van Otterloo & Co. LLC decreased its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 6.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 445,452 shares of the financial services provider’s stock after selling 33,031 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Sun Life Financial were worth $26,749,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in Sun Life Financial during the 2nd quarter worth approximately $362,886,000. Picton Mahoney Asset Management bought a new position in shares of Sun Life Financial in the second quarter valued at approximately $87,660,000. Intact Investment Management Inc. boosted its position in shares of Sun Life Financial by 226.8% during the third quarter. Intact Investment Management Inc. now owns 1,270,947 shares of the financial services provider’s stock valued at $76,327,000 after buying an additional 882,070 shares during the last quarter. Vanguard Group Inc. grew its holdings in Sun Life Financial by 3.4% during the second quarter. Vanguard Group Inc. now owns 25,422,211 shares of the financial services provider’s stock worth $1,691,568,000 after buying an additional 827,119 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in Sun Life Financial by 1,441.6% during the second quarter. Public Sector Pension Investment Board now owns 854,747 shares of the financial services provider’s stock worth $56,760,000 after buying an additional 799,300 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on SLF. Scotiabank restated a “sector perform” rating on shares of Sun Life Financial in a research note on Thursday, February 5th. Evercore reiterated an “outperform” rating on shares of Sun Life Financial in a research note on Thursday, February 19th. Barclays reiterated an “underweight” rating on shares of Sun Life Financial in a report on Thursday, January 8th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Sun Life Financial in a research report on Friday, February 13th. Finally, Wall Street Zen cut shares of Sun Life Financial from a “buy” rating to a “hold” rating in a report on Sunday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $86.50.

Sun Life Financial Trading Down 0.9%

Shares of Sun Life Financial stock opened at $64.90 on Monday. The business’s fifty day simple moving average is $64.25 and its 200 day simple moving average is $61.40. Sun Life Financial Inc. has a 12 month low of $52.44 and a 12 month high of $69.67. The firm has a market capitalization of $35.95 billion, a P/E ratio of 14.75 and a beta of 0.87.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Wednesday, February 11th. The financial services provider reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.06. Sun Life Financial had a net margin of 8.48% and a return on equity of 17.76%. The firm had revenue of $973.53 million for the quarter, compared to analysts’ expectations of $973.53 million. During the same period in the previous year, the company earned $1.68 earnings per share. Analysts predict that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Wednesday, February 25th will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Wednesday, February 25th. Sun Life Financial’s payout ratio is 61.36%.

Sun Life Financial Company 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.